Global Predictive Analytics Market, By Component (Solutions, Services), Deployment Model (0n-Premises, Cloud), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), End User (Banking, Financial Services, and Insurance, Telecommunications And IT, Retail and e-Commerce, Healthcare and Life Sciences, Manufacturing, Government And Defense, Energy And Utilities, Transportation and Logistics, Others) Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Predictive Analytics Market
Predictive analytics market size is valued at USD 40.51 billion by 2028 and is expected to grow at a compound annual growth rate of 23.52% in the forecast period of 2021 to 2028. Data Bridge Market Research report on predictive analytics provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Predictive analytics includes various techniques from machine learning, data mining and predictive modeling to guesstimate and predict the future opportunities, current market trends, and market risks.
The various cost benefits of cloud-based predictive analytics solutions have been directly influencing the growth of predictive analytics market over the forecast period of 2021 to 2028. Also the introduction of machine learning and artificial intelligence as well as the high adoption of big data and other related technologies are also flourishing the growth of the predictive analytics market. The growing awareness among organizations regarding generated data is also positively impacting the growth of the market. Further, the rising usage of internet, associated with the accessibility of several means of accessing the internet is also acting as an active growth driver towards the growth of the predictive analytics market. Moreover, the increasing penetration of incorporated and connected technologies that has provided a platform to purveyor of predictive analytics solutions for leveraging this exceptional evolution of the internet which is creating a huge demand for predictive analytics as well as lifting the growth of the predictive analytics market.
However, the changing regional data regulations leading to the time-consuming streamlining of predictive models as well as the ownership and privacy of collected data are acting as the major restrictions for the growth of predictive analytics in the above mentioned forecasted period, whereas the increasing demand for diversified data models based on business needs can challenge the predictive analytics market growth in the forecast period of 2021 to 2028.
Likewise, the growing internet proliferation and rising usage of connected and integrated technologies along with rising demand for real-time streaming analytics solutions to track and supervise the COVID-19 spread will further cater ample new opportunities that will lead to the growth of the predictive analytics market in the above mentioned forecasted period.
This predictive analytics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on predictive analytics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Predictive Analytics Market Scope and Market Size
Predictive analytics market is segmented on the basis of component, deployment model, organization size and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- The component segment of the predictive analytics market is segmented into solutions and services. Solutions have further been segmented into financial analytics, risk analytics, marketing analytics, sales analytics, customer analytics, web and social media analytics, supply chain analytics, network analytics and others. Financial analytics have further been sub-segmented into fraud detection, profitability management, governance, risk, and compliance management and others. Risk analytics have further been sub-segmented into cyber risk management, operational risk management, credit and market risk management and others. Marketing analytics have further been sub-segmented into predictive modeling, yield management, product and service development strategies and others. Sales analytics have further been sub-segmented into sales life cycle management, sales rep efficiency management and others. Customer analytics have further been sub-segmented into customer segmentation and clustering, customer behavior analysis, monitoring customer loyalty and satisfaction and others. Web and social media analytics have further been sub-segmented into social media management, search engine optimization, performance monitoring and competitor benchmarking. Supply chain analytics have further been sub-segmented into distribution and logistics optimization, inventory management, manufacturing analysis and others. Network analytics have further been sub-segmented into intelligent network optimization, traffic management and others. Services have further been segmented into managed services and professional services. Professional services have further been sub-segmented into consulting, integration and deployment.
- On the basis of deployment model, the predictive analytics market is segmented into on-premises and cloud.
- Predictive analytics market is segmented on the basis of organization size into small and medium-sized enterprises and large enterprises.
- On the basis of end user, the predictive analytics market is segmented into banking, financial services, and insurance, telecommunications and IT, retail and e-commerce, healthcare and life sciences, manufacturing, government and defense, energy and utilities, transportation and logistics and others.
Predictive Analytics Market Country Level Analysis
Predictive analytics market is analyzed and market size, volume information is provided by country, component, deployment model, organization size and end user as referenced above.
The countries covered in the predictive analytics market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
North America leads the predictive analytics market due to the growing awareness about predictive analytics measures and its importance as well as the rapid technological advancements and a strong presence of market players in the region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the rising deployment and high adoption of advanced predictive analytics solutions within this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Predictive Analytics Market Share Analysis
Predictive analytics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to predictive analytics market.
The major players covered in the predictive analytics market report are Microsoft, Oracle, SAP SE, SAS Institute Inc., Google, Salesforce, Amazon Web Services, Inc., Hewlett Packard Enterprise Development LP, Teradata, ALTERYX, INC., FICO, Altair Engineering, Inc., Domo, Inc., Cloudera, Inc., Board International, TIBCO Software Inc., Hitachi Vantara LLC, Happiest Minds, Dataiku and QlikTech International AB, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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