The global Predictive Analytics market gathered revenue around USD 10 Billion in 2021 and market is set to grow USD 30.7 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 22.8% during the prediction period 2021 to 2027.
Growth Factors:
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.
The spread of COVID-19 has been disrupting the world, businesses, and economies and has impacted the way of living of the masses and approaches adopted by enterprises for their business management. The ability of enterprises to sustain this pandemic has become new normal for them as they shift their focus from growth opportunities and concentrate on implementing measures to mitigate the impact of COVID-19. The upcoming analytics projects are kept on hold owing to the pandemic. Several companies are competing with each other to gain a single project. Businesses have already started their efforts to return to normal and are facing multiple challenges in terms of the impact of the pandemic on their customer base and operations. Meeting customer expectations in terms of optimization of processes and increased security concerns due to the presence of various connected networks, rise in connectivity issues, and decline in industrial and manufacturing operations are the key challenges faced by businesses. New practices such as work from home and social distancing are creating the requirement of the remote health monitoring of infected patients, smart payment technologies, and the development of digital infrastructures for large-scale technology deployments. With an increased focus on health, there has been a rise in the demand for health-related wearable devices. For instance, in August 2020, Fitbit announced 34.1% growth in its smartwatch sales in the second quarter of 2020.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Predictive Analytics market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Predictive Analytics market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope | Details |
| Market Size | USD 30.7 Billion by 2027 |
| Growth Rate | CAGR of 22.8% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Component, Deployment Mode, Organization Size, Vertical And Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | IBM, Microsoft, Oracle, SAP, SAS Institute, Google, Salesforce, AWS, HPE, Teradata, Alteryx, FICO, Altair, Domo, Cloudera, Board International, TIBCO Software, Hitachi Vantara, Qlik, Happiest Minds, Dataiku, RapidMiner, Biofourmis, In-med Prognostics, Aito.Ai. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Predictive Analytics market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Regional analysis:
North America is expected to have the largest market share in the Predictive Analytics market. The adoption of predictive analytics solutions is expected to be the highest in North America, as compared to the other regions. This is mainly because of the presence of various developed economies, such as Canada and the US, and due to the focus on innovations obtained from R&D and various technologies. North America, a hub of data generation in large quantities, is the largest market for predictive analytics solutions.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Predictive Analytics Market include: IBM, Microsoft, Oracle, SAP, SAS Institute, Google, Salesforce, AWS, HPE, Teradata, Alteryx, FICO, Altair, Domo, Cloudera, Board International, TIBCO Software, Hitachi Vantara, Qlik, Happiest Minds, Dataiku, RapidMiner, Biofourmis, In-med Prognostics, Aito.Ai, Symend, Onward Health, Unioncrate, CyberLabs, Actify Data Labs, Amlgo Labs, and Verimos .
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Component:
By Deployment Mode
By Organization Size:
By Vertical:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Predictive Analytics market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Predictive Analytics market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Predictive Analytics markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Predictive Analytics market Study:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers