Artificial Neural Network Market Eyeing for an Exponential Growth

Pune, India, February,2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Artificial Neural Network Market.

Market Analysis

The global artificial neural network (ANN) market is expected to grow exponentially at an appealing CAGR over the assessment period (2018-2023). Artificial neural network also called neural network is different from the remaining machine learning algorithms which organize data or crunch numbers. This is basically a computational model that resembles the structure and function of the neuron system present in the human brain. This software can be utilized for clinical diagnosis of different diseases, drug development, medical research and interpretation of the clinical imaging techniques.

There are various factors that is driving the growth of the artificial neural network market according to MRFR (Market Research Future) Report. These include growth in the Information Technology expenditure in the emerging nations, advancements in technology for workflow optimization, increasing demand for cloud-based solutions, need for analytics tools and spatial data, rise in market for prediction solutions, growing application areas for deep neural networks, emergence of AI (artificial intelligence), rising healthcare investment by the government especially in developed regions, increasing existence of various chronic diseases and increasing use of artificial neural network in healthcare domain. On the contrary, factors such as reluctance amid healthcare experts in adopting AI based technologies and slow digitization across the emerging economies are likely to hamper the growth of the artificial neural network market.Browse Complete Report @ https://www.marketresearchfuture.com/reports/artificial-neural-network-market-6287

Market Segmentation

As per MRFR report, the global artificial neural network market is segmented on the basis of type, component and application.

Based on type, it is segmented into feedforward artificial neural network, feedback artificial neural network and others. Of these, the feedforward network is anticipated to have the maximum share in the artificial neural network market.

Based on component, the artificial neural network market is segmented into platform, services and software.

Based on application, it is segmented into drug development, interpretation, bioelectric signal analysis, image analysis & interpretation, clinical diagnosis & prognostics and others.

Regional Analysis

Based on region, the artificial neural network market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Middle East and Africa. Of these, North America will have an upper hand in the artificial neural network market due to increasing use of advanced technology in the healthcare domain, existence of a huge number of enterprises especially in the creation of neural network technologies and the presence of a well-developed healthcare sector. The artificial neural network market in the Middle East and Africa will have a minimal share in the market but nonetheless this region is anticipated in having a prospective growth opportunity for artificial neural network market over the assessment period. Here the factors that can be attributed for the growth of the market include rising investments in the healthcare domain and technological implementations. In Europe the artificial neural network market grabs the second largest share owing to the rising adoption of AI amid healthcare providers, increasing prevalence of chronic diseases and increasing healthcare expenditure. On the other hand, the artificial neural network market in the APAC region is anticipated in exhibiting the fastest growth over the assessment period due to a couple of factors such as increasing need to control the growing healthcare costs and the accelerated economic growth of some countries in this region. In fact, these factors are also accountable for the growing trend for digitization of patient records amid the region’s healthcare organizations.

Key Players

Key players profiled in the artificial neural network market include Oracle Corporation, IBM Corporation, Microsoft Corporation, Intel Corporation, Qualcomm Technologies, Inc., Neuralware, Google Inc., Alyuda Research, LLC., NeuroDimension, Inc., SAP SE, Ward Systems Group, Inc., Afiniti, SwiftKey, Neural Technologies Limited, and Starmind International AG.

Feb 2019- Researches at the NYU Tandon School of Engineering have come up with an effective machine learning system that will employ ANN (artificial neural network) to predict the behavior of the thermosetting nanocomposites over varied loading rates and range of temperature. This same approach will be applied potentially for predicting the behavior of the thermoplastic materials.