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Predictive Analytics Market Size, Share, 2019-2025 | Industry Report

Predictive Analytics Market Analysis Report By Solution, By End Use, By Service, By Deployment, By Enterprise Size And Segment Forecasts From 2019 To 2025

Report ID: MN17613828  |  Published: June 2020  |  No of Pages: 140
Format: Electronic (PDF)  |  Industry: Computing & Technology  |  Publisher: Grand View Research

Industry Insights

The global predictive analytics market size was generated revenue of USD 5.7 billion in 2018. It is expected to witness growth with 23.2% CAGR over the forecasted years, 2019 to 2025. This growth can be associated with surging awareness about the usage of these solutions to predict the future and to develop marketing business strategies to gain higher revenue share in the market.

Several external factors like rising internet usage coupled with the surging means of internet access have increased the data volume. These factors have boosted the demand for internet-based services. Moreover, the rising penetration of connected and integrated technologies has created an opportunity for predictive analytics solution providers to expand their business solutions.

U.S. predictive analytics marketThe rising concept of globalization coupled with the boosting economic growth across various countries has played an important part in the data generation. Owing to this rise in data, several organizations have started hiring data scientists and analysts who can process and analyze the generated data. Thus, with the help of current data, future predictions can be done which will enhance the business growth. These factors are anticipated to drive the demand for predictive analytics in the upcoming years.

The emergence of the e-commerce sector has enhanced shopping experience among consumers. Further, several email campaigns, analyses of customer perception, and social media advertisings are being carried out for improving sales. Moreover, the rising influence of connected devices coupled with the surging focus on real-time data to understand consumer behavior has driven the market for predictive analytics.

Solution Insights

In 2018, the solutions segment of risk analytics held the largest share across the global market. This can be associated to the rising adoption of such solutions to identify the upcoming risks and implementing the measures of risk mitigation. Further, rising data volumes and need for data integration are expected to contribute collectively to the market growth.

The segment of customer analytics is projected to witness the fastest CAGR from 2019 to 2025. This growth can be associated with the increasing usage of such systems across several organizations to understand customer behavior. The insights gained from these solutions are used for implementing several marketing strategies that are expected to drive the demand for such solutions.

Service Insights

The predictive analytics market can be segmented into deployment/installation service, support & maintenance, and training & consulting. The segment of deployment/ installation is anticipated to witness significant growth during the forecasted period, 2019 to 2025. This growth can be associated with the rising deployment of predictive analytics solutions on cloud platforms.

The segment of training & consulting is anticipated to register substantial growth in the upcoming years. This can be associated with its major role in providing adequate technical knowledge to employees about the functioning of predictive analytics solutions.

Enterprise Size Insights

In 2018, large enterprises held the largest share across the global market. This can be associated with the surging usage of these solutions for prediction of future trends as per the availability of historical data.  The insights gained from these predictions can be used for developing business strategies. Further, these solutions also help in gaining a competitive advantage by enhancing the overall performance of an organization.

The segment of small & medium enterprises is expected to witness the highest CAGR during the forecasted years. This can be associated with the rising adoption of technologies like cloud and predictive analytics by several SMEs. Such enterprises make use of these solutions to enhance operational performance, thereby lowering operational costs.

End-use Insights

In 2018, the BFSI segment is anticipated to contribute majorly to the global predictive analytics market. This growth can be attributed to the surging adoption of analytical solutions across the financial sector for regulating the compliance processes. The rising complexity of the regulatory framework has increased the demand for solutions like predictive analytics. Further, factors like capital planning and credit risk management are gaining importance due to regulatory requirements.

The retail & e-commerce segment is expected to witness the highest growth across the global market. This can be attributed to the rising preference of personalized and tailored shopping experience prevailing among the millennial population. Further, rapid advances in technologies like augmented reality, machine learning, and artificial intelligence are projected to drive market growth in the upcoming years.

Deployment Insights

In 2018, the on-premise deployment segment held the largest share across the global market. This can be associated with the rising concerns about cloud infrastructure like privacy, storage, and data security. A majority of organizations have their servers and data centers to carry out effective functioning of external and internal software, the demand for on-premise deployment is expected to grow in the upcoming years.

Asia Pacific predictive analytics market

The cloud deployment segment is anticipated to register the fastest CAGR from 2019 to 2025. This can be attributed to its features like enhanced resource utilization, cost-effectiveness, and fast data processing speed. Also, deployments of such solutions help organizations in operating at remote locations. Moreover, its features like real-time and flexible deployment help in driving business growth across several industrial sectors, thereby boosting demand for such solutions.

Regional Insights

In 2018, North America held the largest share across the global market. This can be attributed to rising technological advancements coupled with the surging presence of key players across the U.S. Moreover, the rising awareness about usage of predictive analytics solutions coupled with their importance in business operations is expected to drive the market growth across this region.

Asia Pacific is anticipated to register the highest CAGR in the upcoming years. This can be associated with the rising deployment of such solutions among several services and solution providers across this region.  Further, surging investments being made across the development of emerging technologies like IoT and Artificial Intelligence are projected to drive the market demand in the upcoming years.

Predictive Analytics Market Share Insights

The key players in this market are SAP ERP; IBM Corporation; Microsoft Corporation; Oracle Corporation; Tableau Software, Inc.; NTT Data Corporation; SAS Institute, Inc.; and Schneider Electric SE. These players are engaged in product development and innovation to gain a competitive advantage over other players.

They have also started implementing several inorganic and organic marketing strategies like collaborations, mergers, acquisitions, partnerships, and product launches to widen their global presence. IBM has developed several solutions for implementing predictive analytics across various industrial verticals. It offers a solution named SPSS which can predict future outcomes based on the current scenarios.

These players are also offering cloud-based solutions on account of its low storage cost and enhanced accessibility. For example, Oracle Corporation had launched four solutions in its portfolio that were cloud-based. These solutions are anticipated to drive the growth of digital supply chains across several organizations.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Country Scope

U.S., Canada, Germany, U.K., China, India, Japan, and Brazil

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2014 to 2025 in each of the sub segments. For the purpose of this study, Million Insights has segmented the global predictive analytics market report based on solution, service, deployment, enterprise size, end use, and region:

• Solution Outlook (Revenue, USD Million, 2014 - 2025)
    • Customer Analytics
    • Financial Analytics
    • Marketing & Sales Analytics
    • Network Analytics
    • Risk Analytics
    • Supply Chain Analytics
    • Web & Social Media Analytics
    • Others

• Service Outlook (Revenue, USD Million, 2014 - 2025)
    • Deployment/ Installation
    • Support & Maintenance
    • Training & Consulting

• Deployment Outlook (Revenue, USD Million, 2014 - 2025)
    • Cloud
    • On-premise

• Enterprise Size Outlook (Revenue, USD Million, 2014 - 2025)
    • Small & Medium Enterprises
    • Large Enterprises

• End-use Outlook (Revenue, USD Million, 2014 - 2025)
    • Aerospace & Defense
    • Automotive & Transportation
    • BFSI
    • Healthcare
    • IT & Telecommunication
    • Media & Entertainment
    • Retail & Ecommerce
    • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • Middle East& Africa

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