Neural Network Software Market To Cross Usd 273.5 Billion By 2030 Due To Proliferation Of Iot Devices And Expansion Of Edge Computing

The SNS Insider report projects a substantial growth in the Neural Network Software Market, with a projected compound annual growth rate (CAGR) of 32.1% from 2023 to 2030. This growth is expected to take the market from its 2022 value of USD 29.5 billion to reach USD 273.5 billion by 2030. The growth is attributed to the widespread adoption of AI and ML, advancements in deep learning technologies, the proliferation of IoT devices, and the growth of edge computing. Neural network software is extensively used in image and video recognition tasks, enabling applications like facial recognition, object detection, and content categorization.