Neural Network Software Market Size to Surpass USD 432.50 Billion by 2032 | SNS Insider
The Neural Network Software market is growing rapidly, fueled by the rising adoption of AI and ML technologies across various industries.
AUSTIN, TX, UNITED STATES, February 13, 2025 /EINPresswire.com/ -- The Neural Network Software Market size was USD 36.01 Billion in 2023 and is expected to reach USD 432.50 Billion by 2032, growing at a CAGR of 31.89% over the forecast period of 2024-2032.Get Sample Copy of Report: https://www.snsinsider.com/sample-request/3807
Keyplayers:
Google LLC (Google Cloud AI, TensorFlow)
Microsoft (Azure Machine Learning, Microsoft Cognitive Services)
IBM Corporation (IBM Watson, IBM SPSS Statistics)
Intel Corporation (Intel AI Analytics Toolkit, Intel Nervana Neural Network Processor)
NVIDIA Corporation (NVIDIA CUDA, NVIDIA DeepStream)
Oracle (Oracle Cloud Infrastructure AI Services, Oracle Digital Assistant)
Qualcomm Technologies, Inc. (Qualcomm Snapdragon AI Engine, Qualcomm Neural Processing SDK)
Neural Technologies Ltd. (Neural ProfitGuard, Neural Performance Analytics)
Ward Systems Group Inc. (Ward Neural Network Toolkit, Ward Probabilistic Neural Networks)
SAP SE (SAP Leonardo, SAP AI Core)
Slagkryssaren AB (Slagkryssaren’s AI-Driven Analytics, Slagkryssaren Optimization Suite)
Starmind International AG (Starmind Knowledge Management System, Starmind AI Assistant)
Neuralware (NeuralPower, Neural Engine)
Salesforce (Einstein AI, Salesforce AI Research)
Amazon Web Services (AWS) (Amazon SageMaker, AWS DeepLens)
H2O.ai (H2O Driverless AI, H2O-3)
DataRobot (DataRobot AI Cloud, Automated Machine Learning)
C3.ai (C3 AI Suite, C3 AI Ex Machina)
OpenAI (ChatGPT, DALL-E)
Hugging Face (Transformers, Datasets)
Element AI (AI Solutions, Element AI Platform)
TIBCO Software (TIBCO Spotfire, TIBCO Data Science)
SAS Institute (SAS Viya, SAS Visual Data Mining and Machine Learning)
By Type, Analytical Systems Dominate the Market, While Data Mining and Archiving Set for Rapid Growth
In 2023, Analytical Systems led the neural network software market, accounting for over 35% of revenue. This is because more businesses are demanding actionable insights from large datasets. Businesses depend on these insights to make informed decisions, optimize work procedures, and even compete well within different industries. Hence, analytical systems become necessary to process complex data across various industries.
Data Mining and Archiving, however, is expected to experience the highest growth, driven by the increasing demand for advanced analytics and the need for effective data governance.
By Component., Neural Network Software Dominates Market, While Services Segment Shows Strong Growth
In 2023, Neural Network Software accounted for around 54% of the market's revenue due to its ability to handle complex tasks across such sectors as finance, healthcare, and technology, their ability to process large volumes of data and help in analysis that can contribute towards decision-making makes neural networks important tools in widespread use.
The Services Segment, which includes ongoing support and customization, is projected to grow rapidly with a CAGR of 32.89%, as businesses continue to rely on neural network software for decision-making and process automation.
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By End Use, BFSI Dominates Market Revenue, While IT & Telecom Sector Sees Fastest Growth
In 2023, the BFSI sector contributed approximately 35% of the neural network software market's revenue. This is because the sector relies heavily on neural network solutions in critical functions like fraud detection, risk management, and personalized customer service. They help improve security, streamline operations, and improve customer experience, hence boosting their demand.
The IT & Telecom sector, on the other hand, is expected to register the highest growth, driven by the adoption of AI technologies to optimize network security, customer analytics, and resource management.
Regional Development, North America Leads Market Share, While Asia Pacific Set for Fastest Growth
In 2023, North America held the largest share of the neural network software market, accounting for approximately 36% of the revenue. The region's leadership can be explained by the fact that major technology firms are based here, the investments in research and development are strong, and the adoption of AI technologies across finance, telecom, and healthcare sectors is also high. Additionally, the infrastructure in the region is advanced, and the AI integration into business processes has ensured North America is a leader in the neural network software market.
The Asia Pacific region is expected to experience the fastest growth rate with a CAGR of nearly 33.24% from 2024 to 2032. This rapid growth is driven by increasing digitization, the rise of AI-focused startups, and significant government investments in technological development.
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