Predictive Analytics Market Scope
Increasing Adoption of Big Data and Other Related Technologies will help to boost the global market in the forecasted period. Predictive analytics is the practice of removing information from existing data sets in order to determine patterns and predict future outcomes and trends. The key drivers for the predictive analytics market growth are improved product usability, huge data deluge, adoption of new technologies, and newer levers of the differentiator. Furthermore, database management, data warehouses, forecasting, data mining, and CRM analytics, smart, decision-making process, logistics, data visualization in dashboards, and growing demand of business having analytic abilities are anticipated to trigger global predictive analytics market growth over the forecast period.
The Predictive Analytics market study is segmented by Type (Financial Analytics, Risk Analytics, Marketing Analytics, Sales Analytics, Web & Social Media Analytics and Network Analytics), by Application (Retail and eCommerce, Manufacturing, Government and defense, Healthcare and life sciences, Energy and utilities, Telecommunication and IT, Transportation and logistics, BFSI and Others) and major geographies with country level break-up. According to AMA, the Global Predictive Analytics market is expected to see growth rate of 20.12% and may see market size of USD17.19 Billion by 2025.
The Players having a strong hold in the market are Alteryx Inc., AgilOne, Angoss Software, Domino Data Lab, and Dataiku. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Predictive Analytics market throughout the predicted period.
Alteryx Inc. (United States), AgilOne (United States), Angoss Software Corporation (Canada), Domino Data Lab (United States), Dataiku (United States), Exago, Inc. (United States), Fair Isaac Corporation (FICO) (United States), GoodData Corporation (United States), International Business Machines (IBM) Corporation (United States), Information Builders (United States), Kognitio Ltd. (United Kingdom), KNIME.com AG (Switzerland), MicroStrategy, Inc. (United States) and Microsoft Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are NTT DATA Corporation (Japan), Oracle Corporation (United States), Predixion Software (United States), RapidMiner (United States), QlikTech International (United States), Sisense, Inc. (United States), SAP SE (Germany), SAS Institute, Inc. (United States), Tableau Software, Inc. (United States), TIBCO Software, Inc. (United States) and Teradata Corporation (US).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global Predictive Analytics market by Type, Application and Region.
On the basis of geography, the market of Predictive Analytics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North Amercia region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
- Escalating Demand for IoT Enabled Predictive Analytics Tools
- Introduction to Artificially Intelligent and Big Data Based Highly Advanced Analytical Tools
- Robust Demand for Advanced Forecasting and Analytics to Predict Upcoming Outcomes
- Growing Adoption of Predictive Analytics Tools in Small and Medium-Sized Businesses
- Robust Research and Development Investments in Developing Technologically Advanced Predictive Analytics
- Increasing Awareness about Analytical Tools from Developing Institutes and SMEs
- Integration Complexities with the Existing Analytics Tools
- Significant Differentiation in Government Regulations and Application Development Standards
- Data Privacy and Validations Concerns across the Global Market
- Significant Post Purchase Maintenance and Repairing Complexities in Predictive Analytics
Key Target AudiencePredictive Analytics Service Providers, Predictive Analytics Tools Vendors, Application Development Industry Associations, Research and Development Institutes, Financial Organizations and Venture Capitalists, Government Agencies, Upstream and Downstream Buyers and Others
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