According to IMARC Group’s latest report, titled “Predictive Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global predictive analytics market reached a strong growth in 2020. Predictive analytics is the branch of advanced analytics that uses data mining, statistical algorithms, artificial intelligence, Big Data, and machine learning techniques to predict future outcomes. Predictive analytics offers various advantages, such as detecting fraud by improving pattern detection, preventing criminal behavior, and optimizing marketing campaigns by determining customer responses and purchases. It also improves operations and reduces risks by assessing the buyer’s likelihood of default for purchases.
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The global predictive analytics market is primarily driven by the growing adoption of integrated and connected technology. This has provided a platform for predictive analytics solutions to vendors to capitalize on the evolution of the internet. Besides this, several organizations opt for predictive analytics to acquire accurate insights, which will help them boost their financial performance and credibility. In addition to this, several regulatory authorities, such as BFSI, extensively invest in Big Data to undergo digital transformation that will improve customer experience and deal with changing customer behavior. These factors are expected to fuel the market growth in the coming years. Looking forward, the global predictive analytics market is expected to grow at a CAGR of 24.5% during the forecast period (2021-2026).
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- International Business Machines Corporation
- Oracle Corporation
- SAP SE
- Microsoft Corporation
- SAS Institute Inc.
- Fair Isaac Corporation (FICO)
- NTT Data Corporation (Nippon Telegraph and Telephone CORPORATION)
- Tableau Software LLC (Salesforce.com.Inc)
- Tibco Software Inc.
- RapidMiner Inc.
- Altair Engineering Inc
Breakup by Business Function:
- Human Resource
Breakup by Solution:
- Customer Analytics
- Financial Analytics
- Marketing and Sales Analytics
- Network Analytics
- Risk Analytics
- Supply Chain Analytics
- Web and Social Media Analytics
- Operations Management
- Workforce Management
Breakup by Service:
- Training and Consulting
- Support and Maintenance
Breakup by Deployment:
Breakup by Organization Size:
- Small and Medium Enterprises
- Large Enterprises
Breakup by End Use Industry:
- Banking, Financial Services and Insurance
- Telecommunication and IT
- Retail and E-Commerce
- Healthcare and Life Science
- Government and Defense
- Energy and Utility
- Transport and Logistics
- Media and Entertainment
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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