Global Predictive Analytics Market Size, Trends & Growth Opportunity, By Component (Solution, Services), By Enterprise Size (Large Enterprises, Small & Medium Enterprises (SMEs)), By Deployment Mode (Cloud, On-premises), by Vertical (BFSI, Manufacturing, Retail and e-commerce, Government and Defense, Healthcare and Life Sciences, Energy and Utilities, Telecommunications and IT, Transportation and Logistics, Media and Entertainment, Travel and Hospitality, Other Verticals) By Region and Forecast till 2027.
Global Predictive Analytics Market
The global Predictive Analytics market was valued at USD 10500 million in 2020 which expected to reach USD 28100 million by 2027 at a CAGR 21.7% from 2020-2027.
Predictive analytics is the activity of extracting information from current and historical datasets using statistics and modeling approaches in order to forecast likely future outcomes and trends. The industry is growing as companies become more aware of the vast amount of data created and how to use predictive analysis solutions to predict future outcomes.
Big data and other related technologies are becoming more widely used.
Advanced technologies, such as cloud, IoT, big data and analytics, mobility, and social media, have sparked innovation and transformation in the business environment, resulting in increased revenue. The historical approach to company has been turned into a modern one thanks to digital technologies. According to a blog post published in June 2020 by Usabilla (Netherlands), the top 100 companies are 50 percent more likely to address consumer empowerment as a critical metric for corporate growth. According to the blog, 92 % have used advanced digital transformation tactics to improve their consumers' experience.
Changing regional data rules need a lengthy reorganization of predictive models due to predictive analytics gives decision-makers with a clear data interpretation and a bigger picture in order to improve overall business performance. Depending on the amount and nature of the investigation, modifying predictive models allows for integration with both software and services. Professional services are required to customize existing analytics systems that are tailored to specific data sets. Because the concept of predictive analytics is still in its infancy, skilled labor is in short supply. Another key stumbling block to market expansion is this.
Most businesses are dealing with a growing list of business-critical concerns related to the coronavirus outbreak, including supply chain problems, the possibility of a recession, and a decline in consumer spending. All of these situations will play out differently in different locations and industries, necessitating more complete and reliable market research than ever before.
The Global Predictive Analytics Market is segmented into Component, Enterprise Size, Deployment Mode and Vertical. By Component such as Solution, Services. Further, market is segmented into By Enterprise Size such as Large Enterprises, Small & Medium Enterprises (SMEs). By Deployment Mode such as Cloud, On-premises. By Vertical such as BFSI, Manufacturing, Retail and eCommerce, Government and Defense, Healthcare and Life Sciences, Energy and Utilities, Telecommunications and IT, Transportation and Logistics, Media and Entertainment, Travel and Hospitality, Other Verticals
Global Predictive Analytics Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America has the largest market share and is expected to dominate the market during the forecast period North America is predicted to have the highest adoption of predictive analytics solutions. This is owing to the presence of several developed economies, such as Canada and the United States, as well as the concentration on R&D and diverse technology. The largest market for predictive analytics solutions is in North America, which is a hotbed of large-scale data creation.
Various key players are listed in this report such as Alteryx, Inc., Fair Isaac Corporation, Information Builders, International Business Machines Corporation, KNIME, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., and TIBCO Software Inc.
The global Predictive Analytics market was valued at USD 10500 million in 2020 which expected to reach USD 28100 million by 2027 at a CAGR 21.7% from 2020-2027.
Predictive analytics is the activity of extracting information from current and historical datasets using statistics and modeling approaches in order to forecast likely future outcomes and trends. The industry is growing as companies become more aware of the vast amount of data created and how to use predictive analysis solutions to predict future outcomes.
Market Drivers
Big data and other related technologies are becoming more widely used.
Advanced technologies, such as cloud, IoT, big data and analytics, mobility, and social media, have sparked innovation and transformation in the business environment, resulting in increased revenue. The historical approach to company has been turned into a modern one thanks to digital technologies. According to a blog post published in June 2020 by Usabilla (Netherlands), the top 100 companies are 50 percent more likely to address consumer empowerment as a critical metric for corporate growth. According to the blog, 92 % have used advanced digital transformation tactics to improve their consumers' experience.
