The Global Predictive Analytics market is expected to grow from $3.89 billion in 2016 to reach $14.95 billion by 2023 with a CAGR of 21.2%.
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Growing adoption of big data and other related technologies, emergence of e-commerce and the growing data traffic are some of the key factors influencing the market growth.
In addition, emergence of machine learning and artificial intelligence provides ample of opportunities for the market growth. However, time-consuming process of analysis, lack of awareness and unqualified professionals may restrain market growth.
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Predictive analytics is the branch of the highly developed analytics which is used to make predictions about unknown future events. Predictive analytics uses many techniques from data mining, statistics, modelling, machine learning, and artificial intelligence to analyze current data to make predictions about future.
The objective is to go beyond and know what has happened to provide a best estimation of what will happen in the future. This use of analytics will be helpful to avoid predicted problems, such as equipment failure or depleted stock, or to capitalize on opportunities to market products to customers, like targeting people in happy or dejecting moods after a sporting event.
Due to its cost-effectiveness and easy worldwide accessibility cloud-based deployment model registered significant growth. Moreover, due to innovations in cloud technologies and increase in data generation from various constituents and customers, the cloud-based deployment model is gaining traction.
North America held the largest market share and is anticipated to continue its dominance during the forecast period. This is mainly because of the presence of various developed economies, such as Canada and the US, and focus over innovating the existing solutions.
Furthermore, early acceptance of technologies and high penetration in various industry verticals, such as manufacturing, healthcare, transportation, and logistics, are driving the growth of the market in this region.
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Some of the key players in global Predictive Analytics market include SAP SE, Oracle Corporation, Tibco Software, Inc., Tableau Software, Inc., SAS Institute, Inc., Microsoft Corporation, International Business Machines (IBM) Corporation, Fair Isaac Corporation (FICO), NTT Data Corporation, Rapidminer, Inc., Angoss Software Corporation, TIMi Suite, Predixion, Statsoft and GraphLab Create.
Organisation Sizes Covered:
Small and Medium-Sized Enterprises
Deployment Models Covered:
Customer & Channel
Finance and Risk
Sales & Marketing
End Users Covered:
Transportation and Logistics
Retail and Ecommerce
Banking, Financial Services, and Insurance
Healthcare and Life Sciences
Government and Defense
Energy and Utilities
Telecommunications and IT
Media and Entertainment
Engineering & Construction
Other End Users
Rest of Europe
Rest of Asia Pacific
Rest of South America
Middle East & Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
List Of Tables:
Table 1 Global Predictive Analytics Market Outlook, By Region
Table 2 Global Predictive Analytics Market Outlook, By Type
Table 3 Global Predictive Analytics Market Outlook, By Services
Table 4 Global Predictive Analytics Market Outlook, By Professional Services
Table 5 Global Predictive Analytics Market Outlook, By Managed Services
Table 6 Global Predictive Analytics Market Outlook, By Solutions
Table 7 Global Predictive Analytics Market Outlook, By Risk Analytics
Table 8 Global Predictive Analytics Market Outlook, By Sales Analytics
Table 9 Global Predictive Analytics Market Outlook, By Web and Social Media Analytics
Table 10 Global Predictive Analytics Market Outlook, By Network Analytics
Table 11 Global Predictive Analytics Market Outlook, By Financial Analytics
Table 12 Global Predictive Analytics Market Outlook, By Marketing Analytics
Table 13 Global Predictive Analytics Market Outlook, By Supply Chain Analytics
Table 14 Global Predictive Analytics Market Outlook, By Customer Analytics
Table 15 Global Predictive Analytics Market Outlook, By Other Solutions
Table 16 Global Predictive Analytics Market Outlook, By Organisation Size
Table 17 Global Predictive Analytics Market Outlook, By Large Enterprises
Table 18 Global Predictive Analytics Market Outlook, By Small and Medium-Sized Enterprises
Table 19 Global Predictive Analytics Market Outlook, By Deployment Model
Table 20 Global Predictive Analytics Market Outlook, By Cloud
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