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The North America Neural Network Software Market Size is poised to grow at a CAGR of 30.7% during the forecast period (2016-2022).
Neural network software is used in stimulating, researching, developing, and applying artificial neural networks to a wide array of adaptive systems such as artificial intelligence and machine learning. Neural network simulators are software applications used in stimulating the behavior of artificial or biological neural networks, with a focus on one or a limited number of specific types of neural networks. The most common type of neural network software historically was use in researching neural network structures and algorithms. The modern type of development environments majorly favors the component based systems. The rapid developments in infrastructure and higher adoption of digital technologies are the two major drivers that have contributed to the growth of the neural network software market. Furthermore, the U.S is the most technologically advanced region with the presence of different business verticals such as BFSI, healthcare, retail & eCommerce, energy & utilities, and many others.
Major challenges of the component-based development environments are that they are more complex than simulators and require more learning to fully operate and are more complicated to develop. The challenge also arises in sharing the neural networks among different applications, as a common language is necessary for the same. Nevertheless, to address the challenges, Predictive Model Markup Language (PMML) has been proposed to address the same. PMML is an XML-based language providing a way for applications to define and share neural network models (and other data mining models) between PMML compliant applications.
Based on type, the market is segmented into Analytical Software, Optimization Software, Data Mining & Archiving, and Visualization Software. Optimization is further divided into Genetic Algorithm and Simulated Annealing. Based on Vertical, market is segmented into BFSI, Government & Defense, Government & Defense, Government & Defense, Industrial Manufacturing, Media, Retail & Ecommerce, Telecom & IT, Transportation & Logistics, and Others.Based on country, North America Neural Networks Software market is segmented into US, Canada, Mexico, and Rest of North America. US remained the dominant region in the North America Neural Networks Software market in 2015. Mexico and Canada would witness promising CAGR during the forecast period (2016-2022).
The report covers the analysis of key stake holders of the Neural Networks Software market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, HP Enterprise Company, Google Inc., Oracle Corporation, SAP SE, Qualcomm Incorporated and Intel Corporation.