Global Predictive Analytics Market (2020 to 2025) – Advent of Machine Learning and Artificial Intelligence is Driving Growth – PRNewswire

DUBLIN, Nov. 3, 2020 /PRNewswire/ -- The "Predictive Analytics Market by Solution (Financial Analytics, Risk Analytics, Marketing Analytics, Web & Social Media Analytics, Network Analytics), Service, Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global predictive analytics market size to grow from USD 7.2 billion in 2020 to USD 21.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 24.5% during the forecast period.

Various factors such as the growing focus on digital transformation, rise adoption of big data and AI and ML technologies, increasing focus on remote monitoring in support of the COVID-19 pandemic, and the need to forecast possible future financial scenarios to answer specific business questions are expected to drive the adoption of the predictive analytics market. The objective of the report is to define, describe, and forecast the predictive analytics market size based on component, organization size, deployment mode, vertical, and region.

The spread of COVID-19 has generated a massive disruption in daily activities. It has forced people to follow social distancing policies, temporarily suspend many business activities, and limit travel. Under such circumstances, the healthcare vertical has emerged as the biggest user of big data and predictive analytics to understand the virus and its spread. Predictive modeling has provided organizations with transportation fleets to create future business insights with a significant degree of accuracy. Predictive analytics companies are witnessing a slowdown in their growth, owing to the lockdowns imposed worldwide.

Healthcare and life sciences and BFSI verticals have been least impacted by the COVID-19 and are continuing the adoption of predictive analytics solutions. The healthcare vertical has sought to use big data and predictive analytics tools to better understand the virus and its spread. Predictive analytics has helped researchers around the world to build predictive analytics models that can track COVID-19 surges in different countries. The competition among key predictive analytics companies is expected to intensify as most upcoming analytics projects have been put on hold owing to the pandemic. Businesses have already started making efforts to return to the normal and are facing multiple challenges at customer and operational levels. New practices, such as work-from-home and social distancing, have led to the requirement of remote health monitoring of patients and assets and smart payment technologies, as well as the development of digital infrastructures for large-scale technology deployments.

The services segment to grow at a higher CAGR during the forecast period

The predictive analytics market is segmented on the basis of components, such as solutions and services. The services segment is expected to grow at a rapid pace during the forecast period. Factors such as pre-sales and post-sales support and the lack of technical skills and capabilities needed for assistance during the up-gradation of software drive the adoption of predictive analytics services.

The risk analytics solution segment to have the largest market size during the forecast period

The Predictive analytics market by solution has been segmented into financial analytics, risk analytics, marketing analytics, sales analytics, customer analytics, web and social media analytics, supply chain analytics, network analytics, and others (HR analytics and legal analytics). The risk analytics solution in predictive analytics facilitates enterprises to establish a baseline for measuring risks across verticals, such as BFSI, healthcare, and life sciences, and retail and eCommerce, by incorporating all the facets of risks together into a single unified system that provides key decision-makers with adequate clarity in identifying, viewing, understanding, and managing risks leading to its adoption in the predictive analytics market.

The BFSI segment to grow to have the largest market size during the forecast period

The predictive analytics market by vertical has been segmented into BFSI, retail and eCommerce, manufacturing, government and defense, healthcare and life sciences, energy and utilities, transportation and logistics, telecommunications and IT, and others(media and entertainment, travel and hospitality, and education). BFSI vertical is expected to register the largest market size during the forecast period due to significant financial data's sensitivity and need to coordinate with numerous other sectors, including stock exchanges, tax authorities, central banks, securities controlling authorities, and revenue departments. The emergence of predictive analytics in finance has necessitated the development of predictive analytics solutions capable of handling it in real-time.

Among regions, Asia Pacific (APAC) to grow at the highest CAGR during the forecast period

APAC is expected to grow at the highest CAGR during the forecast period. The increasing investments by the tech companies in major APAC countries, such as China, and Japan, increasing the increasing adoption of AI and deep learning algorithms are expected to drive the growth of the market in APAC. Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights4.1 Attractive Opportunities in Predictive Analytics Market4.2 Market, by Solution4.3 Market, by Region4.4 Market, by Solution and Vertical

5 Market Overview and Industry Trends5.1 Introduction5.2 Market Dynamics5.2.1 Drivers5.2.1.1 Rising Adoption of Big Data and Other Related Technologies5.2.1.2 Advent of Machine Learning and Artificial Intelligence5.2.1.3 Cost Benefits of Cloud-Based Predictive Analytics Solutions5.2.2 Restraints5.2.2.1 Changing Regional Data Regulations Leading to the Time-Consuming Restructuring of Predictive Models5.2.3 Opportunities5.2.3.1 Rising Internet Proliferation and Growing Usage of Connected and Integrated Technologies5.2.3.2 Increasing Demand for Real-Time Streaming Analytics Solutions to Track and Monitor the COVID-19 Spread5.2.4 Challenges5.2.4.1 Growing Demand for Diversified Data Models Based on Business Needs5.2.4.2 Ownership and Privacy of Collected Data5.2.5 Cumulative Growth Analysis5.3 Impact of COVID-19 on the Predictive Analytics Market5.4 Predictive Analytics: Evolution5.5 Predictive Analytics: Ecosystem5.6 Case Study Analysis5.7 Patent Analysis5.8 Value Chain Analysis5.9 Technology Analysis5.10 Pricing Analysis5.11 Regulatory Implications

