Predictive Analytics Market Size, Share, Industry Analysis Report, 2020-2025

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Predictive Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Market Overview:

The global predictive analytics market exhibited double-digit growth rates during 2014-2019. Predictive analytics stands for a branch of advanced analytics that predicts the likelihood of future events by analyzing historical and current data. It utilizes various statistical techniques to analyze data, such as data mining, machine learning, big data, and artificial intelligence. Predictive analytics helps in reducing financial risks, detecting frauds, improving marketing campaigns, enhancing business efficiency, and providing a better customer experience. As a result, it is widely adopted across diverse sectors, including telecom, IT, retail, healthcare, manufacturing, government, energy, transportation, media and entertainment, etc.

The rising trend of automation across several industries has propelled the adoption of predictive analytics to evaluate large data volumes and predict future scenarios with high revenue-generating potential. Furthermore, intensive business competition is also augmenting the demand for predictive insights to deploy robust business strategies and enhance decision-making in real-time. Additionally, the expanding e-commerce sector coupled with the rising inclination of online retailers towards customer analytics solutions, is further catalyzing the market growth. Predictive analytics in the e-commerce sector enables retailers to perform real-time analysis of consumer shopping behavior and provides numerous personalized experiences to improve customer retention. The increasing penetration of e-commerce platforms has also propelled the demand for enhanced logistics and warehousing services that deploy supply chain analytics on a real-time basis. Additionally, the rising digitalization levels in the BFSI sector to enhance numerous regulatory compliance processes, such as credit risk management, capital planning, and insurance risk management, are further augmenting the demand for predictive analytics. Apart from this, the increasing penetration of advanced technologies, such as AI, data mining, augmented and virtual reality, big data, machine learning, etc., is also bolstering the adoption of predictive analytics. In the coming years, the growing deployment of cloud-based predictive solutions providing faster data processing and enhanced flexibility in business operations is expected to drive the global market for predictive analytics.

The outbreak of the COVID-19 pandemic in early 2020, has positively influenced the market for predictive analytics. Several businesses are getting inclined towards predictive analytics to study the pandemic effect on consumer behavior, products and pricing, and supply chains, thereby creating workforce, production, and service-based business strategies, accordingly. Additionally, the healthcare sector is leveraging predictive analytics to evaluate pandemic risks, estimated number of infected cases, and potential impact on the resources. Looking forward, IMARC Group expects the global predictive analytics market to continue its double-digit growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global predictive analytics market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, business function, solution, service, deployment, organization size and end use industry.

Breakup by Business Function:

Marketing
Sales
Finance
Human Resource
Operations
Others

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
Others

Breakup by Service:

Deployment/Installation
Training and Consulting
Support and Maintenance

Breakup by Deployment:

Cloud-based
On-premises

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
Manufacturing
Government and Defense
Energy and Utility
Transport and Logistics
Media and Entertainment
Others

Breakup by Region:

North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being 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. and Altair Engineering Inc.

Key Questions Answered in This Report:

How has the global predictive analytics market performed so far and how will it perform in the coming years?
What is the impact of COVID-19 on global predictive analytics market?
What are the key regional markets?
What is the breakup of the market based on the business function?
What is the breakup of the market based on the solution?
What is the breakup of the market based on the service?
What is the breakup of the market based on the deployment?
What is the breakup of the market based on the organization size?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the market?
What is the structure of the global predictive analytics market and who are the key players?
What is the degree of competition in the market?