The North America Neural Network Market would witness market growth of 25.5% CAGR during the forecast period (2024-2031).
The US market dominated the North America Neural Network Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $42,095.8 million by 2031. The Canada market is experiencing a CAGR of 28.1% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 27.1% during (2024 - 2031).
A neural network is a type of computational model inspired by the structure and functioning of the human brain. It constitutes a subset of artificial intelligence (AI) and machine learning (ML) that emulates the information-processing mechanisms of neurons in the brain, thereby facilitating the ability of machines to learn, adapt, and make informed decisions. Neural networks are particularly well-suited for tasks that involve pattern recognition, data analysis, and complex problem-solving. The market for neural networks is expanding at an unprecedented rate, fueled by advancements in hardware and software and the increasing demand for intelligent systems capable of handling large-scale data.
The unparalleled volume of data coming from many sources, including social media platforms, Internet of Things (IoT) devices, mobile applications, and corporate systems, is a major driver of the neural network market's growth. This data explosion has created a pressing need for sophisticated analytical tools to process, analyze, and derive actionable insights. Neural networks excel in this domain due to their ability to handle structured and unstructured data, such as images, speech, and text, making them indispensable across industries. Businesses leverage neural networks to optimize processes, enhance customer experiences, and gain a competitive edge in the digital economy.
In the United States, the neural network market benefits from its leadership in aerospace, a sector that achieved a trade balance of $77.6 billion in 2019 and $148 billion in exports, the second-highest among all manufacturing industries. The U.S. aerospace industry’s reliance on cutting-edge technologies, including AI-powered neural networks, underscores its influence in advancing neural network adoption. Applications such as predictive analytics, autonomous navigation, and intelligent resource allocation are reshaping the aerospace sector, positioning the U.S. as a critical player in the neural network market. Hence, the region will present lucrative opportunities for market growth.
Free Valuable Insights: The Neural Network Market is Predict to reach USD 160.37 Billion by 2031, at a CAGR of 26.1%
Based on Component, the market is segmented into Software (Analytical Software, Data Mining & Archiving, Optimization Software, Visualization Software, and Other Software Type), and Services. Based on Vertical, the market is segmented into BFSI, Retail, Healthcare, Telecom & IT, Manufacturing, Aerospace & Defense, Public Sector, Business Function, and Other Vertical. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Intel Corporation
- SAP SE
- NVIDIA Corporation
- nDimensional, Inc.
- OLSOFT LLC
- Oracle Corporation
- Microsoft Corporation
- Ward Systems Group, Inc.
- IBM Corporation
- Google LLC (Alphabet Inc.)
North America Neural Network Market Report Segmentation
By Component
- Software
- Analytical Software
- Data Mining & Archiving
- Optimization Software
- Visualization Software
- Other Software Type
- Services
By Vertical
- BFSI
- Retail
- Healthcare
- Telecom & IT
- Manufacturing
- Aerospace & Defense
- Public Sector
- Business Function
- Other Vertical
By Country
- US
- Canada
- Mexico
- Rest of North America
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Neural Network Market, by Component
1.4.2 North America Neural Network Market, by Vertical
1.4.3 North America Neural Network Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis – Global
4.1 Market Share Analysis, 2023
4.2 Recent Strategies Deployed in Neural Network Market
4.3 Porter Five Forces Analysis
Chapter 5. North America Neural Network Market by Component
5.1 North America Software Market by Region
5.2 North America Neural Network Market by Software Type
5.2.1 North America Analytical Software Market by Country
5.2.2 North America Data Mining & Archiving Market by Country
5.2.3 North America Optimization Software Market by Country
5.2.4 North America Visualization Software Market by Country
5.2.5 North America Other Software Type Market by Country
5.3 North America Services Market by Region
Chapter 6. North America Neural Network Market by Vertical
6.1 North America BFSI Market by Country
6.2 North America Retail Market by Country
6.3 North America Healthcare Market by Country
6.4 North America Telecom & IT Market by Country
6.5 North America Manufacturing Market by Country
6.6 North America Aerospace & Defense Market by Country
6.7 North America Public Sector Market by Country
6.8 North America Business Function Market by Country
6.9 North America Other Vertical Market by Country
Chapter 7. North America Neural Network Market by Country
7.1 US Neural Network Market
7.1.1 US Neural Network Market by Component
7.1.1.1 US Neural Network Market by Software Type
7.1.2 US Neural Network Market by Vertical
7.2 Canada Neural Network Market
7.2.1 Canada Neural Network Market by Component
7.2.1.1 Canada Neural Network Market by Software Type
7.2.2 Canada Neural Network Market by Vertical
7.3 Mexico Neural Network Market
7.3.1 Mexico Neural Network Market by Component
7.3.1.1 Mexico Neural Network Market by Software Type
7.3.2 Mexico Neural Network Market by Vertical
7.4 Rest of North America Neural Network Market
7.4.1 Rest of North America Neural Network Market by Component
7.4.1.1 Rest of North America Neural Network Market by Software Type
7.4.2 Rest of North America Neural Network Market by Vertical
Chapter 8. Company Profiles
8.1 Intel Corporation
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Product Launches and Product Expansions:
8.1.6 SWOT Analysis
8.2 SAP SE
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Regional Analysis
8.2.4 Research & Development Expense
8.2.5 Recent strategies and developments:
8.2.5.1 Product Launches and Product Expansions:
8.2.6 SWOT Analysis
8.3 NVIDIA Corporation
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expenses
8.3.5 Recent strategies and developments:
8.3.5.1 Product Launches and Product Expansions:
8.3.6 SWOT Analysis
8.4 nDimensional, Inc.
