Artificial Neural Network Market Overview:
An artificial neural network is designed to imitate the neuron system of a human being. The computational model has been enriched with algorithms that help in better functioning. Artificial intelligence has a crucial role to play in it. The global artificial neural network market is eyeing for substantial profit in during the forecast period of 2018 to 2023. Market Research Future (MRFR) substantiates this claim by analyzing various factors.
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Factors that can ensure better growth speed for the artificial neural network market are surge in healthcare expenditure, growing number of hospitalizations, and hike in recording of chronic diseases. The system is also known for better provision in research facilities. Increased participation from competitors is also expected to take the market forward. However, high expenditure for the installation of such system can be deterring factor.
Artificial Neural Network Market Segmentation:
The global artificial neural network market can be segmented on the basis of type, component, and application. The segmentation, as directed by MRFR, would show a detailed analysis of factors that can contribute to the growth of the market in the coming years.
Based on the type, the global artificial neural network market can be segmented into feedforward artificial neural network, feedback artificial neural network, and others. These segments are playing a crucial role in forming the total structure. Hence, the growth would be substantial for the market.
Based on the component, the global artificial neural network market has been segmented into software, services, and platform. The software segment is expected to gain prominence in the coming years that would help the segment work seamlessly.
Based on the application, the global artificial neural network market includes clinical bioelectric signal analysis & interpretation, drug development, diagnosis & prognostics, image analysis & interpretation, and others. The drug development segment would benefit from the increasing expenditure from various pharmaceuticals.
Artificial Neural Network Market Regional Analysis:
Geographically, the the global artificial neural network market can be segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). The region-specific study holds clue to various demographic challenges that can impact the market notably.
The Americas is leading the global market with extensive investment in the research and development sector. This is getting boosted from the robust infrastructure and high expenditure capacity. The healthcare segment is well-structured and the it is facilitating the easy inclusion of this process. On the other hand, a large number of companies are present in the regional market who are fetching in substantial revenue to increase the regional market profit. Various healthcare related industries are also adopting this technology at a faster rate.
Europe is gaining substantially from the presence of several market leaders and high investment in the research and development sector. The region has a robust infrastructure for the healthcare industry and is expected to benefit substantially from the rising prevalence of chronic diseases to counter which healthcare institutions are adopting this technology. France, Germany, and the UK are expected to benefit substantially from the regional market.
The APAC market is expecting strong growth due to the hike in investment for infrastructural revamping. The regional growth would be substantial due to emerging trends of having these systems incorporated in various healthcare research centers and hospitals. Japan, China, and others are expected to fetch notable revenue for the regional market.
Artificial Neural Network Market Competitive Analysis:
Several companies in the global artificial neural network market are taking active interest to enjoy better growth possibilities in the coming years. This would happen via strategic moves that include merger, acquisition, collaboration, product launch, and others. MRFR recorded these companies for a better profiling and understanding of global trends. These companies are Starmind International AG, SwiftKey, Neural Technologies Limited, Afiniti, NeuroDimension, Inc., Ward Systems Group, Inc., SAP SE, Neuralware, Alyuda Research, LLC, Google Inc., Intel Corporation, Qualcomm Technologies, Inc., IBM Corporation, Microsoft Corporation, and Oracle Corporation.
In August 2019, Google researchers launched the new Weight Agnostic Neural Networks that would perform without assessing the weight first. This would help in devising programs that would require no training.
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