Neural Network Software Market - Forecast(2024 - 2030)
Neural Network Software Market
The global market for
Neural Network Processor is poised to reach $95.3 million by 2026,
progressing at CAGR 19.5% from 2021 to 2026. Globally, surge in demand for
high-speed processors among various organizations to increase productivity and
efficiency is set to be the major driver for the growth of the Neural Network Software
Market. The rise in demand for smart homes, emergence of quantum computing as
well as development of smart cities are some of the impacting factors that
accelerate the global Neural Network Software Market. In addition to this
adoption of advanced technology leads to generation of huge volume of data which is
also one of the key factors assisting the market growth during the forecast
period. The rising demand for machine vision, computer processing and
deep feed forward based devices is driving the adoption of artificial neural
networks and recurrent neural networks.
Report Coverage
The report based on: “Neural Network Software
Market– Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis
of the following segments.
By
Component: Platform,
Software, Services.
By Type Data Mining & Archiving,
Analytical Software, Optimization Software, Visualization Software
By Application: Smart home, smart
devices, Robots and Drones, Natural Language Processing, Augmented Reality,
Video analytics, Image processing, Others.
By
End-User: Automotive,
Security & Surveillance, Healthcare, Consumer Electronics, Retail, Others.
By
Geography: North
America (USA, Canada, Mexico), Europe(Germany, UK, France, Italy, Spain, Russia
and Others), APAC(China, Japan India, South Korea, Australia and Others), South
America (Brazil, Argentina and others) and ROW (Middle East and Africa)
Key Takeaways
- The
Key players in the Neural Network Software Market are CEVA Inc, Qualcomm
Inc, Intel Corporation, IBM Corporation and so on with contracts and
partnerships being adopted as key strategies.
- Consumer
Electronics is the fastest growing segment during the forecast period
2021-2026 owing to the increase in demand of smart phones and other smart
devices.
- North
America dominated the market with a share of 36.2% in terms of value in
2020 due to the adoption of latest technologies among organizations as
well as high investment to develop new technologies.
Global Neural Network Software Market Share, By Region, 2020 (%)
For More Details on This Report - Request for Sample
Neural Network Software Market Segment Analysis - by Applications
Smart devices are analyzed to hold a significant growth at CAGR of 24.1% during the forecast period 2021-2026. APAC region is anticipated to witness the highest growth during the forecast period. Factors such as rapid urbanization, high population, high living standard and strong economic growth are set to be the key influencers for the growth of the market. APAC region is the manufacturing hub of smart devices. As per 2020 estimate, APAC region had the largest number of internet users globally with China ranked first with 854.5 million users and India being second with 687.6 million.
Neural Network Software Market Segment Analysis - by End- User
Consumer Electronics is the fastest growing segment in Neural Network Software Market and is estimated to grow at around CAGR 23.5% during the forecast period 2021-2026, owing to the adoption of smart phones and smart devices. Samsung unveils new world for mobile phone by using neural processing units which are incorporated in mobile processor to deliver new advanced level of vision intelligence in mobile phones. In February 2020, Samsung launched Galaxy S20 Series with features like intelligent battery, neural processor and massive storage that would accelerate ML workload. Automotive sector also witnessed a significant growth in the market due to increase in demand for autonomous vehicle for tracking vehicles and detecting traffic lights. For instance Tesla, global provider for autonomous vehicle technology, announced the use of Tesla owned AI chip which covers neural network to be used in self driven cars.
Neural Network Software Market Segment Analysis - by Geography
North America dominated the Neural Network Software Market with a share of 37% in 2020, owing to the significant adoption of advanced technologies across various organizations. The presence of large number of key players investing towards improved processor is also analyzed to be one of the major drivers for the growth of the market. In addition to this growing investment in AI start-up is also a driving factor for the growth of the regional market. USA and Canada are extremely well developed and highly skilled labor pool with renowned research and development institution influencing the development of new technology in this region. According to a survey conducted by Tech Nation USA made an investment of $92 billion in emerging technologies such as AI, Robotics etc that influences the market growth of neural network processor.
