Predictive Analytics Market Growth, Scope, Trends Analysis and Forecast By 2027

Posted on 3 April, 2023 by Joseph Finch

Predictive Analytics Market Overview

Predictive analytics is an advanced analytical tool that predicts the likelihood of future events by analyzing current and historical data. It utilizes various statistical techniques to analyze data, such as machine learning (ML), data mining, artificial intelligence (AI), and big data. Predictive analytics help organizations in reducing financial risks, improving marketing campaigns, detecting frauds, providing a better customer experience, and enhancing business efficiency. Consequently, it is witnessing huge adoption across the telecom, healthcare, IT, retail, manufacturing, transportation, government, energy, media, and entertainment industries. 

The global predictive analytics market is expected to exhibit a CAGR of 22.1% during 2022-2027. Looking forward, IMARC Group expects the global predictive analytics market to continue its robust growth during the forecast period (2022-2027).

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Predictive Analytics Market Trends:

The rising demand for predictive insights to enhance decision-making in real-time and deploy robust business strategies is primarily driving the market growth. This is further supported by rapid industrial automation and the advent of advanced technologies, which, in turn, have surged the adoption of the solution. Additionally, the significant expansion of the e-commerce sector has escalated the demand for predictive analysis to deploy supply chain analytics on a real-time basis, which is acting as another growth-inducing factor. Apart from this, the shifting inclination of online retailers toward customer analytics solutions and the increasing deployment of cloud-based predictive solutions are propelling the market growth. Besides this, the rising digitalization across the baking, financial services, and insurance (BFSI) sector to enhance the regulatory compliance processes, such as capital planning and insurance risk management, is providing an impetus to the market growth.

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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.

Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined with some of the key players.

• 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.
• Altair Engineering Inc

Key Market Segmentation:

The report has categorized the market based on 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)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)

Key highlights of the report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

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

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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