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The Global Predictive Analytics Market was valued at USD 3.98 billion in 2016 and is projected to reach USD 24.45 billion by 2025, growing at a CAGR of 22.35% from 2017 to 2025.
Predictive analytics encompasses a variety of statistical techniques from predictive modeling, machine learning, and data mining that analyze current and historical facts to make predictions about future or otherwise unknown events. Predictive analytics provides several benefits to the organizations using it, that includes â€" improved efficiency in production, reduces risks, detect fraud, meets consumer expectations, optimizes marketing productivity, and influence cross-functional collaboration.
1. Market Drivers
1.1 Emergence of machine learning and AI
1.2 Increasing adoption of big data
1.3 Growing need to accelerate the development of better analytical tool
1.4 Rising adoption of predictive analytics for forecasting future market trends
2. Market Restraints
2.1 Concerns for data privacy
2.2 Data ecosystems and exchanges
2.3 Time consuming task in restructuring of predictive models
The Global Predictive Analytics Market is segmented on the organization size, component, deployment model, vertical, and region.
1. Organization Size:
1.1 Large Enterprises
1.2 Small and Medium Organizations
2. By Deployment Mode:
3. By Component:
3.1.1 Customer analytics
3.1.2 Marketing analytics
3.1.3 Web and social media analytics
3.1.4 Financial analytics
3.1.5 Network analytics
3.1.6 Risk analytics
3.1.7 Sales analytics
3.1.8 Supply chain analytics
3.2.1 Managed services
3.2.2 Professional services
184.108.40.206 Support and maintenance services
220.127.116.11 Consulting services
4. By Vertical:
4.2 Government and Defense
4.3 IT and Telecom
4.4 Banking, Financial Services, and Insurance (BFSI)
4.5 Transportation and Logistics
4.6 Retail and e-commerce
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. Oracle Corporation
2. IBM Corporation
3. SAS Institute, Inc.
4. NTT Data Corporation
5. Microsoft Corporation
6. SAP SE
7. Fair Isaac Corporation (FICO)
8. Angoss Software Corporation
9. Rapidminer, Inc.
10. Tableau Software, Inc
11. Tibco Software, Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Predictive Analytics Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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