The
predictive analytics market size is expected to grow from USD 3.85 Billion in
2016 to USD 12.41 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of
22.1%. The major growth drivers of the market include an increasing business
interest toward advanced analytics for future estimations. The base year
considered for this report is 2016, and the market forecast period is 2017–2022.
The report provides detailed
insights into the global predictive analytics market, which is segmented by
type (solutions and services), deployment model, organization size, industry
vertical, and region. In the types segment, the risk analytics solution is
expected to have the largest market share during the forecast period. Vendors
provide software and solutions that assist companies with data collection and
data analysis for generating meaningful insights. Predictive analytics helps in
recognizing the trends and patterns, and delivers results for making better
business decisions, thereby helping in achieving a high growth with increased
revenues by mitigating the risks.
On
the basis of organization sizes, the predictive analytics market is segmented
into Small and Medium-sized Enterprises (SMEs) and large enterprises. The large
enterprises segment is witnessing an increasing adoption rate and is expected
to continue its dominating position during the forecast period. Whereas, the
SMEs segment, with an increasing focus on improving the customer experience, is
likely to have the highest growth rate during the forecast period. Among
deployment models, the cloud-based deployment model is expected to exhibit a
higher adoption rate, due to the rising demand for 24*7 availability of
accessible information and low-cost maintenance services.
The
Banking, Financial Services, and Insurance (BFSI) industry vertical is
projected to have the largest market share and is expected to lead the market
during the forecast period. The financial organizations, through their credit
scoring techniques, try to minimize frauds and risks. Predictive analytics
introduces the forward-looking perspectives of businesses to its existing
processes.
In terms of market share, North
America is expected to continue its dominating position during the forecast
period. This is mainly because of the presence of various developed economies,
such as Canada and the US, and focus over innovating the existing solutions.
North America produces a large amount of data and, thus, is the largest market
for predictive analytics solutions. The early adoption of technologies and high
penetration of predictive analytics in various industry verticals, such as
manufacturing, healthcare, transportation, and logistics, are driving the
growth of this market in the region. The Asia Pacific (APAC) region is expected
to grow at the highest CAGR during the forecast period. Factors such as growing
technology expenditures in countries, including China and India, and the demand
for cost-effective advanced analytical software and services among Small and
Medium-sized Enterprises (SMEs) are expected to drive the market growth during
the forecast period.
The
major vendors providing predictive analytics software and services are Alteryx,
Inc. (US), AgilOne (US), Angoss Software Corporation (Canada), Domino Data lab
(US), Dataiku (US), Exago, Inc. (US), Fair Isaac Corporation (FICO) (US),
GoodData Corporation (US), International Business Machines (IBM) Corporation
(US), Information Builders (US), Kognitio Ltd. (UK), KNIME.com AG
(Switzerland), MicroStrategy, Inc. (US), Microsoft Corporation (US), NTT DATA
Corporation (Japan), Oracle Corporation (US), Predixion Software (US),
RapidMiner (US), QlikTech International (US), Sisense, Inc. (US), SAP SE
(Germany), SAS Institute, Inc. (US), Tableau Software, Inc. (US), TIBCO
Software, Inc. (US), and Teradata Corporation (US).
Know More Predictive Analytics Market - https://www.marketsandmarkets.com/Market-Reports/predictive-analytics-market-1181.html
About
MarketsandMarkets™
MarketsandMarkets™
provides quantified B2B research on 30,000 high growth niche
opportunities/threats which will impact 70% to 80% of worldwide companies’
revenues. Currently servicing 7500 customers worldwide including 80% of global
Fortune 1000 companies as clients. Almost 75,000 top officers across eight
industries worldwide approach MarketsandMarkets™ for their painpoints around
revenues decisions.
Our 850
fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth
markets following the "Growth Engagement Model – GEM". The GEM aims
at proactive collaboration with the clients to identify new opportunities, identify
most important customers, write "Attack, avoid and defend"
strategies, identify sources of incremental revenues for both the company and
its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants
(Positioning top players across leaders, emerging companies, innovators,
strategic players) annually in high growth emerging segments.
MarketsandMarkets™ is determined to benefit more than 10,000 companies this
year for their revenue planning and help them take their innovations/disruptions
early to the market by providing them research ahead of the curve.
MarketsandMarkets’s
flagship competitive intelligence and market research platform, "Knowledge
Store" connects over 200,000 markets and entire value chains for deeper
understanding of the unmet insights along with market sizing and forecasts of
niche markets.
Contact:
Mr. Salgarkar
MarketsandMarkets™ INC.
Mr. Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
No comments:
Post a Comment