Deep Neural Networks Market Size Worth USD 15.77 Billion in 2032 | Emergen Research

Vancouver, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The Global Deep Neural Networks Market is projected to reach USD 15.77 billion in 2032. The market is expected to be driven owing to extensive rise in the big data analytics, emergence of the deep learning through neural networks and cognitive analytical procedures in various verticals including IT & Telecommunication, BFSI, e-commerce, and healthcare, among others. The rising implementation of the deep neural networks in clinical diagnosis, image & signal analysis and interpretation, and drug & vaccine development, among others, are propelling the market growth broadly. The BFSI sector segment had a mentionable market share due to numerous application areas related to financial analysis, predictive costing, risk investigation, and others.

By eliminating the logical burden from an application developer and disregarding the rule-based preset algorithms, deep neural networks sets an artificial humanlike cognizance which further opens up a wide range of new possibilities to solve many kind of applications without a human inspector. Incorporating neural networks make the computer visions quite easier to work with and extends the limit of what the conventional programming could do.

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Scope of Research

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MAJOR COMPANIES and Market Share Analysis

The market for Deep Neural Networks Market is fairly in the consolidated side, with a number of small as well as medium-sized companies, which account for a major global share of the market. The crucial players involved in the Deep Neural Networks Market are desegregated across the value chain. The key companies of the market are well-equipped with large production facilities and are also engaged in various research & development activities. Some of the prominent players in the market include:

• Google
• Oracle
• Microsoft
• IBM
• Qualcomm
• Intel
• Ward Systems
• Starmind
• Neurala
• NeuralWare
• Clarifai

 Strategic Development

In 2018, Switzerland based leading AI Tech company, Starmind, announced an investment of USD 15 Million in its self-learning next generation designing and algorithms, based on the artificial neural network.

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Further key findings from the report suggest

• Software and applications are the most commonly used attributes that have been incorporating deep neural networks in use for research simulators, building visualization to monitor training process, simulate the behavior of the consumers using the apps and software, among others. Software and application sub-segment is growing at a CAGR of 22.6% throughout the forecast period.
• The market is projected to see a substantial growth owing to its huge implementation in various sectors especially in North American region. Increasing use of advanced technology in BFSI, IT & Telecommunication and Healthcare sectors is anticipated to stimulate demand for the deep neural networks in the region.
• The deep neural networks are widely used in the field of visualization and visual analytics for the communicating information and discovering meaningful insights by using various visual encodings to transform the abstract data into useful representations.

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For the purpose of this report, Emergen Research has segmented into the global Deep Neural Networks Market on the basis of Component, Application, Deployment Mode, End-Use Verticals, and region:

• Component Outlook (Revenue: USD Billion; 2019-2032)$1
  • Software & Application
  • Services
• Application Outlook (Revenue: USD Billion; 2019-2032)$1$1
  • Data Preprocessing
  • Analytical Tools
  • Visualization
  • Optimization
  • Others
• Deployment Mode Outlook (Revenue: USD Billion; 2019-2032)
  • Cloud
  • On-Premises
• End-Use Verticals Outlook (Revenue: USD Billion; 2019-2032)
  • BFSI
  • IT & Telecommunication
  • Electronics & Semiconductors
  • Aerospace & Defense
  • Healthcare & Biotechnology
  • Energy & Utilities
  • Manufacturing Industries
  • Retail & E-Commerce
  • Others
• Regional Outlook (Revenue: USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. UK
    2. Germany
    3. France
    4. BENELUX
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • MEA
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

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