Predictive Analytics Market Growth Factors, Opportunities, Ongoing Trends and Global Key Players


Posted May 19, 2021 by gauriDD123-

The global predictive analytics market size to grow from USD 7.2 billion in 2020 to USD 21.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 24.5% during the forecast period.

 
The large-scale Predictive Analytics Market business report has basics of industry such as market definitions, classifications, applications, and industry chain overview, and it also covers industry policies and plans, product specifications, manufacturing processes, cost structures, and so on. This global market report estimates the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter’s Five Forces Analysis. The Predictive Analytics Market report puts light on the change in the market which is taking place due to the moves of key players and brands such as product launches, joint ventures, mergers, and acquisitions that in turn modifies the view of the global face of the industry.

Predictive Analytics Market by Solution (Financial Analytics, Risk Analytics, Marketing Analytics, Web & Social Media Analytics, Network Analytics), Service, Deployment Mode, Organization Size, Vertical, and Region – Global Forecast to 2025 The global predictive analytics market size to grow from USD 7.2 billion in 2020 to USD 21.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 24.5% during the forecast period.

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The report includes the study of key players offering predictive analytics solutions and services. It profiles major vendors in the global predictive analytics market. The major vendors in the global predictive analytics market are :

Microsoft (US), IBM (US), SAS Institute (US), SAP (Germany), Oracle (US), Google (US), Salesforce (US), Amazon Web Services (US), Hewlett Packard Enterprise (US), Teradata (US), Alteryx (US), Altair (US), FICO (US), Domo (US), Cloudera (US), Board International (Switzerland), TIBCO Software (US), Hitachi Vantara (US), Happiest Minds (India), Dataiku (US), Qlik (US), RapidMiner (US), ibi (US), Infor (US), Biofourmis (US), In-Med Prognostics (US), Aito.ai (Finland), Symend (US), Onward Health (India), Unioncrate (US), CyberLabs (Brazil), Actify Data Labs (India), Amlgo Labs (India), Verimos (US).

The spread of COVID-19 has generated a massive disruption in daily activities. It has forced people to follow social distancing policies, temporarily suspend many business activities, and limit travel. Under such circumstances, the healthcare vertical has emerged as the biggest user of big data and predictive analytics to understand the virus and its spread. Predictive modeling has provided organizations with transportation fleets to create future business insights with a significant degree of accuracy. Predictive analytics companies are witnessing a slowdown in their growth, owing to the lockdowns imposed worldwide.

Healthcare and life sciences and BFSI verticals have been least impacted by the COVID-19 and are continuing the adoption of predictive analytics solutions. The healthcare vertical has sought to use big data and predictive analytics tools to better understand the virus and its spread. Predictive analytics has helped researchers around the world to build predictive analytics models that can track COVID-19 surges in different countries.The competition among key predictive analytics companies is expected to intensify as most upcoming analytics projects have been put on hold owing to the pandemic. Businesses have already started making efforts to return to the normal and are facing multiple challenges at customer and operational levels.New practices, such as work-from-home and social distancing, have led to the requirement of remote health monitoring of patients and assets and smart payment technologies, as well as the development of digital infrastructures for large-scale technology deployments.

The services segment to grow at a higher CAGR during the forecast period

The predictive analytics market is segmented on the basis of components, such as solutions and services. The services segment is expected to grow at a rapid pace during the forecast period. Factors such as pre-sales and post-sales support and the lack of technical skills and capabilities needed for assistance during the up-gradation of software drive the adoption of predictive analytics services.

The risk analytics solution segment to have the largest market size during the forecast period

The Predictive analytics market by solution has been segmented into financial analytics, risk analytics, marketing analytics, sales analytics, customer analytics, web and social media analytics, supply chain analytics, network analytics, and others (HR analytics and legal analytics).The risk analytics solution in predictive analytics facilitates enterprises to establish a baseline for measuring risks across verticals, such as BFSI, healthcare, and life sciences, and retail and eCommerce, by incorporating all the facets of risks together into a single unified system that provides key decision-makers with adequate clarity in identifying, viewing, understanding, and managing risks leading to its adoption in the predictive analytics market.

