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New York, March 19, 2023 (GLOBE NEWSWIRE) -- ThePredictive Analytics Market report by Reports Insights reveals that the market generated a revenue of USD 13.5 billion in 2022and is anticipated to achieve USD 44.3 billion by 2030, displaying a CAGR of 18.5%. The report highlights the surging deployment of predictive analytics solutions across diverse industries and the mounting requirement for data-driven decision-making approaches.

Predictive Analytics Market Size, Share & Trends Analysis, By Solutions (Solution and Services), Deployment Type (On-Premise and Cloud), Enterprise Size (Small & Medium Enterprises, Large Enterprises), End-Use (Aerospace & Defense, Automotive & Transportation, BFSI, Healthcare, IT & Telecommunication, Media & Entertainment, Retail & E-commerce, Others), By Region and Segment, Forecast Period 2023 2030.

ReportsInsights Consulting Pvt. Ltd. has provided a detailed research report on the predictive analytics market, which takes into account various aspects such as market trends, value and supply chain, size, and regulatory environment. The report also analyzes the latest developments and growth opportunities in significant segments, including component, deployment type, enterprise size, end-use, and region. These factors are critical for market players to strengthen their competitiveness through mergers and acquisitions, strategic partnerships, and innovative product launches to bolster their market standing and keep up with evolving advancements in technologies.

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Predictive Analytics MarketGrowth Drivers:

Restraints

Competitive Landscape

As per the research, the major players in the predictive analytics market include IBM Corporation, Oracle Corporation, SAP SE, SAS Institute, Inc., Microsoft Corporation, Cloud Software Group, Inc., and Siemens. These companies offer various predictive analytics solutions, such as data mining, machine learning, and forecasting, and others to cater to the increasing demand for predictive analytics tools. The market is divided into two categories: pure-play vendors and full-suite vendors. Pure-play vendors specialize in predictive analytics and offer solutions that are specifically designed for this purpose. However, full-suite vendors provide a range of analytics solutions, including predictive analytics, as part of a larger suite of products.

Recent Developments:

In October 2022, Informatica, a frontrunner in enterprise cloud data management, was announced as one of the initial partners of Microsoft Intelligent Data Platform Partner Ecosystem. The introduction of such ecosystem was revealed by Microsoft at Microsoft Ignite 2022 event, and reflects the commitment of both companies towards supporting businesses in effectively leveraging AI with secure and well-managed data.

In October 2022, Google announced a range of innovations in AI and ML, data analytics and security at Google Cloud Next 2022. Google's objective was to offer a data cloud that is highly adaptable, accessible, and resilient that enables businesses to utilize their data from various sources, storage formats, and analytics techniques across different cloud providers and platforms that suit their preferences.

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Predictive Analytics MarketSnapshot :-

Asia-Pacific[China, Japan, India, Southeast Asia, Korea, Western Asia]

South America[Brazil, Argentina, Columbia, Chile, Peru]

Europe[Germany, UK, Turkey, Spain, France, Italy, Russia, Netherlands, Switzerland]

Middle East & Africa[GCC, North Africa, South Africa]

Governments are also promoting the adoption of predictive analytics in various industries. For instance, the US government launched several initiatives to promote the use of big data and advanced analytics in healthcare and other sectors. This is expected to drive the demand for predictive analytics solutions in the coming years.

Growing adoption of cloud-based data warehouses for predictive analytics will push the market statistics in upcoming years. For instance, two of the worlds largest cloud service providers (Amazon and Google) offer a minimum up-time of more than 99.95%. Amazon for EC2 Servers and Google for Cloud Storage and BigQuery.

The vast amounts of data generated by digital technologies, social media, and the internet of things (IoT) will also create large pools of data that is used to train predictive models.

Rising usage of predictive analytics in new and innovative ways such as fraud detection, supply chain optimization, and predictive maintenance will create favorable opportunities for the demand for such technologies.

Increased importance of real-time for organizations to make quick decisions based on rapidly changing data will push the statistics of predictive analytics solutions and services to respond and address rapid changes in business environment.

The availability of powerful computing resources, and big data analytics tools even as open-source software and cloud-based analytics platforms will create lucrative opportunities for market growth in terms of more accessibility and affordability for predictive analytics.

Key Market Takeaways

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List of Major Predictive Analytics Market Players

Cloud Software Group, Inc.

Microsoft Corporation

Google Cloud

Augury Inc.

CFD Research Corporation

Oracle

SAS Institute Inc.

Siemens

IBM

ALTERYX, INC.

Axtria

Global Predictive Analytics Market Segmentation:

Key Questions Covered in the Predictive Analytics Market Report

What is the current size of predictive analytics market?

What is the expected CAGR of global market of predictive analytics from 2023 to 2030?

What factors drive the predictive analytics market growth?

Which region is expected to boost the market statistics in terms of value and volume?

Which major players function in the current market circumstances?

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Predictive Analytics Market to Exceed US$44.3 Billion By 2030, In ... - GlobeNewswire