Global Predictive Analytics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
"Global Predictive Analytics Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global predictive analytics market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global predictive analytics market report has been segmented on the basis of component, deployment, end use, business functions, organization type, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the predictive analytics market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Predictive analytics encompass of statistical techniques, and tools with machine-learning algorithms to identify historic occurrences with real-time facts and predict future consequences. Predictive analytics helps in detecting frauds, optimizing marketing campaigns, improving real-time processes, and assistance in reducing future risk. Moreover, prediction involves extraction of information from raw data to provide fact-based decision making and assessment patterns which helps in predicting uncertainties or behavior patterns for any business.
Increasing data availability from various data silos is supporting growth of predictive analytics market. Also, increasing myriad data dependence to forecast analytical solutions, is expected to be the key factor to drive growth of the target market in the near future. Massive data deluge collected by various enterprises to gain granular analysis of data, to enhance customer relationship management (CRM), to develop marketing solutions, for business risk analysis, and to improve customer base, are some of factors expected to propel growth of the target market. Data exploration and extraction in form of data mining process from data warehouses are coupled closely to gain high chances of utilization in predictive analytics, is another factor in data analytics to witness market growth for global market.
Rising prominence of big data technologies to handle, and implement predictive analytics that enhance product usability, decision-making process, and analyze historic data to be meaningful for future customization are expected to be the key factors for exponential growth of the global market.
Increasing smart system integration with big data techniques, and technologies, where data representation is simplified for better understanding of user have given rise to data visualization tools in dashboards presentation. Increasing demand for visualization and analytical tools with responsive systems is expected to propel predictive analytics market growth. As well as, increasing demand of business process to adapt analytical capabilities are expected to support growth of the target market. Additionally, rising focus on competitive intelligence systems such as artificial intelligence, which is used to predict future outcomes, customer requirement analysis, and fact-based decision making for predicting uncertainties, and business growth opportunities is expected to be key contributors in the growth of target market.
Adoption of emerging technologies in small and medium scale enterprises (SME’s) such as cloud technology, may offer significant growth opportunity for market players in the predictive analytics market.
However, in case of issues with data privacy and ownership of data and changing regulations which leads to the restructuring of analytics model is expected to restraint growth of the global market. In addition, lack of awareness coupled with lack of skilled professionals is another factor expected to restrain growth to a certain extent.
Analysis by region:
The North America market is expected to dominate the global market in terms of revenue, due to its advancements in technologies. High growth of market in the US owing to myriad of established players in analytics sector. Market in Asia Pacific is expected to witness fastest growth in terms of revenue in the near future, owing to rise in innovations in smart technologies in this region. The Latin America and Middle East and Africa are expected to witness significant growth over the coming years owing to increasing preferences of enterprises for cloud and rising need for IT services by the government sector. In addition, shift towards predictive analytics among organizations to enhance their business growth is another factor anticipated to propel growth of the predictive analytics market in Asia Pacific region.
Global Market Segmentation:
Global market segmentation by component:
Global market segmentation by deployment:
Global market segmentation by end use:
- Banking & Financial Services and Insurance (BFSI)
- Communication Media and Services
- Sales & Marketing Management
- Transportation and Logistics
- Government and Utilities
- Others (Food and Beverages, Oil & Gas, Real Estate)
Global market segmentation by business functions:
- Human resource
Global market segmentation by organization type:
- Large Enterprises
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- GraphLab Create
- Statsoft, Inc.
- Oracle Corporation
- Fair Isaac Corporation (FICO)
- Salford Systems, Inc.
- TIBCO Software, Inc.
- RapidMiner, Inc.
- Angoss Software Corporation
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