Neural Network Software Market Drivers
Increasing demand for smart devices and smart cities
The emerging technologies like AI and IOT have the capacity to initiate smart city programs in developing countries. AI and IOT enabled devices generate huge amount of data. Due to quick growth in the volume of data, there is surge in demand for high speed processors among all industries which is certainly influencing the development of the market. For instance in January 2021, DSP Group Inc, a leading provider of wireless and voice processing chipset solution announced the launch of low cost effective AI and ML SOC i.e. DBM10. The SOC contains Digital Signal Processor and nNetlite Neural Network Processor.
Increase in investment in emerging technologies
Investment
in AI and Neural Network are a great commercial opportunity for every business.
Neural Network Processor is used for object and sound detection, sound
recognition, object tracking, facial recognition, keyword spotting and packet
inspection. These features are embedded in smart devices. Government also spend
huge amount in development of AI and real time analytics that is set to drive the Software
Market. As per recent estimate, USA has the most AI start-up with venture
capital funding. USA companies increased global AI investment by 56% between
2020 and 2015.
Neural Network Software Market Challenges
Lack of skilled workforce
Companies
across all industries do not have much AI talent. Even during economic crunch
due to COVID19 pandemic, the demand for AI talent has been strong. Leaders want
to reduce cost through efficiency and automation and thus AI, Deep Learning
Neural Network plays a pivotal role in that effort. As per report released by
the Indian Government in 2020, India is facing shortage of skilled workforce in
AI, ML, blockchain, Internet of Things, cyber security and data analytics. The
gap will increase in coming years as per the report.
Neural Network Software Market Landscape
Partnerships, acquisitions, collaboration along with product launches are the key strategies adopted by the players in the Neural Network Software Market. The top 10 companies include CEVA Inc, Qualcomm Inc, Intel Corporation, IBM Corporation, Google Inc, NVIDIA Corporation, Brainchip Holdings Limited, Advanced Microdevices Inc, Graphcore Ltd and NXP Semiconductor.
Acquisitions/Technology Launches/Partnerships
- In September 2019, Ceva Inc announced NeuPro-S processor which is designed for deep neural network workloads with features like high performance, improved power and memory bandwidth efficiency.
- In August 2019, Intel Corporation announced the launch of AI-powered Nevana Neural Network Processor. The Processor is divided into Intel Nervana NNP-I (code-named Spring Hill) and Intel Nevana NNP-T (code-named Spring Crest).
Relevant Reports:
Neuromorphic Chip Market- Forecast Period 2021-2026
Report
Code - ESR 18684
Neural
Network Processor Market - Forecast(2021 - 2026)
Report
Code – ESR 0689
For more Information and Communications Technology Market reports, please click here
LIST OF TABLES
1.Global Neural Network Software Market Analysis By Component Market 2023-2030 ($M)1.1 Neural Network Software Market 2023-2030 ($M) - Global Industry Research
1.2 Services Market 2023-2030 ($M) - Global Industry Research
2.Global Neural Network Software Market Analysis By Type Market 2023-2030 ($M)
2.1 Data Mining & Archiving Market 2023-2030 ($M) - Global Industry Research
2.2 Analytical Software Market 2023-2030 ($M) - Global Industry Research
2.3 Optimization Software Market 2023-2030 ($M) - Global Industry Research
2.3.1 Genetic Algorithm Market 2023-2030 ($M)
2.3.2 Simulated Annealing Market 2023-2030 ($M)
2.4 Visualization Software Market 2023-2030 ($M) - Global Industry Research
3.Global Neural Network Software Market Analysis By Vertical Market 2023-2030 ($M)