Market Restraints
Changing regional data rules need a lengthy reorganization of predictive models due to predictive analytics gives decision-makers with a clear data interpretation and a bigger picture in order to improve overall business performance. Depending on the amount and nature of the investigation, modifying predictive models allows for integration with both software and services. Professional services are required to customize existing analytics systems that are tailored to specific data sets. Because the concept of predictive analytics is still in its infancy, skilled labor is in short supply. Another key stumbling block to market expansion is this.
Impact of COVID-19
Most businesses are dealing with a growing list of business-critical concerns related to the coronavirus outbreak, including supply chain problems, the possibility of a recession, and a decline in consumer spending. All of these situations will play out differently in different locations and industries, necessitating more complete and reliable market research than ever before.
Market Segmentation
The Global Predictive Analytics Market is segmented into Component, Enterprise Size, Deployment Mode and Vertical. By Component such as Solution, Services. Further, market is segmented into By Enterprise Size such as Large Enterprises, Small & Medium Enterprises (SMEs). By Deployment Mode such as Cloud, On-premises. By Vertical such as BFSI, Manufacturing, Retail and eCommerce, Government and Defense, Healthcare and Life Sciences, Energy and Utilities, Telecommunications and IT, Transportation and Logistics, Media and Entertainment, Travel and Hospitality, Other Verticals
Regional Analysis
Global Predictive Analytics Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America has the largest market share and is expected to dominate the market during the forecast period North America is predicted to have the highest adoption of predictive analytics solutions. This is owing to the presence of several developed economies, such as Canada and the United States, as well as the concentration on R&D and diverse technology. The largest market for predictive analytics solutions is in North America, which is a hotbed of large-scale data creation.
Key Players
Various key players are listed in this report such as Alteryx, Inc., Fair Isaac Corporation, Information Builders, International Business Machines Corporation, KNIME, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., and TIBCO Software Inc.
Market Taxonomy
By Component
- Solution
- Services
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Deployment Mode
- Cloud
- On-premises
By Vertical
- BFSI
- Manufacturing
- Retail and eCommerce
- Government and Defense
- Healthcare and Life Sciences
- Energy and Utilities
- Telecommunications and IT
- Transportation and Logistics
- Media and Entertainment
- Travel and Hospitality
- Other Verticals
By Region
- North America
- Latin America
- Europe
- China
- Asia Pacific
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Global Predictive Analytics Market?
- What will be the growth rate from 2020 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
Frequently Asked Questions about the Global Predictive Analytics Market
What is the estimated value of the Global Predictive Analytics Market?
What is the growth rate of the Global Predictive Analytics Market?
What is the forecasted size of the Global Predictive Analytics Market?
Who are the key companies in the Global Predictive Analytics Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 185 |
| Published | October 2021 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 10500 million |
| Forecasted Market Value ( USD | $ 28100 million |
| Compound Annual Growth Rate | 15.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
Table of Contents
1 Introduction
2 Research Methodology
4 Global Predictive Analytics Market Outlook
5 Global Predictive Analytics Market, By Component
6 Global Predictive Analytics Market, By Enterprise Size
7 Global Predictive Analytics Market, By Deployment Mode
8 Global Predictive Analytics Market, By Vertical
9 Global Predictive Analytics Market, By Region
10 North America Predictive Analytics Market Analysis and Forecast (2021-2027)
11 Europe Predictive Analytics Market Analysis and Forecast (2021-2027)
12 Asia Pacific Predictive Analytics Market Analysis and Forecast (2021-2027)
13 Latin America Predictive Analytics Market Analysis and Forecast (2021-2027)
14 Middle East Predictive Analytics Market Analysis and Forecast (2021-2027)
15. Competitive Analysis
16 Company Profiles
Companies Mentioned
- Alteryx Inc.
- Fair Isaac Corporation
- Information Builders
- International Business Machines Corporation
- KNIME
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- SAS Institute Inc.
- TIBCO Software Inc.
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