Published on : Jul 28, 2017
Albany, New York, July 28, 2017: For problems such as learning to interpret real world sensor data, use of artificial neural networks, which is an artificial intelligence method to model complex target functions, is most effective. This is estimated to drive the global neural network software market in the years to come. The growing deployment of LTE wireless broadband is driving the growth of the global neural network software market, states a new report added by ResearchMoz.us. The report is titled, “Global Neural Network Software Market 2017-2021.” Implementation of neural network software helps organizations to achieve real time information and improve efficiency by increasing the speed and also enhances the accuracy of the data shared without the intervention of humans.
The global neural network software market is slated to expand at a 26% CAGR between2017 and 2021. Enterprises across the globe are making use of these software for risk assessment, fraud detection, and similar other business applications. Neural network software is being used extensively for financial operations, business analytics, product maintenance, and trading. As the software helps in reducing the cost and time of various processes, it is in high demand.
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The report states that the growth and penetration of internet of things and technological advancements are key reasons behind the growth of the neural network software market. An increased adoption of connected devices among enterprises and users is aiding the growth of this market. The growing demand for predicting solutions and an upward trend of adopting digital technologies are also helping the neural network software market to grow. On the other hand, emerging economies are adopting digitization at a slow rate which is hampering the growth of this market. Additionally a lack of technical expertise is resulting in operational challenges, which is expected to restrict the growth of the neural network software market.
Competition is high in the market on account of the presence of numerous vendors. Players in the market are trying to gain higher shares in the market by constantly striving for innovation and developments that cater to the needs of customers. Large players are acquiring smaller ones so as to gain technological advancements apart from strengthening their market presence.
Some of the key players operating in this market are profiled in the report for the purpose of study. They are: Hewlett Packard Enterprise Development, Alyuda Research, Deep Instinct, Hu:toma Artificial Intelligence, IBM, XENON Systems, Intel, XILINX, Microsoft, Neurala, Qualcomm Technologies, Cloudera, Enlitic, Cognisess, GUMGUM, MulticoreWare, Wave Computing, NeuroDimension, Palisade, and Ward Systems Group. The business and financial overview of these companies along with their recent accomplishments have been included in the report. The key strategies adopted by the leading players have also been revealed.
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