3.1 BFSI Market 2023-2030 ($M) - Global Industry Research
3.2 Government & Defense Market 2023-2030 ($M) - Global Industry Research
3.3 Energy & Utilities Market 2023-2030 ($M) - Global Industry Research
3.4 Healthcare Market 2023-2030 ($M) - Global Industry Research
3.5 Industrial Manufacturing Market 2023-2030 ($M) - Global Industry Research
3.6 Media Market 2023-2030 ($M) - Global Industry Research
3.7 Retail & Ecommerce Market 2023-2030 ($M) - Global Industry Research
3.8 Transportation & Logistics Market 2023-2030 ($M) - Global Industry Research
3.9 Telecom & It Market 2023-2030 ($M) - Global Industry Research
4.Global Neural Network Software Market Analysis By Component Market 2023-2030 (Volume/Units)
4.1 Neural Network Software Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Services Market 2023-2030 (Volume/Units) - Global Industry Research
5.Global Neural Network Software Market Analysis By Type Market 2023-2030 (Volume/Units)
5.1 Data Mining & Archiving Market 2023-2030 (Volume/Units) - Global Industry Research
5.2 Analytical Software Market 2023-2030 (Volume/Units) - Global Industry Research
5.3 Optimization Software Market 2023-2030 (Volume/Units) - Global Industry Research
5.3.1 Genetic Algorithm Market 2023-2030 (Volume/Units)
5.3.2 Simulated Annealing Market 2023-2030 (Volume/Units)
5.4 Visualization Software Market 2023-2030 (Volume/Units) - Global Industry Research
6.Global Neural Network Software Market Analysis By Vertical Market 2023-2030 (Volume/Units)
6.1 BFSI Market 2023-2030 (Volume/Units) - Global Industry Research
6.2 Government & Defense Market 2023-2030 (Volume/Units) - Global Industry Research
6.3 Energy & Utilities Market 2023-2030 (Volume/Units) - Global Industry Research
6.4 Healthcare Market 2023-2030 (Volume/Units) - Global Industry Research
6.5 Industrial Manufacturing Market 2023-2030 (Volume/Units) - Global Industry Research
6.6 Media Market 2023-2030 (Volume/Units) - Global Industry Research
6.7 Retail & Ecommerce Market 2023-2030 (Volume/Units) - Global Industry Research
6.8 Transportation & Logistics Market 2023-2030 (Volume/Units) - Global Industry Research
6.9 Telecom & It Market 2023-2030 (Volume/Units) - Global Industry Research
7.North America Neural Network Software Market Analysis By Component Market 2023-2030 ($M)
7.1 Neural Network Software Market 2023-2030 ($M) - Regional Industry Research
7.2 Services Market 2023-2030 ($M) - Regional Industry Research
8.North America Neural Network Software Market Analysis By Type Market 2023-2030 ($M)
8.1 Data Mining & Archiving Market 2023-2030 ($M) - Regional Industry Research
8.2 Analytical Software Market 2023-2030 ($M) - Regional Industry Research
8.3 Optimization Software Market 2023-2030 ($M) - Regional Industry Research
8.3.1 Genetic Algorithm Market 2023-2030 ($M)
8.3.2 Simulated Annealing Market 2023-2030 ($M)
8.4 Visualization Software Market 2023-2030 ($M) - Regional Industry Research
9.North America Neural Network Software Market Analysis By Vertical Market 2023-2030 ($M)
9.1 BFSI Market 2023-2030 ($M) - Regional Industry Research
9.2 Government & Defense Market 2023-2030 ($M) - Regional Industry Research
9.3 Energy & Utilities Market 2023-2030 ($M) - Regional Industry Research
9.4 Healthcare Market 2023-2030 ($M) - Regional Industry Research
9.5 Industrial Manufacturing Market 2023-2030 ($M) - Regional Industry Research
9.6 Media Market 2023-2030 ($M) - Regional Industry Research
9.7 Retail & Ecommerce Market 2023-2030 ($M) - Regional Industry Research
9.8 Transportation & Logistics Market 2023-2030 ($M) - Regional Industry Research
9.9 Telecom & It Market 2023-2030 ($M) - Regional Industry Research
10.South America Neural Network Software Market Analysis By Component Market 2023-2030 ($M)