8.4.1 Company Overview
8.4.2 SWOT Analysis
8.5 OLSOFT LLC
8.5.1 Company Overview
8.5.2 SWOT Analysis
8.6 Oracle Corporation
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.6.5 SWOT Analysis
8.7 Microsoft Corporation
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expenses
8.7.5 SWOT Analysis
8.8 Ward Systems Group, Inc.
8.8.1 Company Overview
8.8.2 SWOT Analysis
8.9 IBM Corporation
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Regional & Segmental Analysis
8.9.4 Research & Development Expenses
8.9.5 Recent strategies and developments:
8.9.5.1 Partnerships, Collaborations, and Agreements:
8.9.5.2 Product Launches and Product Expansions:
8.9.6 SWOT Analysis
8.10. Google LLC (Alphabet Inc.)
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expense
8.10.5 SWOT Analysis
TABLE 1 North America Neural Network Market, 2020 - 2023, USD Million
TABLE 2 North America Neural Network Market, 2024 - 2031, USD Million
TABLE 3 North America Neural Network Market by Component, 2020 - 2023, USD Million
TABLE 4 North America Neural Network Market by Component, 2024 - 2031, USD Million
TABLE 5 North America Software Market by Region, 2020 - 2023, USD Million
TABLE 6 North America Software Market by Region, 2024 - 2031, USD Million
TABLE 7 North America Neural Network Market by Software Type, 2020 - 2023, USD Million
TABLE 8 North America Neural Network Market by Software Type, 2024 - 2031, USD Million
TABLE 9 North America Analytical Software Market by Country, 2020 - 2023, USD Million
TABLE 10 North America Analytical Software Market by Country, 2024 - 2031, USD Million
TABLE 11 North America Data Mining & Archiving Market by Country, 2020 - 2023, USD Million
TABLE 12 North America Data Mining & Archiving Market by Country, 2024 - 2031, USD Million
TABLE 13 North America Optimization Software Market by Country, 2020 - 2023, USD Million
TABLE 14 North America Optimization Software Market by Country, 2024 - 2031, USD Million
TABLE 15 North America Visualization Software Market by Country, 2020 - 2023, USD Million
TABLE 16 North America Visualization Software Market by Country, 2024 - 2031, USD Million
TABLE 17 North America Other Software Type Market by Country, 2020 - 2023, USD Million
TABLE 18 North America Other Software Type Market by Country, 2024 - 2031, USD Million
TABLE 19 North America Services Market by Region, 2020 - 2023, USD Million
TABLE 20 North America Services Market by Region, 2024 - 2031, USD Million
TABLE 21 North America Neural Network Market by Vertical, 2020 - 2023, USD Million
TABLE 22 North America Neural Network Market by Vertical, 2024 - 2031, USD Million
TABLE 23 North America BFSI Market by Country, 2020 - 2023, USD Million
TABLE 24 North America BFSI Market by Country, 2024 - 2031, USD Million
TABLE 25 North America Retail Market by Country, 2020 - 2023, USD Million
TABLE 26 North America Retail Market by Country, 2024 - 2031, USD Million
TABLE 27 North America Healthcare Market by Country, 2020 - 2023, USD Million
TABLE 28 North America Healthcare Market by Country, 2024 - 2031, USD Million
TABLE 29 North America Telecom & IT Market by Country, 2020 - 2023, USD Million
TABLE 30 North America Telecom & IT Market by Country, 2024 - 2031, USD Million
TABLE 31 North America Manufacturing Market by Country, 2020 - 2023, USD Million
TABLE 32 North America Manufacturing Market by Country, 2024 - 2031, USD Million
TABLE 33 North America Aerospace & Defense Market by Country, 2020 - 2023, USD Million
TABLE 34 North America Aerospace & Defense Market by Country, 2024 - 2031, USD Million
TABLE 35 North America Public Sector Market by Country, 2020 - 2023, USD Million
TABLE 36 North America Public Sector Market by Country, 2024 - 2031, USD Million
TABLE 37 North America Business Function Market by Country, 2020 - 2023, USD Million
TABLE 38 North America Business Function Market by Country, 2024 - 2031, USD Million
TABLE 39 North America Other Vertical Market by Country, 2020 - 2023, USD Million
TABLE 40 North America Other Vertical Market by Country, 2024 - 2031, USD Million
TABLE 41 North America Neural Network Market by Country, 2020 - 2023, USD Million
TABLE 42 North America Neural Network Market by Country, 2024 - 2031, USD Million
