BANGALORE, India, Oct. 28, 2020 /PRNewswire/ -- Predictive Analytics Market by Component (Solution and Services), Deployment (On-premise and Cloud), Enterprise Size (Large Enterprises and Small & Medium-sized Enterprises), and Industry Vertical (BFSI, Retail, IT & Telecom, Healthcare, Government, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027 - Published on Valuates Reports in Data Management Category.
The Global Predictive Analytics Market size was valued at USD 7.32 Billion in 2019 and is projected to reach USD 35.45 Billion by 2027, growing at a CAGR of 21.9% from 2020 to 2027.
Major factors driving the growth of predictive analytics market size are the increase in the adoption of predictive modeling software, an increase in spending by governments in support of Big Data initiatives, and the increase in Big Data technology adoption.
This report entails a detailed quantitative analysis and the current global Predictive Analytics Market market trends from 2019 to 2027 to identify the prevailing opportunities and the strategic assessment.
The Final Report will cover the impact analysis of COVID-19 on this industry
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COVID-19 IMPACT ON PREDICTIVE ANALYTICS MARKET
Demand and supply processes were interrupted by the covid-19 pandemic situation. Manufacturers need real-time visibility into demand and inventory status to make informed decisions in order to be at the top of demand during the covid-19. Predictive analytics has made it possible for manufacturers to decide how many goods they can produce, and it has also helped to decide what production line priority should be, based on demand patterns to ensure that production is never stopped.
Due to such advantages, the predictive analytics market size is expected to grow during the COVID-19 period.
TRENDS INFLUENCING THE PREDICTIVE ANALYTICS MARKET SIZE
The growth of the Predictive Analytics Market size is driven by increased awareness among organizations of the vast volume of data produced to predict future results through the use of predictive analytics solutions.
Increased internet use, combined with the availability of numerous internet access sources, has contributed to an increase in data generation. Thus, using this knowledge to make correct business plans and decisions helps in optimizing the revenue. Predictive analytics helps utilize the information from current and historical datasets to predict potential future outcomes by using statistics and modeling techniques. This feature is, in turn, expected to increase the growth of predictive analytics market size.
Furthermore, the incorporation of IoT and AI into predictive analytics and the increase in demand for predictive analytics by SMEs are expected to fuel the growth of predictive analytics market size during the forecast period.
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PREDICTIVE ANALYTICS MARKET SHARE ANALYSIS
The global predictive analytics solution segment is expected to hold the largest predictive analytics market share based on components during the forecast period. This dominance is attributed to the benefit offered. Predictive analytics solutions offer advantages such as business-critical insights into what could happen in the future, consumer behavior insights, and fraud prevention.
Based on type, the customer analytics segment is expected to hold the largest predictive analytics market share due to the need to analyze large amounts of customer data across multiple sources such as touchpoints and e-commerce sites.
Based on the region, North America is expected to hold the largest predictive analytics market share. This dominance of North America is attributed to technological innovations and a strong presence of established market players. In addition, funding given to potential entrants by venture capitalists is expected to alleviate market competition.
Asia Pacific is predicted to experience the highest CAGR during the forecast period. Growing implementation and acceptance of advanced predictive analytics solutions can be due to the regional market's fast growth.
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Key Benefits for Stakeholders:
- This study includes the analytical depiction of the global predictive analytics market forecast and trends to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and predictive analytics market opportunity.
- The current market size is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the predictive analytics industry.
- Porter's five forces analysis illustrates the potency of buyers & suppliers in the predictive analytics market.
Key Market Segments:
- Customer Analytics
- Financial Analytics
- Risk Analytics
- Marketing & Sales Analytics
- Supply Chain Analytics
- Network Analytics
- Web & Social Media Analytics
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Industry Vertical
- IT & Telecom
Key Market Players
- Alteryx, Inc.
- Fair Isaac Corporation
- Information Builders
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- SAS Institute Inc.
- TIBCO Software Inc.
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SIMILAR REPORTS :
● Prescriptive Analytics Market
The global Prescriptive Analytics market size is projected to reach USD 1188.6 Million by 2026, from USD 1043.4 Million in 2020.
This report focuses on the global Prescriptive Analytics status, future forecast, growth opportunity, key market, and key players. The study objectives are to present the Prescriptive Analytics development in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
● Predictive Analytics in Healthcare Market
The global predictive analytics in healthcare market was valued at USD 1,806 Million in 2017 and is estimated to reach USD 8,464 Million by 2025 at a CAGR of 21.2% from 2018 to 2025.
● Financial Predictive Analytics Software Market
● Predictive Sales Analytics Tools Market
● Predictive Analytics Software Market
● Transportation Predictive Analytics Market
The global Transportation Predictive Analytics market size is projected to reach USD 1039.4 Million by 2026, from USD 915.9 Million in 2020.
● Prescriptive and Predictive Analytics Market
The global Prescriptive and Predictive Analytics market size is projected to reach USD 12930 Million by 2026, from USD 6870.1 Million in 2020, at a CAGR of 11.1% during 2021-2026.
● Supply Chain Analytics Market
The Global Supply Chain Analytics Market size is expected to grow from USD 3,772.63 Million in 2019 to USD 8,787.53 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 15.13%.
Major factors driving the growth of supply chain analytics market size are growing data volume and speed, increasing efficiencies in the process and supply chain, and introducing artificial intelligence (AI ) and machine learning into supply chain management.
● Advanced and Predictive Analytics Market
● Predictive Analytics in Banking Market
● Network Analytics Market
The Global Network Analytics Market size is projected to reach USD 2721.3 Million by 2026, from USD 1094.1 Million in 2020, at a CAGR of 16.4% during 2021-2026.
● Risk Analytics Market
The Global Risk Analytics Market Size is expected to grow from USD 23,703.79 Million in 2019 to USD 48,540.71 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 12.68%.
● Cloud Business Analytics Market
The Global Cloud Business Analytics Market Size is expected to grow from USD 16,014.53 Million in 2019 to USD 47,982.30 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 20.06% during the forecast period.
● Social Media Analytics Market
The Social Media Analytics Market size was valued at USD 1.269 Billion, and is expected to reach USD 9.383 Billion by 2022, supported by a CAGR of 29.2%.
To see the full list of related reports on the Predictive Analytics Market, visit
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