The global Predictive Analytics Market was valued at USD 10.8 Bn in 2021 and is anticipated to grow at a CAGR of 21.8% and is expected to reach USD 63.7 Bn by 2030.
The increased adoption of Predictive Analytics in the Next Generation industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Predictive Analytics also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Predictive Analytics in many sectors also boosts the market growth during the forecast period.
Predictive analytics is the discipline of extracting information from current and historical datasets using statistics and modelling approaches in order to forecast likely future events and trends. The market is expanding because to an increase in awareness among companies about the huge volume of data created to anticipate future events utilising predictive analytic solutions. Furthermore, the increased use of the internet, along with the availability of several ways to access the internet, has resulted in a rise in data creation. As a result, harnessing this data to generate precise business plans and decisions improves revenue, creating demand for predictive analytics solutions.
Predictive Analytics Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Component (Solutions, Services, Professional Services, Managed Services), By Deployment (Cloud, On-Premise), By Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises (SMEs)), By Vertical (BFSI, Retail, Manufacturing, Government and Defence, Healthcare and Life Sciences, Energy and Utilities, Transportation and Logistics, Telecommunications and IT), and companies (KNIME, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., TIBCO Software Inc., Alteryx, Inc., Fair Isaac Corporation, Information Builders, International Business Machines Corporation.), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 21.8%, over the forecast period of 2022–2030.
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||63.7 Billion|
|By Component||Solutions, Services, Professional Services, Managed Services.|
|By Deployment||Cloud, On-Premise.|
|By Enterprise Size||Large Enterprises, Small and Medium-sized Enterprises (SMEs).|
|By Vertical||BFSI, Retail, Manufacturing, Government and Defence, Healthcare and Life Sciences, Energy and Utilities, Transportation and Logistics, Telecommunications and IT.|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||KNIME, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., TIBCO Software Inc., Alteryx, Inc., Fair Isaac Corporation, Information Builders, International Business Machines Corporation.|
The COVID-19 pandemic has had a substantial negative influence on the Predictive Analytics market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
KNIME, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., TIBCO Software Inc., Alteryx, Inc., Fair Isaac Corporation, Information Builders, International Business Machines Corporation.
Market Segment Analysis:
- Professional Services
- Managed Services
By Enterprise Size
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
- Government and Defence
- Healthcare and Life Sciences
- Energy and Utilities
- Transportation and Logistics
- Telecommunications and IT
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Predictive Analytics industries in the region.
Key Predictive Analytics Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Predictive Analytics Market segments.
– Largest Market Share Held by Industry to Industry for Predictive Analytics
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Predictive Analytics Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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