Market Trends of Neural Network Software Industry
This section covers the major market trends shaping the Neural Network Software Market according to our research experts:
Healthcare Segment to Grow Significantly
- Healthcare organizations are leveraging artificial neural networks (ANN) to improve care delivery at a reduced cost. Applications of ANN to diagnosis are well-known; however, it is increasingly used to inform healthcare management decisions.
- Healthcare has a complex data environment. In lung segmentation, deep learning is used to segment a lung area from the rest of the anatomy so that it can be accurately refined. Whereas bone assessment is a challenging area for direct observation, deep learning is used to keep track of the maneuver, helping the physician actually to observe the bone and make decisions.
- IBM suggested that with increasing capture and digitization of healthcare data such as electronic medical records and DNA sequences, healthcare organizations are taking advantage of analyzing large sets of routinely collected digital information to improve service and reduce costs.
- Neural network software also helps improve the performance of the standard computer in dealing with such a vast amount of data. Intel teamed up with Philips to deliver high-performance, efficient deep-learning inference on x-rays and computed tomography (CT) scans without needing accelerators like GPU clusters. The global investment in AI is focused on the vertical industry (AI+), vision, big data, data service, and intelligent robotics.
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North America to Hold the Largest Market Share
- North America is the largest region for developing the Neural Networks market. Increasing infrastructure and Research and development have boosted the demand for Neural Networks software for problem recognition, forecasting, and formulation applications.
- The United States is the most technologically advanced country in this region, with an increasing market for industries, like BFSI, Defense, Healthcare, and Logistics, among others. The neural network software has shown disruptive performance in the BFSI sector in evaluating loan applications and predicting the stock market index.
- For instance, in the NASDAQ stock exchange rate prediction, it was discovered that a network with three hidden layers was the optimized network with an accuracy of 94.08% for the validation dataset.
- Additionally, the region continues to uphold its reputation as an early user of cutting-edge technologies with a focus on process optimization.. ADLINK Technology Inc. adopted Intel's OpenVino for guidance, identification, gauging, and inspection of manufacturing processes by integrating machine learning tools.
- Moreover, industries like Automotives and manufacturing in the region are heavily investing in adopting artificial intelligence for their process optimization, which increases the opportunity for the neural network software market.
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