The BFSI segment to grow to have the largest market size during the forecast period

The predictive analytics market by vertical has been segmented into BFSI, retail and eCommerce, manufacturing, government and defense, healthcare and life sciences, energy and utilities, transportation and logistics, telecommunications and IT, and others(media and entertainment, travel and hospitality, and education). BFSI vertical is expected to register the largest market size during the forecast period due to significant financial data’s sensitivity and need to coordinate with numerous other sectors,including stock exchanges, tax authorities, central banks, securities controlling authorities, and revenue departments. The emergence of predictive analytics in finance has necessitated the development of predictive analytics solutions capable of handling it in real-time.

Among regions, Asia Pacific (APAC) to grow at the highest CAGR during the forecast period

APAC is expected to grow at the highest CAGR during the forecast period. The increasing investments by the tech companies in major APAC countries, such as China, and Japan, increasing the increasing adoption of AI and deep learning algorithms are expected to drive the growth of the market in APAC.

Breakdown of primaries

In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the Predictive analytics market.

By Company: Tier I: 34%, Tier II: 43%, and Tier III: 23%
By Designation: C-Level Executives: 50%, Directors: 30%, and Others: 20%
By Region: North America: 25%, APAC: 30%, Europe: 30%, MEA: 10%, and Latin America: 5%
Research Coverage

The market study covers the predictive analytics market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as components, deployment modes, organization size, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report

The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall predictive analytics market and its sub segments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

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Table of Contents

1 Introduction
1.1 Introduction To Covid-19
1.2 Covid-19 Health Assessment
Figure 1 Covid-19: The Global Propagation
Figure 2 Covid-19 Propagation: Select Countries
1.3 Covid-19 Economic Assessment
Figure 3 Revised Gross Domestic Product Forecasts For Select G20 Countries In 2020
1.3.1 Covid-19 Economic Impact—Scenario Assessment
Figure 4 Criteria Impacting The Global Economy
Figure 5 Scenarios In Terms Of Recovery Of The Global Economy
1.4 Objectives Of The Study
1.5 Market Definition
1.5.1 Inclusions And Exclusions
1.6 Market Scope
1.6.1 Market Segmentation
1.6.2 Regions Covered
1.6.3 Years Considered For The Study
1.7 Currency Considered
Table 1 United States Dollar Exchange Rate, 2017–2019
1.8 Stakeholders
1.9 Summary Of Changes

2 Research Methodology
2.1 Research Data
Figure 6 Predictive Analytics Market: Research Design
2.1.1 Secondary Data
2.2 Market Breakup And Data Triangulation
Figure 7 Data Triangulation
2.2.1 Primary Data
2.2.1.1 Key Industry Insights
Table 2 Primary Interviews
2.2.1.2 Breakup Of Primary Profiles
2.3 Market Size Estimation
Figure 8 Market Size Estimation Methodology -Approach 1 (Supply Side): Revenue Of Solutions/Services Of Predictive Analytics Market
Figure 9 Market Size Estimation Methodology -Approach 2 – Bottom-Up (Supply Side): Collective Revenue Of All Solutions/Services Of Market
Figure 10 Market: Top-Down And Bottom-Up Approaches
2.3.1 Top-Down Approach
2.3.2 Bottom-Up Approach
2.4 Market Forecast
Table 3 Factor Analysis
Table 4 Impact Of Covid-19
2.5 Company Evaluation Matrix
Figure 11 Competitive Evaluation Matrix: Criteria Weightage
2.6 Assumptions For The Study
2.7 Limitations Of The Study

3 Executive Summary
Table 5 Global Predictive Analytics Market Size And Growth Rate, 2014–2019 (Usd Million, Y-O-Y%)
Table 6 Global Market Size And Growth Rate, 2019–2025 (Usd Million, Y-O-Y%)
Figure 12 Solutions Segment To Hold Larger Market Size In 2020
Figure 13 Risk Analytics Segment To Hold Largest Market Size In 2020
Figure 14 Professional Services Segment To Hold Higher Market Share In 2020
Figure 15 Deployment And Integration Segment To Hold Higher Market Share In 2020
Figure 16 On-Premises Segment To Hold Larger Market Size In 2020
Figure 17 Large Enterprises Segment To Hold Higher Market Share In 2020
Figure 18 Banking, Financial Services, And Insurance Vertical To Hold Largest Market Size In 2020
Figure 19 North America To Hold Highest Market Share In 2020