10.1 Neural Network Software Market 2023-2030 ($M) - Regional Industry Research
10.2 Services Market 2023-2030 ($M) - Regional Industry Research
11.South America Neural Network Software Market Analysis By Type Market 2023-2030 ($M)
11.1 Data Mining & Archiving Market 2023-2030 ($M) - Regional Industry Research
11.2 Analytical Software Market 2023-2030 ($M) - Regional Industry Research
11.3 Optimization Software Market 2023-2030 ($M) - Regional Industry Research
11.3.1 Genetic Algorithm Market 2023-2030 ($M)
11.3.2 Simulated Annealing Market 2023-2030 ($M)
11.4 Visualization Software Market 2023-2030 ($M) - Regional Industry Research
12.South America Neural Network Software Market Analysis By Vertical Market 2023-2030 ($M)
12.1 BFSI Market 2023-2030 ($M) - Regional Industry Research
12.2 Government & Defense Market 2023-2030 ($M) - Regional Industry Research
12.3 Energy & Utilities Market 2023-2030 ($M) - Regional Industry Research
12.4 Healthcare Market 2023-2030 ($M) - Regional Industry Research
12.5 Industrial Manufacturing Market 2023-2030 ($M) - Regional Industry Research
12.6 Media Market 2023-2030 ($M) - Regional Industry Research
12.7 Retail & Ecommerce Market 2023-2030 ($M) - Regional Industry Research
12.8 Transportation & Logistics Market 2023-2030 ($M) - Regional Industry Research
12.9 Telecom & It Market 2023-2030 ($M) - Regional Industry Research
13.Europe Neural Network Software Market Analysis By Component Market 2023-2030 ($M)
13.1 Neural Network Software Market 2023-2030 ($M) - Regional Industry Research
13.2 Services Market 2023-2030 ($M) - Regional Industry Research
14.Europe Neural Network Software Market Analysis By Type Market 2023-2030 ($M)
14.1 Data Mining & Archiving Market 2023-2030 ($M) - Regional Industry Research
14.2 Analytical Software Market 2023-2030 ($M) - Regional Industry Research
14.3 Optimization Software Market 2023-2030 ($M) - Regional Industry Research
14.3.1 Genetic Algorithm Market 2023-2030 ($M)
14.3.2 Simulated Annealing Market 2023-2030 ($M)
14.4 Visualization Software Market 2023-2030 ($M) - Regional Industry Research
15.Europe Neural Network Software Market Analysis By Vertical Market 2023-2030 ($M)
15.1 BFSI Market 2023-2030 ($M) - Regional Industry Research
15.2 Government & Defense Market 2023-2030 ($M) - Regional Industry Research
15.3 Energy & Utilities Market 2023-2030 ($M) - Regional Industry Research
15.4 Healthcare Market 2023-2030 ($M) - Regional Industry Research
15.5 Industrial Manufacturing Market 2023-2030 ($M) - Regional Industry Research
15.6 Media Market 2023-2030 ($M) - Regional Industry Research
15.7 Retail & Ecommerce Market 2023-2030 ($M) - Regional Industry Research
15.8 Transportation & Logistics Market 2023-2030 ($M) - Regional Industry Research
15.9 Telecom & It Market 2023-2030 ($M) - Regional Industry Research
16.APAC Neural Network Software Market Analysis By Component Market 2023-2030 ($M)
16.1 Neural Network Software Market 2023-2030 ($M) - Regional Industry Research
16.2 Services Market 2023-2030 ($M) - Regional Industry Research
17.APAC Neural Network Software Market Analysis By Type Market 2023-2030 ($M)
17.1 Data Mining & Archiving Market 2023-2030 ($M) - Regional Industry Research
17.2 Analytical Software Market 2023-2030 ($M) - Regional Industry Research
17.3 Optimization Software Market 2023-2030 ($M) - Regional Industry Research
17.3.1 Genetic Algorithm Market 2023-2030 ($M)
17.3.2 Simulated Annealing Market 2023-2030 ($M)
17.4 Visualization Software Market 2023-2030 ($M) - Regional Industry Research
18.APAC Neural Network Software Market Analysis By Vertical Market 2023-2030 ($M)
18.1 BFSI Market 2023-2030 ($M) - Regional Industry Research
18.2 Government & Defense Market 2023-2030 ($M) - Regional Industry Research
18.3 Energy & Utilities Market 2023-2030 ($M) - Regional Industry Research
