PUBLISHER: The Business Research Company | PRODUCT CODE: 1668454
PUBLISHER: The Business Research Company | PRODUCT CODE: 1668454
Neural network software, a facet of artificial intelligence, enables computers to process data akin to the human brain. It facilitates the design, training, and testing of neural networks for diverse applications, including pattern recognition, prediction, and decision-making.
Key types of neural network software encompass data mining and archiving, analytical tools, optimization platforms, visualization software, and other specialized variants. Data mining involves scrutinizing vast datasets, leveraging neural network software to replicate complex input-output relationships, identify data patterns, or efficiently manage and gather information from company databases. This software includes components such as artificial and deep neural networks, various services, platforms, and other elements catering to end-users across sectors such as BFSI, healthcare, telecom, transportation, and various other industries.
The neural network software market research report is one of a series of new reports from The Business Research Company that provides neural network software market statistics, including global market size, regional shares, competitors with a neural network software market share, detailed neural network software market segments, market trends and opportunities, and any further data you may need to thrive in the neural network software industry. This neural network software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The neural network software market size has grown exponentially in recent years. It will grow from$33.19 billion in 2024 to $41.47 billion in 2025 at a compound annual growth rate (CAGR) of 25.0%. The growth in the historic period can be attributed to growing big data analytics, rise of artificial intelligence (ai), increasing awareness and education, advancements in hardware, emergence of deep learning, industry-specific applications
The neural network software market size is expected to see exponential growth in the next few years. It will grow to $106.03 billion in 2029 at a compound annual growth rate (CAGR) of 26.5%. The growth in the forecast period can be attributed to edge computing integration, exponential growth of iot, explainable ai (XAI), expansion of autonomous systems, continuous model improvement. Major trends in the forecast period include exponential growth in deep learning, automated machine learning (AutoML), transfer learning and pre-trained models, advancements in natural language processing (NLP), diversity in neural network architectures.
The growing demand for digitalization is expected to drive the expansion of the neural network software market in the future. Digitalization involves converting physical paper documents and files into digital formats. As more companies and industries embrace digitalization, a substantial amount of data is generated. This increase in data availability, coupled with advancements in high-performance computing systems, facilitates the broader adoption of neural network software. For example, a December 2022 report from the Digital Economy and Society Index (DESI), an annual composite index published by the European Commission that assesses Europe's digital performance, revealed that 55% of small and medium enterprises (SMEs) demonstrated a moderate level of digital proficiency in their operations, while 38% utilized electronic platforms for information sharing. Thus, the rising demand for digitalization is fueling growth in the neural network software market.
The increasing adoption of connected smart devices is anticipated to drive growth in the neural network software market in the coming years. Connected smart devices are physical objects equipped with sensors, software, and network connectivity that enable them to gather and share data for improved functionality and remote control. Neural network software plays a crucial role in these devices by providing advanced machine learning capabilities, allowing them to analyze data patterns and make intelligent decisions for enhanced user experiences. For instance, in 2023, Statistics Canada, a government agency in Canada, reported a rise in the use of Internet-connected smart devices, with usage increasing from 47% in 2022 to 50% in 2023. Among these devices, smart speakers emerged as the most popular, with a 35% adoption rate. Consequently, the growing prevalence of connected smart devices is propelling the neural network software market.
Technological advancements remain a pivotal trend shaping the neural network software market. Companies within this sector are embracing innovative technologies to solidify their market positions. Notably, in March 2023, Open AI introduced GPT-4, a natural language processing model leveraging deep neural network architecture capable of processing image and text inputs to generate human-level text outputs. GPT-4's remarkable performance spans various academic and professional benchmarks while demonstrating problem-solving capabilities across diverse domains such as mathematics, programming, law, and medicine.
Major players in the neural network software market are actively developing groundbreaking technologies, including on-chip neural networks (NetGNT), to offer advanced functionalities such as traffic analysis. Broadcom Inc.'s November 2023 launch of Trident 5-X12 stands as a prime example, introducing the first switch integrated with an on-chip neural network (NetGNT). This innovation enables machine learning capabilities directly on the semiconductor chip, enhancing network efficiency by identifying traffic patterns across the chip. The Trident 5-X12 boasts a bandwidth of 16.0 Terabits/second, double that of its predecessor, and supports 800G ports for direct connection to Tomahawk 5. It's a power-efficient solution for data centers, consuming 25% less power per 400G port while delivering enhanced telemetry capabilities and maintaining compatibility with legacy APIs.
In August 2023, Advanced Micro Devices, Inc. (AMD), a U.S.-based fabless semiconductor company, acquired Mipsology SAS for an undisclosed amount. This acquisition is intended to strengthen AMD's competitive position against rivals like Nvidia by enhancing its AI software stack, which is essential for both training and inference tasks in neural networks. By leveraging Mipsology's expertise, AMD aims to broaden its offerings in the neural network software market, enabling more efficient deployment and improved performance of AI applications across various industries, including autonomous vehicles and smart manufacturing. Mipsology SAS is a France-based AI software company recognized for its innovative solutions in deep learning inference, particularly through its flagship product.
Major companies operating in the neural network software market include Google LLC, Microsoft Corporation, Intel Corporation, IBM Corporation, Alyuda Research LLC, Neural Technologies Limited, Starmind International AG, Ward Systems Group Inc., Afiniti Ltd., NVIDIA Corporation, Oracle Corporation, Qualcomm Technologies Inc., GMDH Inc., Amazon.com Inc., Meta Platforms Inc., Cognex Corporation, BrainChip Holdings Ltd., Skymind Inc., Sentient Technologies, Vicarious, General Vision Inc., Darktrace Limited, Ayasdi Inc., Numenta Inc., Preferred Networks Inc., AIBrain AB, Fluid AI Inc., Clarifai Inc., Squirrel AI Inc., Darwin AI
Asia-Pacific was the largest region in the Neural network software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global neural network software market report during the forecast period. The regions covered in the neural network software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the neural network software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The neural network software market includes revenues earned by entities through providing neural network software services, including knowledge discovery in data, medical diagnosis, targeted marketing, and chemical compound identification. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The neural network software market consists of sales of standalone software, cloud-based software, and open-source software. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Neural Network Software Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on neural network software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for neural network software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The neural network software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.