Predictive Analytics Market Size, Share | Industry Report – 2029

 

Predictive Analytics Market

Predictive Analytics Market reached USD 10.1 billion in 2021 and is estimated to touch USD 43.7 billion in 2029, the market is expected to grow at a higher CAGR of 20.1% from 2022-2029

The factors driving growth of the Predictive Analytics Market includes increasing internet penetration rates around the world, growing volumes of data generated by companies, proliferation of connected devices, rising use of predictive analytics solutions across end-use industries such as BFSI, energy and manufacturing and improvements in the living standards. For instance, the number of internet users across Indonesia were estimated around 201 million in 2021 and is expected to reach 239 million by the end of 2026, which will accelerate the Predictive Analytics Market size in the approaching years. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT) and Big Data analytics, increasing application of predictive analytics solutions to detect fraud, optimize market campaigns and reduce risk, and rapid urbanization, are some of the additional factors supplementing the Predictive Analytics Market share. In addition, the increasing investments by leading players on research and development, strategic partnerships between corporations, rise in the launch of innovative products and growing population growth rates, are further propelling the Predictive Analytics Market Growth.

However, growth of the Predictive Analytics Market is hindered due to insufficient availability of skilled workforce.

The prominent players operating in the market are Oracle, Hewlett Packard Enterprise Development LP, Amazon Web Services, Inc., IBM, Microsoft, SAS Institute Inc., Salesforce.com, Inc., SAP, Google, and Teradata, among others.

Based on Deployment Mode, the On-Premises segment is predicted to capture the largest market share during the forecast period

On-premises based deployment is increasingly adopted in semiconductor industry owing to its remarkable features such as enhanced data security, storage, and privacy, is propelling growth of the segment.

Based on Organization Size, the Large Enterprises segment is projected to expand at a significant CAGR over the forecast period

Predictive analytics solutions are increasingly used by large enterprises to enhance the delivery time of the services & products and analyzing huge volumes of data, are pushing growth of the segment.

Based on Region, the Asia-Pacific region is anticipated to grow at a remarkable CAGR during the forecast period

As per the Predictive Analytics Market Research, increasing number of internet users across India, China and Australia, growing adoption of advanced technologies by manufactures, rapid industrialization, rising per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region.

Key Developments

  • In 2021, Teradata partnered with Tesco PLC is to integrate Vantage into its data platform. Tesco might use Vantage to eradicate silos and query all their data in real time, regardless of whether it is in the cloud, multiple clouds, on-premises, or any mix thereof, to gain a comprehensive view of their business.
  • In 2020, Hewlett Packard Enterprise Development LP developed HPE Ezmeral, a new software portfolio, and brand. This portfolio will speed up the data-driven transformation among the organizations.

Market Segmentation

Segmentation by Component

  • Solutions
    • Risk Analytics
    • Financial Analytics
    • Sales Analytics
    • Marketing Analytics
    • Web & Social Media Analytics
    • Customer Analytics
    • Network Analytics
    • Supply Chain Analytics
    • Others
  • Services
    • Professional Services
    • Managed Services

Segmentation by Deployment Mode

  • On-Premises
  • Cloud

Segmentation by Organization Size

  • Small & Medium-Sized Enterprises
  • Large Enterprises

Segmentation by Vertical

  • IT & Telecommunications
  • BFSI
  • Healthcare & Life Sciences
  • Retail & Ecommerce
  • Government & Defense
  • Manufacturing
  • Transportation & Logistics
  • Energy & Utilities
  • Others

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

Location: United States

Comments

Post a Comment

Popular posts from this blog

Seizing the Europe Smart Home Market Opportunity

Image
 The Europe smart home market presents a vast and promising opportunity for businesses and consumers alike. With advancements in technology, changing lifestyles, and increasing awareness about energy efficiency, the smart home industry in Europe is ripe with potential for growth and innovation. The opportunity in the Europe smart home market stems from several key factors. Firstly, the region boasts a large and affluent consumer base that is increasingly embracing connected technology to enhance their lifestyles. From smart thermostats and lighting systems to security cameras and voice-controlled assistants, the demand for smart home devices is on the rise across the continent. Moreover, supportive regulatory initiatives and incentives aimed at promoting energy efficiency and sustainability are creating a conducive environment for the adoption of smart home technology in Europe. Tax incentives, rebates, and subsidies for energy-efficient home upgrades are encouraging homeowners to inv
Read more

Unlocking Opportunities: GCC Medical Packaging Market Growth in 2024

Image
The GCC medical packaging market is poised for substantial growth in 2024, driven by factors such as technological advancements, increasing healthcare spending, and a focus on patient safety. The region's growing population, coupled with rising demand for quality healthcare services, is fueling the expansion of the medical packaging sector. Let's explore the key drivers and opportunities contributing to the growth of the GCC medical packaging market this year. One of the primary drivers of market growth is the continuous innovation in medical packaging technologies. Companies are investing in advanced packaging materials, designs, and functionalities to meet the evolving needs of healthcare providers and patients. Smart packaging solutions equipped with sensors, RFID tags, and tracking capabilities are enhancing product safety, supply chain visibility, and real-time monitoring. This technological progress is driving the adoption of intelligent packaging solutions and fueling m
Read more

Riding the Wave: India Wireless Earphone Market Surges Amidst Growing Demand

Image
 The India Wireless Earphone Market is witnessing remarkable growth, buoyed by an increasing demand for wireless audio solutions and a shift towards a wireless lifestyle. With consumers seeking convenience, mobility, and superior audio quality, wireless earphones have emerged as a must-have accessory in today's digital age, driving significant market expansion. One of the key drivers of growth in the India Wireless Earphone Market is the rising penetration of smartphones and smart devices. With smartphone ownership becoming ubiquitous across urban and rural areas, there is a growing need for wireless earphones that complement these devices seamlessly. As consumers look for hassle-free connectivity and on-the-go audio solutions, the demand for wireless earphones continues to surge, fueling market growth. Moreover, technological advancements in wireless audio technology are driving market expansion. Innovations such as true wireless earbuds, active noise cancellation, and advanced B
Read more