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New study: Global predictive analytics market will grow at a CAGR of 22.1% up to 2022

IT Market Research

Predictive Analytics Market by Type (Services, Solutions (Financial Analytics, Risk Analytics, Customer Analytics, Marketing Analytics, Sales Analytics, Web & Social Media Analytics)), Deployment, Organization, Industry Vertical - Global Forecast to 2022

The predictive analytics market size is expected to grow from USD 3.85 Billion in 2016 to USD 12.41 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 22.1%. The major growth drivers of the market include an increasing business interest toward advanced analytics for future estimations.

The base year considered for this report is 2016, and the market forecast period is 2017–2022.

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The report covers all the major aspects of the predictive analytics market and provides an in-depth analysis for the major countries across the regions of North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.

North America, owing to the early adoption of new and emerging technologies and the presence of major industry players, is expected to continue to dominate the market during the forecast period. The APAC region is expected to grow at the highest CAGR during the forecast period, owing to the growing adoption of cost-effective predictive analytics software and services among SMEs.

The issues related to data exchange and ownership of data are some of the major challenges faced by the predictive analytics users, which need to be enhanced to improve the growth of the predictive analytics market.

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