The new report by Market Research Future (MRFR) asserts that the global predictive analytics market 2020 is poised to generate a market value of USD 13 billion by 2023, expanding at a CAGR of 21% over the review period.
The major market players identified by MRFR in the global predictive analytics market are Radius Intelligence Inc. (US), Dundas Data Visualization, Inc. (Canada), Microsoft Corporation (US), SAP SE (Germany), Tibco Software Inc. (US), IBM Corporation (US), SAS Institute Inc. (US), Oracle Corporation (US), Tableu Software (US), and NTT Data Corporation (Japan).
Other players also include BOARD International (Switzerland), Fair Isaac Corporation (US), Rapidminer Inc. (US), Angoss Software Corporation (Canada), and Ignite Technologies, Inc. (US),among others.
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Drivers and Restraints
The rising adoption of predictive analytics solutions to forecast the market trends and to increase the need for predictive analytics among the enterprises to maintain a competitive advantage is driving the growth in the market. Globalization and economic growth are also playing significant roles in driving more significant data generation worldwide. Furthermore, augmenting the usage of big data and analytics is further driving the growth of the market. Advancements in modern technologies such as machine learning, Artificial Intelligence, and advanced analytics are expected to foster growth opportunities for the predictive analytics market in the coming years.Another factor accelerating adoption is the revenue-generating potential of predictive analytics. This is compelling for firms to invest in predictive analytics. Also, the upsurge in connected and integrated technologies has provided a platform for predictive analytics software vendors for leveraging this development and the unprecedented growth of the internet. Furthermore, the eCommerce sector has modified the traditional shopping behavior of customers.
Alternatively, the lack of awareness about the benefits of predictive analytics among users is one of the crucial factors hindering the growth of the predictive analytics market over the review period.
- Associations, Organizations, Forums, And Alliances
- Government Bodies and Departments
- Technical Universities
- Service Providers
- Independent Software Vendors
- Research and Development Companies
- Analytics Consulting Companies
- Market Research and Consulting Firms
- Predictive Analytics Software Developers
- Technology Standards Organizations
- Technology Investors
- Raw Material Suppliers
The global market for predictive analytics is segmented on the basis of organization size, deployment, techniques, applications, and vertical.
Based on the deployment, the global predictive analytics tools market is divided into on-premise and on-cloud. cloud deployment for predictive analytics solutions is expected to grow with an increasing awareness of the benefits of cloud-based solutions.
On the basis of organization size, the global Predictive Analytics Market is bifurcated into large enterprises and SMEs.
Based on the techniques, the market is segmented into bayesian recommendation systems, support vector machines (SVMs), deep neural networks, and others.
On the basis of applications, the market for predictive analytics is segmented into risk assessment, customer churn rate prevention, customer analysis, market analysis, sales forecasting, financial modeling, and others.
Based on the vertical, the prescriptive & predictive analytics market is segmented into BFSI, IT & telecommunication, retail & e-commerce, manufacturing, transportation & logistics, healthcare, government & defense, and others.
The geographical analysis of the global predictive analytics market has been carried out in four major regions, comprising the Asia Pacific, North America, Europe, and the rest of the world (covering Latin America as well as the Middle East and Africa).
North America accounts for the maximum market share, owing to the rising adoption of predictive analytics as well as growing penetration of predictive analytics in multiple industry verticals, such as BFSI, retail and e-commerce, and government. The US and Canada are 2 two major markets in North America that are observing healthy adoption of advanced technologies, including predictive analytics solutions. The majority of the critical players of the predictive analytics market are from North America, which is intensely trying to develop predictive analytics solutions according to the latest technological trends. Asia-Pacific is expected to be the fastest-growing segment owing to government initiative supporting SMEs in countries such as India, China and Japan. SMEs need predictive analytics solutions which helps them to surge their operational performance.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.5 Bargaining Power Of Suppliers
4.2 Value Chain/Supply Chain Of Predictive Analytics Market
5 Market Overview Of Predictive Analytics Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
6 Market Trends
6.2 Growth Trends
6.3 Impact Analysis
LIST OF TABLES
Table 1 Global Predictive Analytics Market, By Country, 2018–2023
Table 2 North America: Predictive Analytics Market, By Country, 2018–2023
Table 3 Europe: Predictive Analytics Market, By Country, 2018–2023
Table 4 Asia-Pacific: Predictive Analytics Market, By Country, 2018–2023
Table 5 North America: Predictive Analytics Market, By Country
Table 6 North America: Predictive Analytics Market, By Deployment
Table 7 North America: Predictive Analytics Market, By Organization Size
Table 8 North America: Predictive Analytics Market, By Techniques
Table 9 North America: Predictive Analytics Market, By Application
Table 10 North America: Predictive Analytics Market, By Vertical
LIST OF FIGURES
FIGURE 1 Global Predictive Analytics Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Predictive Analytics Market
FIGURE 4 Value Chain Of Global Predictive Analytics Market
FIGURE 5 Share Of Predictive Analytics Market In 2018, By Country (In %)
FIGURE 6 Global Predictive Analytics Market, 2018–2023
FIGURE 7 Global Predictive Analytics Market Size By Deployment, 2018–2023
FIGURE 8 Share Of Global Predictive Analytics Market By Deployment, (In %)
FIGURE 7 Global Predictive Analytics Market Size By Organization Size, 2018–2023
FIGURE 8 Share Of Global Predictive Analytics Market By Organization Size, (In %)
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