16-Mar-2021 | Facts and Factors
As per the report published by Facts & Factors, the global predictive analytics market was valued at approximately USD 5.7 Billion in 2019 and is expected to generate revenue of around USD 22.1 Billion by end of 2026, growing at a CAGR of around 24.5% between 2020 and 2026.
Predictive analytics are used to obtain information from historical and current datasets using stats and modeling techniques to forecast potential future findings and trends. Increasing organizational awareness of massive volumes of data induced to forecasting potential outcomes using predictive analytical solutions influences the market growth.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 5.7 Billion |
Projected Market Size in 2026 |
USD 22.1 Billion |
Growth Rate |
CAGR 24.5% |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Oracle Corporation, Microsoft Corporation, SAP SE, IBM, SAS Institute, Salesforce, Google, Teradata Corporation, AWS, Alteryx, Inc., FICO, Altair, TIBCO Software Inc, Cloudera, and Infor among others. |
Key Segment |
By Solution, By Service, By Organization Size, By Methodology, By Vertical, and By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Major players in the market are Microsoft Corporation, Oracle Corporation, IBM, SAS Institute, SAP SE, Google, Salesforce, AWS, Teradata Corporation, Alteryx, Inc., Altair, FICO, Cloudera, TIBCO Software Inc, and Inforamong others.
Surge in the Adoption of Predictive Analytics among End-User
Technology is the key driver of the market for predictive analytics. It is possible in manufacturing and other industries because IoT and data science are implemented. In addition, value-added is another trend that every company strives for now. This is also a major factor in the growth of the global predictive analytics market. In addition, the modernization of automation and other technologies businesses is also expected to drive market growth.
North America is projected To Dominate the Global Predictive Analytics Market
In North America, the United States is the major contributor to the predictive analytics market. It is due to the heavy usage of advanced analytics across several industries. Moreover, the rise in the retail sector in the country is boosting the market demand. Thereby, retail e-commerce sales are expected to increase which will compel the retailers to use predictive analytics to be in competitive advantage. Citing an instance, the global eCommerce market leader Amazon Web Service uses predictive analysis to identify precisely what consumer goods people are buying, browsing, and returning. Amazon applies deep, data-driven insights into predictive analytics In order to make decisions about its product range strategy. Using predictive analytics, the company maximizes its sales by filling its stores and online endless aisles with desired goods. Certain advantages are encouraging the market players and thereby, it is increasing the market size in this region.
Browse the full“Predictive Analytics Market By Solution (Financial Analytics, Risk Analytics, Marketing Analytics, Sales Analytics, Customer Analytics, Web and Social Media Analytics, Supply Chain Analytics, Network Analytics, and Others), By Service (Managed Services, and Professional Services), By Deployment (Cloud, and On-Premise), By Organization Size (Small And Medium Enterprises, and Large Enterprises), By Methodology (Time Series Analysis, Regression, Decision Trees, and Machine Learning , and By Vertical (Banking, Financial Services, And Insurance, Telecommunications & IT, Retail & Ecommerce, Healthcare & Life Sciences, Manufacturing, Government & Defense, Energy & Utilities, Transportation & Logistics, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/predictive-analytics-market
The Global Predictive Analytics market is segmented as follows:
By Solution:
- Financial Analytics
- Risk Analytics
- Marketing Analytics
- Sales Analytics
- Customer Analytics
- Web and Social Media Analytics
- Supply Chain Analytics
- Network Analytics
- Others
By Service:
- Managed Services
- Professional Services
By Deployment:
By Organization Size:
- Small And Medium Enterprises
- Large Enterprises
By Methodology:
- Time Series Analysis
- Regression
- Decision Trees
- Machine Learning
By Vertical:
- Banking, Financial Services, And Insurance
- Telecommunications & IT
- Retail & Ecommerce
- Healthcare & Life Sciences
- Manufacturing
- Government & Defense
- Energy & Utilities
- Transportation & Logistics
- Others
By Region:
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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