TABLE 43 US Neural Network Market, 2020 - 2023, USD Million
TABLE 44 US Neural Network Market, 2024 - 2031, USD Million
TABLE 45 US Neural Network Market by Component, 2020 - 2023, USD Million
TABLE 46 US Neural Network Market by Component, 2024 - 2031, USD Million
TABLE 47 US Neural Network Market by Software Type, 2020 - 2023, USD Million
TABLE 48 US Neural Network Market by Software Type, 2024 - 2031, USD Million
TABLE 49 US Neural Network Market by Vertical, 2020 - 2023, USD Million
TABLE 50 US Neural Network Market by Vertical, 2024 - 2031, USD Million
TABLE 51 Canada Neural Network Market, 2020 - 2023, USD Million
TABLE 52 Canada Neural Network Market, 2024 - 2031, USD Million
TABLE 53 Canada Neural Network Market by Component, 2020 - 2023, USD Million
TABLE 54 Canada Neural Network Market by Component, 2024 - 2031, USD Million
TABLE 55 Canada Neural Network Market by Software Type, 2020 - 2023, USD Million
TABLE 56 Canada Neural Network Market by Software Type, 2024 - 2031, USD Million
TABLE 57 Canada Neural Network Market by Vertical, 2020 - 2023, USD Million
TABLE 58 Canada Neural Network Market by Vertical, 2024 - 2031, USD Million
TABLE 59 Mexico Neural Network Market, 2020 - 2023, USD Million
TABLE 60 Mexico Neural Network Market, 2024 - 2031, USD Million
TABLE 61 Mexico Neural Network Market by Component, 2020 - 2023, USD Million
TABLE 62 Mexico Neural Network Market by Component, 2024 - 2031, USD Million
TABLE 63 Mexico Neural Network Market by Software Type, 2020 - 2023, USD Million
TABLE 64 Mexico Neural Network Market by Software Type, 2024 - 2031, USD Million
TABLE 65 Mexico Neural Network Market by Vertical, 2020 - 2023, USD Million
TABLE 66 Mexico Neural Network Market by Vertical, 2024 - 2031, USD Million
TABLE 67 Rest of North America Neural Network Market, 2020 - 2023, USD Million
TABLE 68 Rest of North America Neural Network Market, 2024 - 2031, USD Million
TABLE 69 Rest of North America Neural Network Market by Component, 2020 - 2023, USD Million
TABLE 70 Rest of North America Neural Network Market by Component, 2024 - 2031, USD Million
TABLE 71 Rest of North America Neural Network Market by Software Type, 2020 - 2023, USD Million
TABLE 72 Rest of North America Neural Network Market by Software Type, 2024 - 2031, USD Million
TABLE 73 Rest of North America Neural Network Market by Vertical, 2020 - 2023, USD Million
TABLE 74 Rest of North America Neural Network Market by Vertical, 2024 - 2031, USD Million
TABLE 75 Key Information – Intel Corporation
TABLE 76 Key Information – SAP SE
TABLE 77 Key Information – NVIDIA Corporation
TABLE 78 Key Information – nDimensional, Inc.
TABLE 79 Key Information – OLSOFT LLC
TABLE 80 Key Information – Oracle Corporation
TABLE 81 Key Information – Microsoft Corporation
TABLE 82 Key Information – Ward Systems Group, Inc.
TABLE 83 Key Information – IBM Corporation
TABLE 84 Key Information – Google LLC
List of Figures
FIG 1 Methodology for the research
FIG 2 North America Neural Network Market, 2020 - 2031, USD Million
FIG 3 Key Factors Impacting Neural Network Market
FIG 4 Market Share Analysis, 2023
FIG 5 Porter’s Five Forces Analysis – Neural Network Market
FIG 6 North America Neural Network Market share by Component, 2023
FIG 7 North America Neural Network Market share by Component, 2031
FIG 8 North America Neural Network Market by Component, 2020 - 2031, USD Million
FIG 9 North America Neural Network Market share by Vertical, 2023
FIG 10 North America Neural Network Market share by Vertical, 2031
FIG 11 North America Neural Network Market by Vertical, 2020 - 2031, USD Million
FIG 12 North America Neural Network Market share by Country, 2023
FIG 13 North America Neural Network Market share by Country, 2031
FIG 14 North America Neural Network Market by Country, 2020 - 2031, USD Million
FIG 15 SWOT Analysis: Intel corporation
FIG 16 SWOT Analysis: SAP SE
FIG 17 SWOT Analysis: NVIDIA Corporation
FIG 18 SWOT analysis: nDimensional, Inc.
FIG 19 SWOT analysis: OLSOFT LLC
FIG 20 SWOT Analysis: Oracle Corporation
FIG 21 SWOT Analysis: Microsoft Corporation
FIG 22 SWOT analysis: Ward Systems Group, Inc.
FIG 23 Recent strategies and developments: IBM Corporation
FIG 24 SWOT Analysis: IBM Corporation
FIG 25 SWOT Analysis: Google LLC
