Latest News- Artificial Neural Network Market: Cloud is expected to lead the Deployment segment during 2025-2029

The Artificial Neural Network Market is being driven by Explosion in data volume and sophistication of data infrastructure

The Artificial Neural Network Market is expected to grow at a CAGR of 18.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 413.9 million. The global artificial neural network market is experiencing a significant shift towards multimodal AI systems, which represent a major advancement from earlier unimodal models. Multimodal AI systems, such as GPT-4 released in March 2023, are natively designed to process and generate content across various data formats, including text, images, audio, and video. This integrated approach offers a more contextually rich and nuanced understanding of information, closely resembling human cognition. The ability to concurrently process multiple modalities enables more accurate and comprehensive analysis, making multimodal AI a game-changer in various industries. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • Cloud
  • On premises
• Component
  • Solutions
  • Services
• Application
  • Image recognition
  • Signal recognition
  • Data mining
  • Others
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Explosion in data volume and sophistication of data infrastructure
• Innovation in neural network architectures and generative AI revolution
• Democratization and escalation of high-performance computing power

However, the market also witnesses some limitations, which are as follows:

• Prohibitive computational costs and escalating energy consumption
• Data Privacy, security, and emerging ethical and regulatory headwinds
• Inherent model complexity, interpretability issues, and severe talent scarcity

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Market Scope in Artificial Neural Network Market Research Report

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Research Analysis Overview

The Artificial Neural Network (ANN) market encompasses various components, including hidden layer configuration, input feature engineering, output layer design, network complexity analysis, training dataset preparation, validation dataset splitting, and testing dataset evaluation. Other essential elements are overfitting mitigation, underfitting prevention, bias-variance tradeoff, model interpretability tools, explainable AI methods, dimensionality reduction, feature scaling methods, data preprocessing steps, anomaly detection systems, outlier removal techniques, supervised learning models, unsupervised learning models, reinforcement learning models, time series forecasting, image recognition systems, natural language processing, pattern recognition engines, deep learning libraries, TensorFlow implementation, and PyTorch framework. These components play crucial roles in designing, developing, and implementing effective ANNs for diverse applications.

Market Research Overview

The Artificial Neural Network (ANN) market is a segment of the larger Global Technology Hardware, Storage, and Peripherals Market, according to Technavio's market research. This market encompasses manufacturers of various technology hardware, including cellular phones, personal computers, servers, and peripherals. Key components of this market include data storage devices, motherboards, graphics cards, monitors, keyboards, printers, and other peripherals. Technavio estimates the market size based on the revenue generated from sales of these hardware devices, equipment, and components. The Global Technology Hardware, Storage, and Peripherals Market growth is influenced by the increasing volume, velocity, veracity, and variety (4Vs) of data. This data growth primarily fuels the demand for advanced data storage solutions, particularly in the context of expanding data centers. Backpropagation algorithms, Convolutional Neural Networks (CNNs), and Recurrent Neural Networks (RNNs) are deep learning frameworks that enable advanced data processing and analysis, further driving market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/