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Report Scope & Overview:

The Predictive Analytics Market size was valued at USD 13.88 Bn in 2022 and is expected to reach USD 67.64 Bn by 2030, and grow at a CAGR of 21.89% over the forecast period 2023-2030.

In the calculative approach of predictive analytics, past as well as future behavior and patterns are examined. Several techniques, including automated machine learning algorithms and statistical analysis, are used to administrate these analytics. In order to be prepared to develop predictive models, several procedures are applied. The probability or likelihood of an event occurring may then be calculated (quantitatively) using these models. Predictive analytics software analyses and measures the likelihood of customer, machine, and other behavior using the available factors.

Predictive Analytics Market Revenue Analysis

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The forecast would allow businesses to prepare in advance for the specific demands of the customers. Using consumer forecasts to create goods that provide different businesses a competitive edge. This technology will completely replace the outdated practice of businesses basing product development on market research before soliciting customer input. Businesses all around the world are well aware of the importance of customer delight in preserving long-term client relationships.

MARKET DYNAMICS:

KEY DRIVERS:

  • Increasing use of big data and associated technologies.

  • The arrival of artificial intelligence and machine learning.

  • Cloud-based predictive analytics solutions have lower costs.

RESTRAINTS:

  • Time-consuming redesign of prediction models due to a change in area data requirements.

  • concerns about data security.

OPPORTUNITY:

  • Growing use of linked and integrated technology and expanding internet usage.

  • Predictive analytics is playing a larger role in attaining industrial excellence.

CHALLENGES:

  • Data integration from data silos.

  • ownership and confidentiality of data gathered.

IMPACT OF COVID-19:

A rush of innovations has been sparked by COVID-19, and technical developments have improved the prognosis for the predictive analytics market globally. Predictive analytics adoption has accelerated because to COVID-19; instead of taking years to deploy, it now happens within months. Stakeholders are making money by tracking COVID-19 immunization rates, for example, using prediction algorithms. Predictive analytics is being impacted by the epidemic because stakeholders are demanding real-time supply chain information. Despite the outbreak's unavoidable difficulties, the healthcare industry has been fast to use big data analytics. The demand for big data in healthcare applications has increased the demand for predictive analytics.

MARKET ESTIMATION:

Professional services and managed services are two further divisions of the services market. These services are handled by solution and service providers and are a necessary step in adopting a predictive analytics system. Due to a growth in clients' individualized needs, there will likely be an increase in the demand for professional services. In order to improve overall performance, customers are requesting customizations for predictive analytics solutions that have previously been implemented. Enhancing real-time insights for precise alert systems, strengthening security precautions, enhancing digital Customer Experience (CX), and having the capacity to get the most out of the growing company data are among the customization needs. It is anticipated that the increasing use of predictive analytics solutions would increase demand for managed and professional services.

According to projections, the on-premises market will rule the whole world. Data security, storage, and privacy issues related to cloud infrastructure might be blamed for the segment's expansion. Additionally, many top firms throughout the world have traditionally chosen to employ predictive analytics systems on-premise. But during the foreseeable period, the cloud category is anticipated to have the greatest CAGR. The cost-effectiveness, efficient resource usage, quicker data processing, and direct IT control benefits attained by cloud models are the main causes of the cloud segment's rapid growth rate. Additionally, enterprises may operate remotely thanks to the implementation of these solutions in the cloud.

In 2021, big businesses ruled the world market. These businesses are employing predictive analytics solutions more frequently to forecast future trends using current historical data. Large businesses are also creating their long-term business plans based on forecasted results. The sector for small and medium-sized businesses is anticipated to have the greatest CAGR between 2022 and 2028. Small- and medium-sized businesses are dramatically boosting their use of cloud computing and predictive analytics, which is boosting the segment's development. These businesses need predictive analytics solutions to improve operational performance while lowering overall operating expenses.

