Increase in the adoption of predictive modeling tools, surge in investments for Big Data supporting initiatives by governments and rise in adoption of Big Data technologies are some of the major factors that are driving the global predictive analytics market growth. However, dearth of skilled IT staff and high implementation cost are anticipated to restrict the market growth. On the contrary, integration of IoT and AI in predictive analytics and rise in demand for predictive analytics by SMEs are anticipated to provide lucrative growth opportunities for the expansion of global predictive analytics market during the analysis period.
Based on connectivity technology, the Wi-Fi segment has dominated the U.S. predictive analytics market share in 2019 and is projected to maintain its dominance in the country. However, the 4G+ segment is expected to attain significant growth during the forecast period. According to industry vertical, the BFSI segment accounted for the highest share in predictive analytics market share in 2019, as regulatory framework has become more complex across the world. Moreover, predictive analytics in BFSI facilitates capital planning, financial analytics, credit risk management, and insurance risk management, which further fuel the growth of this segment.
The report focuses on the growth prospects, restraints, and trends of the U.S. predictive analytics market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers in the U.S. predictive analytics market.
The U.S. predictive analytics market analysis is segmented based on component, deployment, enterprise size, and industry vertical. In terms of component, it is bifurcated into solution, services, and connectivity technology. The connectivity technology segment is further bifurcated into wired, cellular technology (2G & 3G and 4G+), Wi-Fi, Bluetooth, and others. Based on deployment, the market is divided into on-premise and cloud. Based on enterprise size, it is classified into large enterprises and small & medium-sized enterprises. According to industry vertical, it is segmented into BFSI, retail, IT & telecom, healthcare, government, manufacturing, and others.
Top impacting factors
Rise in adoption of predictive modeling tools
Predictive modeling tools help in accelerating the methods of developing and analyzing predictive models that is used by organizations for conducting operations such as customer analytics, risk reporting, threat management, and product innovation. Therefore, the adoption of predictive modeling tools has amplified in recent years supplemented with interactive visualization and automation across several industrial sectors. Furthermore, the use of predictive modeling tools for social media advertising, e-mail campaigns, and cognitive analysis of customers has led to growth in sales and increase in customer retention. Thus, as several industries such as BFSI, retail & e-commerce, and manufacturing are adopting predictive modelling tools, which is expected to contribute toward the predictive analytics market growth.
Increased adoption of Big Data technologies
Increase in need to store, process, and analyze large volume of structured as well as unstructured datasets has driven many organizations and individuals to adopt advanced & big data analytics, which is likely to drive the growth of the market. Moreover, the volume of data captured by organization is continuously increasing due to rise in trend of Internet of Things (IoT), social media, and multimedia, which has produced a prodigious flow of data. Furthermore, due to massive amount of data generation in different industry verticals, investment in Big Data will increase, which, in turn, is expected to fuel the growth of the predictive analytics market.
Advent of modern technologies such as IoT and AI
IoT environment is proliferating the adoption of predictive analytics, as it facilitates predictive maintenance leading to enhanced energy efficiency and higher levels of production uptime. In addition, numerous industries are demanding a solution that can predict when their machines are going to get damaged. They are implementing sensors that can analyze the patterns and predict the outcome or any anomaly in the operation of machines. This as a result enables industries to reduce the downtime of the machine and increase the productivity. This benefit is expected to provide lucrative opportunities to the predictive analytics industry in upcoming years.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the U.S. predictive analytics market share along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- An extensive analysis of the key segments of the industry helps to understand the U.S. predictive analytics market trends.
- The quantitative analysis of the U.S. predictive analytics market from 2020 to 2027 is provided to determine the market potential.
- Customer Analytics
- Financial Analytics
- Risk Analytics
- Marketing & Sales Analytics
- Supply Chain Analytics
- Network Analytics
- Web & Social Media Analytics
- Connectivity Technology
- Large Enterprises
- Small & Medium-sized Enterprises
- IT & Telecom
1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools and Models
Chapter 2: Executive Summary
2.1. Cxo Perspective
Chapter 3: Market Landscape
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
3.3.1. Bargaining Power of Suppliers
3.3.2. Threat of New Entrants
3.3.3. Threat of Substitutes
3.3.4. Competitive Rivalry
3.3.5. Bargaining Power Among Buyers
3.4. Market Share Analysis/Top Player Positioning 2019
3.5. Market Dynamics
3.6. Impact Analysis of Covid-19
Chapter 4: Predictive Analytics Market, by Component
188.8.131.52. Customer Analytics
184.108.40.206. Financial Analytics
220.127.116.11. Risk Analytics
18.104.22.168. Marketing Analytics
22.214.171.124. Supply Chain Analytics
126.96.36.199. Network Analytics
188.8.131.52. Web & Social Media Analytics
184.108.40.206. Professional Services
220.127.116.11. Managed Services
4.1.3. Connectivity Technology
18.104.22.168. Cellular Technologies
Chapter 5: Predictive Analytics Market, by Deployment Model
Chapter 6: Predictive Analytics Market, by Enterprise Size
6.1.1. Large Enterprises
6.1.2. Small & Medium-Sized Enterprises
Chapter 7: Predictive Analytics Market, by Industry Vertical
7.1.3. It & Telecom
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.