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.
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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.
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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:
- Large Enterprises
- Small and Medium-Sized Enterprises
Deployment Models Covered:
- Customer & Channel
- Finance and Risk
- Sales & Marketing
- Other Applications
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
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Content
1 Executive Summary
3 Market Trend Analysis
4 Porters Five Force Analysis
5 Global Predictive Analytics Market, By Type
6 Global Predictive Analytics Market, By Organisation Size
7 Global Predictive Analytics Market, By Deployment Model
8 Global Predictive Analytics Market, By Application
9 Global Predictive Analytics Market, By End User
10 Global Predictive Analytics Market, By Geography
11 Key Developments
12 Company Profiling
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