6 Predictive Analytics Market, by Component6.1 Introduction6.1.1 Components: Market Drivers6.1.2 Components: COVID-19 Impact6.2 Solutions6.2.1 Financial Analytics6.2.1.1 Fraud Detection6.2.1.2 Profitability Management6.2.1.3 Governance, Risk, and Compliance Management6.2.1.4 Others6.2.2 Risk Analytics6.2.2.1 Cyber Risk Management6.2.2.2 Operational Risk Management6.2.2.3 Credit and Market Risk Management6.2.2.4 Others6.2.3 Marketing Analytics6.2.3.1 Predictive Modelling6.2.3.2 Yield Management6.2.3.3 Product and Service Development Strategies6.2.3.4 Others6.2.4 Sales Analytics6.2.4.1 Sales Life Cycle Management6.2.4.2 Sales Rep Efficiency Management6.2.4.3 Others6.2.5 Customer Analytics6.2.5.1 Customer Segmentation and Clustering6.2.5.2 Customer Behavior Analysis6.2.5.3 Monitoring Customer Loyalty and Satisfaction6.2.5.4 Others6.2.6 Web and Social Media Analytics6.2.6.1 Social Media Management6.2.6.2 Search Engine Optimization6.2.6.3 Performance Monitoring6.2.6.4 Competitor Benchmarking6.2.7 Supply Chain Analytics6.2.7.1 Distribution and Logistics Optimization6.2.7.2 Inventory Management6.2.7.3 Manufacturing Analysis6.2.7.4 Others6.2.8 Network Analytics6.2.8.1 Intelligent Network Optimization6.2.8.2 Traffic Management6.2.8.3 Others6.2.9 Others6.3 Services6.3.1 Managed Services6.3.2 Professional Services6.3.2.1 Consulting6.3.2.2 Deployment and Integration

7 Predictive Analytics Market, by Deployment Mode7.1 Introduction7.1.1 Deployment Mode: Market Drivers7.1.2 Deployment Mode: COVID-19 Impact7.2 Cloud7.3 On-Premises

8 Predictive Analytics Market, by Organization Size8.1 Introduction8.1.1 Organization Size: Market Drivers8.1.2 Organization Size: COVID-19 Impact8.2 Large Enterprises8.3 Small and Medium-Sized Enterprises

9 Predictive Analytics Market, by Vertical9.1 Introduction9.1.1 Vertical: Market Drivers9.1.2 Vertical: COVID-19 Impact9.2 Predictive Analytics: Enterprise Use Cases9.3 Banking, Financial Services, and Insurance9.4 Telecommunications and It9.5 Retail and Ecommerce9.6 Healthcare and Life Sciences9.7 Manufacturing9.8 Government and Defense9.9 Energy and Utilities9.10 Transportation and Logistics9.11 Others

10 Predictive Analytics Market, by Region10.1 Introduction10.2 North America10.3 Europe10.4 Asia-Pacific10.5 Middle East and Africa10.6 Latin America

11 Competitive Landscape11.1 Overview11.2 Market Evaluation Framework11.3 Market Share, 202011.4 Historic Revenue Analysis of Key Market Players11.5 Key Market Developments11.5.1 New Product Launches and Product Enhancements11.5.2 Business Expansions11.5.3 Mergers and Acquisitions11.5.4 Partnerships, Agreements, Contracts, and Collaborations

12 Company Evaluation Matrix and Company Profiles12.1 Overview12.2 Company Evaluation Matrix Definitions and Methodology12.2.1 Market Ranking Analysis, by Company12.3 Company Evaluation Matrix, 202012.3.1 Star12.3.2 Emerging Leaders12.3.3 Pervasive12.3.4 Participant12.4 Company Profiles12.4.1 Introduction12.4.2 Microsoft12.4.3 IBM12.4.4 Oracle12.4.5 SAP12.4.6 SAS Institute12.4.7 Google12.4.8 Salesforce12.4.9 Aws12.4.10 Hpe12.4.11 Teradata12.4.12 Alteryx12.4.13 Fair Issac Corporation12.4.14 Altair12.4.15 Domo12.4.16 Cloudera12.4.17 Board International12.4.18 Tibco Software12.4.19 Hitachi Vantara12.4.20 Happiest Minds12.4.21 Dataiku12.4.22 Rapidminer12.4.23 Qlik12.4.24 IBI12.4.25 Infor12.5 Startup/Sme Evaluation Matrix, 202012.5.1 Progressive Companies12.5.2 Responsive Companies12.5.3 Dynamic Companies12.5.4 Starting Blocks12.6 Startup/Sme Profiles

13 Appendix

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Global Predictive Analytics Market (2020 to 2025) - Advent of Machine Learning and Artificial Intelligence is Driving Growth - PRNewswire

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