The Artificial Neural Network Market are the emergence of artificial intelligence, increasing healthcare expenditures by the government in developed regions, and increasing adoption of the artificial neural network in the healthcare sector.
Moreover, the increasing prevalence of several chronic diseases globally is likely to contribute to the growth of the artificial neural network. In January 2017, a scientist demonstrated that the IBM Watson for oncology would be a reliable Artificial Intelligence (AI) system for assisting the diagnosis of cancer.
Global Artificial Neural Network Market Key Players
Starmind International AG, Neural Technologies Limited, SwiftKey, Afiniti, Ward Systems Group, Inc., SAP SE, NeuroDimension, Inc., Alyuda Research, LLC., Google Inc., Neuralware, Qualcomm Technologies, Inc., Intel Corporation, Microsoft Corporation, IBM Corporation and Oracle Corporation.
The Global Artificial Neural Network Market has been segmented into type, component, and application.
The market, on the basis of type, has been segmented into feedback artificial neural network, feedforward artificial neural network, and others.
The market, by component, has been segmented into software, services, and platform.
The Global Artificial Neural Network industry, by application, has been segmented into clinical diagnosis and prognostics, image analysis and interpretation, bioelectric signal analysis and interpretation, drug development, and others.
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Regional Market Summary
Geographically, the Americas is anticipated to dominate the global artificial neural network market owing to a well-developed healthcare sector, due to the presence of a large number of enterprises in the development of neural network technologies, and high adoption advanced technology in the healthcare sector. According to the Centers for Disease Control and Prevention, in 2015, the total national health expenditure was USD 3.2 trillion.
Europe is expected to hold the second largest position in the global artificial neural network market. The market growth in this region is attributed to the growing adoption of artificial intelligence among healthcare providers and increasing healthcare expenditure coupled with the rising prevalence of chronic diseases.
The Asia-Pacific region is expected to exhibit the fastest growth throughout the forecast period owing to the accelerated economic growth of countries in the region and the growing need to control the increasing healthcare costs. These factors are also responsible for the emerging trend towards the digitization of patient records among healthcare organizations in this region.
The Middle East & Africa has the least share of the global artificial neural network market. However, this region is expected to have a potential growth opportunity for the artificial neural network market during the forecast period. The key factors driving the growth rate in this region include increasing technological implementations and rising healthcare investments.
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