According to estimates, the BFSI industry will significantly contribute to the expansion of the predictive analytics market. Due to improved regulatory compliance procedures, major businesses in the BFSI sector are increasingly adopting advanced financial analytics solutions. Additionally, BFSI organizations are undergoing a digital transformation thanks to the use of predictive analytics technologies. It provides a better customer experience and aids in adjusting to shifting consumer behavior. The worldwide market is expected to develop fastest in the retail and e-commerce segment. Predictive analytics solutions are in high demand in the retail and e-commerce sectors due to consumer preferences for a customized and personalized purchasing experience. In addition, the market is anticipated to rise as a result of developments in technologies like artificial intelligence (AI), augmented reality (AR), and machine learning.

KEY MARKET SEGMENTS:

On The Basis of Component

  • Solution

  • Services

On The Basis of Deployment

  • On-premise

  • Cloud

On The Basis of Enterprise Size

  • Large Enterprises

  • Small & Medium Enterprises

On The Basis of Industry Vertical

  • BFSI

  • Retail

  • IT & Telecom

  • Healthcare

  • Government

  • Manufacturing

  • Others

Predictive Analytics Market Segmentation Analysis

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REGIONAL ANALYSIS:

It has been noted that the predictive market has acquired a certain significant rise throughout the predictive analytics market projection term. North America, some of Europe, Asia Pacific, and a few more places across the world have all been added to the market's geographic reach. The North American continent has been noted for dominating the whole planet. According to the latest technical advancements, several of the market's rivals are attempting to introduce specific solutions. Where genuine government support has been placed on certain small businesses, the Asia Pacific area has been identified as the fastest growing marketing category.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

The major key players are Alteryx, Inc., Fair Isaac Corporation, Information Builders, International Business Machines Corporation, KNIME, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., TIBCO Software Inc.and Other Players

Fair Isaac Corporation - Company Financial Analysis

Predictive Analytics Market Report Scope:
Report Attributes Details
 Market Size in 2022  US$ 13.88 Bn
 Market Size by 2030  US$ 67.64 Bn
 CAGR   CAGR of 21.89% From 2023 to 2030
 Base Year  2022
 Forecast Period  2023-2030
 Historical Data  2020-2021
 Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
 Key Segments • By Component (Solution and Services)
• By Deployment (On-premise and Cloud)
• By Enterprise Size (Large Enterprises and Small & Medium Enterprises)
• By Industry Vertical (BFSI, Retail, IT & Telecom, Healthcare, Government, Manufacturing, Others)
 Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
 Company Profiles Alteryx, Inc., Fair Isaac Corporation, Information Builders, International Business Machines Corporation, KNIME, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., and TIBCO Software Inc.
 Key Drivers • Increasing use of big data and associated technologies
• The arrival of artificial intelligence and machine learning
 Market Challenges • Data integration from data silos
• Ownership and confidentiality of data gathered

 

Frequently Asked Questions

Ans: - The Predictive Analytics market size was valued at USD 13.88 Bn in 2022.

Ans: - Increasing use of big data and associated technologies and the arrival of artificial intelligence and machine learning.

Ans: - The North American continent has been noted for dominating the whole planet.

Ans: - The major key players are Alteryx, Inc., Fair Isaac Corporation, Information Builders, International Business Machines Corporation, KNIME, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., and TIBCO Software Inc.

Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7. PEST Analysis

 

8. Predictive Analytics Market Segmentation, by Component

8.1 Solution

8.2 Services

 

9. Predictive AnalyticsMarket Segmentation, by Deployment

9.1 On-premise

9.2 Cloud

10. Predictive AnalyticsMarket Segmentation, by Enterprise Size

10.1 Large Enterprises

10.2 Small & Medium Enterprises

11. Predictive Analytics Market Segmentation, by Industry Vertical

11.1 BFSI

11.2 Retail

11.3 IT & Telecom

11.4 Healthcare

11.5 Government

11.6 Manufacturing

11.7 Others

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Rest of Latin America

13. Company Profiles

13.1 Alteryx, Inc.

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 Fair Isaac Corporation

13.3 Information Builders

13.4 International Business Machines Corporation

13.5 KNIME

13.6 Microsoft Corporation

13.7 Oracle Corporation

13.8 SAP SE

13.9 SAS Institute Inc

13.10 TIBCO Software Inc.

14. Competitive Landscape

14.1 Competitive Benchmarking

14.2 Market Share Analysis

14.3 Recent Developments

15. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

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