4 Premium Insights
4.1 Attractive Opportunities In Predictive Analytics Market
Figure 20 Increasing Adoption Of Ai And Ml Technologies To Boost Market Growth
4.2 Market, By Solution
Figure 21 Risk Analytics Segment To Hold Largest Market Size From 2020 To 2025
4.3 Market, By Region
Figure 22 North America To Hold Highest Market Share In 2020
4.4 Market, By Solution And Vertical
Figure 23 Risk Analytics Segment And Banking, Financial Services, And Insurance Vertical To Hold Highest Market Shares In 2020

5 Market Overview And Industry Trends
5.1 Introduction
5.2 Market Dynamics
Figure 24 Drivers, Restraints, Opportunities, And Challenges: Predictive Analytics Market
5.2.1 Drivers
5.2.1.1 Rising Adoption Of Big Data And Other Related Technologies
5.2.1.2 Advent Of Machine Learning And Artificial Intelligence
5.2.1.3 Cost Benefits Of Cloud-Based Predictive Analytics Solutions
5.2.2 Restraints
5.2.2.1 Changing Regional Data Regulations Leading To The Time-Consuming Restructuring Of Predictive Models
5.2.3 Opportunities
5.2.3.1 Rising Internet Proliferation And Growing Usage Of Connected And Integrated Technologies
5.2.3.2 Increasing Demand For Real-Time Streaming Analytics Solutions To Track And Monitor The Covid-19 Spread
5.2.4 Challenges
5.2.4.1 Growing Demand For Diversified Data Models Based On Business Needs
5.2.4.2 Ownership And Privacy Of Collected Data
5.2.5 Cumulative Growth Analysis
5.3 Impact Of Covid-19 On The Predictive Analytics Market
Figure 25 Market To Witness Decline In Growth In 2020
5.4 Predictive Analytics: Evolution
Figure 26 Evolution Of Predictive Analytics
5.5 Predictive Analytics: Ecosystem
Figure 27 Predictive Analytics: Ecosystem
5.6 Case Study Analysis
5.6.1 Banking, Financial Services, And Insurance
5.6.1.1 Case Study 1: Streamlining The Mortgage Appraisal Process
5.6.2 Telecommunications And It
5.6.2.1 Case Study 1: Segmenting Customers To Deliver Accurate And Timely Decisions
5.6.3 Retail And Ecommerce
5.6.3.1 Case Study 1: Using Weather Data To Predict Sales
5.6.4 Healthcare And Life Sciences
5.6.4.1 Case Study 1: Improve Healthcare Operations With Data Analysis
5.6.5 Manufacturing
5.6.5.1 Case Study 1: Improving Customer Support In Electronic Manufacturing
5.6.6 Energy And Utilities
5.6.6.1 Case Study 1: Increasing Debt Collection
5.6.7 Transportation And Logistics
5.6.7.1 Case Study 1: Visualizing And Predicting The Status Of The Fleet
5.7 Patent Analysis
5.7.1 Patents Filed: Predictive Analytics Market, By Solution, 2019–2020
5.8 Value Chain Analysis
Figure 28 Value Chain Analysis
5.9 Technology Analysis
5.9.1 Ai And Predictive Analytics
5.9.2 Blockchain And Predictive Analytics
5.9.3 Ml And Predictive Analytics
5.9.4 Iot And Predictive Analytics
5.9.5 5g And Predictive Analytics
5.10 Pricing Analysis
5.11 Regulatory Implications
5.11.1 Introduction
5.11.2 Sarbanes-Oxley Act Of 2002
5.11.3 General Data Protection Regulation
5.11.4 Basel

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Last Updated May 19, 2021