Dublin, Nov. 21, 2024 (GLOBE NEWSWIRE) -- The "Artificial Neural Networks - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Artificial Neural Networks was estimated at US$768.3 Million in 2023 and is projected to reach US$1.5 Billion by 2030, growing at a CAGR of 10.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth of the Artificial Neural Networks market is driven by several converging factors that highlight the rising demand for AI-driven solutions across various sectors. One major driver is the increase in data generation from digital platforms, IoT devices, and social media, creating an unprecedented amount of data that neural networks can analyze to reveal patterns and make predictions. As companies across industries recognize the value of data-driven insights, the adoption of ANNs for tasks like predictive maintenance, customer segmentation, and product recommendations has surged.
Advances in computational power, particularly the development of powerful GPUs and specialized AI hardware like TPUs, have also made it feasible to train large and deep neural networks faster and more affordably, accelerating their deployment in real-time applications. Furthermore, the continuous refinement of deep learning frameworks and tools has lowered the technical barriers to working with ANNs, enabling more companies to adopt these technologies for their operations. Industries like healthcare and autonomous vehicles benefit particularly from ANNs, where precision and accuracy are critical, and regulatory compliance demands the use of state-of-the-art technology.
How Are Neural Networks Applied Across Different Industries?
Artificial Neural Networks have become pivotal in transforming a wide range of industries by powering applications that require complex data processing and predictive capabilities. In healthcare, for instance, ANNs are used to analyze medical images, aiding in the detection of diseases like cancer by identifying patterns that may elude human diagnosticians. Neural networks are also instrumental in genomics, where they help map genes and predict disease risks based on genetic information. In finance, neural networks power fraud detection systems, monitoring large volumes of transactions for anomalies that could indicate fraudulent activity.
Additionally, they play a key role in algorithmic trading, where they analyze market trends, predict price fluctuations, and make high-frequency trading decisions with minimal human intervention. In the automotive sector, ANNs are the backbone of autonomous driving systems, enabling vehicles to recognize objects, interpret traffic signals, and make split-second decisions to navigate complex environments safely.
The retail industry also leverages neural networks for personalized recommendations, analyzing customer behavior to suggest products and tailor marketing strategies. Through these diverse applications, ANNs have demonstrated their versatility and impact, helping industries achieve breakthroughs in automation, precision, and predictive accuracy, ultimately reshaping business models and enhancing operational efficiency.
How Do Deep Neural Networks Differ from Traditional Neural Networks?
Deep Neural Networks (DNNs) are an advanced form of artificial neural networks that feature multiple layers of hidden neurons, allowing them to learn intricate patterns and representations from vast amounts of data. While traditional neural networks, or shallow networks, may consist of only one or two hidden layers, DNNs can have dozens or even hundreds of layers, making them particularly effective for complex tasks like image recognition, natural language processing, and voice recognition.
This depth enables DNNs to capture hierarchical patterns in data, where each successive layer learns increasingly abstract features; for example, in image processing, early layers might detect edges and shapes, while deeper layers recognize complex structures like faces or objects. The increased complexity of DNNs, however, requires significant computational power and large datasets to train effectively, which has become feasible only recently with advances in GPU processing and big data availability.
The backpropagation algorithm, combined with specialized activation functions and regularization techniques, helps DNNs avoid overfitting and maintain accuracy. Deep learning techniques, powered by DNNs, have led to significant breakthroughs in AI, such as real-time language translation, object detection in videos, and conversational agents that can understand and generate human-like responses, pushing the boundaries of what neural networks can accomplish.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Artificial Neural Networks Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Artificial Neural Networks Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Image Recognition Application segment, which is expected to reach US$562.2 Million by 2030 with a CAGR of a 9.8%. The Signal Recognition Application segment is also set to grow at 10.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $208.9 Million in 2023, and China, forecasted to grow at an impressive 9.0% CAGR to reach $223.9 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Segments
- Application (Image Recognition, Signal Recognition, Data Mining, Other Applications); Vertical (BFSI, Retail & eCommerce, IT & Telecom, Healthcare & Life Sciences, Manufacturing, Other Verticals)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 93 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $768.3 Million |
| Forecasted Market Value (USD) by 2030 | $1500 Million |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Artificial Neural Networks - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Demand for Advanced Data Analytics Propels Growth of Artificial Neural Networks
- Increasing Focus on Predictive Modeling Drives Adoption of Neural Networks Across Industries
- Here`s How Deep Learning Advances Boost Performance and Complexity of Neural Network Architectures
- Growing Use of Artificial Neural Networks in Image and Speech Recognition Expands Market Scope
- Rising Demand for Autonomous Vehicles Fuels Development of Real-Time Neural Network Processing
- Here`s How Neural Networks in Healthcare Support Early Disease Detection and Diagnosis
- Increasing Application of Neural Networks in Fraud Detection Strengthens Demand in Finance Sector
- Focus on Real-Time Analytics and Decision Making Expands Use of Neural Networks in IoT
- Growing Adoption of Natural Language Processing Drives Innovation in Language-Based Neural Networks
- Here`s How AI-Powered Personalization Enhances Customer Experiences Through Neural Networks
- Increasing Demand for Autonomous Systems Expands Applications of Neural Networks in Robotics
- Advances in Neural Architecture Search (NAS) Improve Efficiency and Accuracy of Neural Networks
- Growing Focus on Explainable AI Fuels Demand for Transparent and Interpretable Neural Networks
FOCUS ON SELECT PLAYERS:Some of the 37 companies featured in this Global Artificial Neural Networks Market report include
- Alyuda
- Clarifai
- GMDH, LLC
- Google LLC
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- Neurala
- Neuralware
- Oracle Corporation
- Qualcomm
- Starmind
- Ward Systems
For more information about this report visit https://www.researchandmarkets.com/r/ntvdbg
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