18.4 Healthcare Market 2023-2030 ($M) - Regional Industry Research
18.5 Industrial Manufacturing Market 2023-2030 ($M) - Regional Industry Research
18.6 Media Market 2023-2030 ($M) - Regional Industry Research
18.7 Retail & Ecommerce Market 2023-2030 ($M) - Regional Industry Research
18.8 Transportation & Logistics Market 2023-2030 ($M) - Regional Industry Research
18.9 Telecom & It Market 2023-2030 ($M) - Regional Industry Research
19.MENA Neural Network Software Market Analysis By Component Market 2023-2030 ($M)
19.1 Neural Network Software Market 2023-2030 ($M) - Regional Industry Research
19.2 Services Market 2023-2030 ($M) - Regional Industry Research
20.MENA Neural Network Software Market Analysis By Type Market 2023-2030 ($M)
20.1 Data Mining & Archiving Market 2023-2030 ($M) - Regional Industry Research
20.2 Analytical Software Market 2023-2030 ($M) - Regional Industry Research
20.3 Optimization Software Market 2023-2030 ($M) - Regional Industry Research
20.3.1 Genetic Algorithm Market 2023-2030 ($M)
20.3.2 Simulated Annealing Market 2023-2030 ($M)
20.4 Visualization Software Market 2023-2030 ($M) - Regional Industry Research
21.MENA Neural Network Software Market Analysis By Vertical Market 2023-2030 ($M)
21.1 BFSI Market 2023-2030 ($M) - Regional Industry Research
21.2 Government & Defense Market 2023-2030 ($M) - Regional Industry Research
21.3 Energy & Utilities Market 2023-2030 ($M) - Regional Industry Research
21.4 Healthcare Market 2023-2030 ($M) - Regional Industry Research
21.5 Industrial Manufacturing Market 2023-2030 ($M) - Regional Industry Research
21.6 Media Market 2023-2030 ($M) - Regional Industry Research
21.7 Retail & Ecommerce Market 2023-2030 ($M) - Regional Industry Research
21.8 Transportation & Logistics Market 2023-2030 ($M) - Regional Industry Research
21.9 Telecom & It Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Neural Network Software Market Revenue, 2023-2030 ($M)2.Canada Neural Network Software Market Revenue, 2023-2030 ($M)
3.Mexico Neural Network Software Market Revenue, 2023-2030 ($M)
4.Brazil Neural Network Software Market Revenue, 2023-2030 ($M)
5.Argentina Neural Network Software Market Revenue, 2023-2030 ($M)
6.Peru Neural Network Software Market Revenue, 2023-2030 ($M)
7.Colombia Neural Network Software Market Revenue, 2023-2030 ($M)
8.Chile Neural Network Software Market Revenue, 2023-2030 ($M)
9.Rest of South America Neural Network Software Market Revenue, 2023-2030 ($M)
10.UK Neural Network Software Market Revenue, 2023-2030 ($M)
11.Germany Neural Network Software Market Revenue, 2023-2030 ($M)
12.France Neural Network Software Market Revenue, 2023-2030 ($M)
13.Italy Neural Network Software Market Revenue, 2023-2030 ($M)
14.Spain Neural Network Software Market Revenue, 2023-2030 ($M)
15.Rest of Europe Neural Network Software Market Revenue, 2023-2030 ($M)
16.China Neural Network Software Market Revenue, 2023-2030 ($M)
17.India Neural Network Software Market Revenue, 2023-2030 ($M)
18.Japan Neural Network Software Market Revenue, 2023-2030 ($M)
19.South Korea Neural Network Software Market Revenue, 2023-2030 ($M)
20.South Africa Neural Network Software Market Revenue, 2023-2030 ($M)
21.North America Neural Network Software By Application
22.South America Neural Network Software By Application
23.Europe Neural Network Software By Application
24.APAC Neural Network Software By Application
25.MENA Neural Network Software By Application
26.Google, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.IBM, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Microsoft, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Oracle, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Intel, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Qualcomm, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.SAP, Sales /Revenue, 2015-2018 ($Mn/$Bn)