Predictive Analytics Market Size, Share, Growth Analysis, By Service, By Solution, By Deployment Type, By Enterprise Size, By End-User, By Region

Description

Global Predictive Analytics Market size was valued at around USD 14.03 billion in 2022 and is projected to grow from USD 17.12 billion in 2023 to USD 84 billion by 2031 at a CAGR of 19.2% over the forecast period (2024-2031).

Predictive analytics, leveraging automated machine learning and statistical analysis, forecasts future events by analyzing historical and projected data. This technology empowers businesses to anticipate customer needs, gain a competitive edge, and enhance customer experience. The rise of e-commerce, coupled with the proliferation of connected devices, has accelerated the adoption of predictive analytics for real-time consumer behavior analysis and personalized offers. While challenges such as talent scarcity, high implementation costs, and data integrity issues persist, the market is poised for significant growth driven by massive data availability, advanced technologies, and expanding applications across industries.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Pain Management Devices Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Predictive Analytics Market Segmental Analysis

Global predictive analytics market is segmented based on component, deployment type, enterprise size, end-user and region. Based on component the market is segmented into Service (Managed Services and Professional Services [Consulting, Deployment& Installation and Support & Maintenance]), Solution ( Customer analytics [Customer Segmentation & Clustering, Customer Behavior Analysis, Monitoring Customer Loyalty & Satisfaction and Other], Financial Analytics [Fraud detection, Profitability Management, Governance Risk & Compliance Management and Other], Risk Analytics [Cyber risk management, Operational risk management, Credit and market risk management and Other], Marketing Analytics [Predictive Modeling, Yield Management, Product & Service Development Strategies and Other], Sales Analytics [Sales Life Cycle Management, Sales Rep Efficiency Management and Other], Network Analytics[Intelligent Network Optimization, Traffic Management and Other], Supply Chain Analytics [Distribution and logistics optimization, Inventory management, Manufacturing analysis and Other], Web & Social Media Analytics [Social Media Management, Search Engine Optimization, Performance Monitoring and Competitor Benchmarking], and Others). Based on deployment the market is segmented into clouds and on-premises. Based on enterprise size, the market is segmented into small & medium enterprises and large enterprises. Based on end-user, the market is segmented into Government & Defense, Manufacturing, Transportation & Logistics, BFSI, Healthcare & Life science, Travel & Hospitality, Energy & Utilities, IT & Telecommunication, Media & Entertainment, Retail & E-commerce and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Predictive Analytics Market

Strategic collaborations among industry leaders are accelerating the growth of the predictive analytics market. By joining forces with other businesses and research institutions, companies are developing innovative solutions that drive market expansion. Acquisitions, like Altair's purchase of S-FRAME Software in 2021, exemplify this trend, as businesses combine their strengths to create comprehensive predictive analytics platforms.

Restraints in the Global Predictive Analytics Market

A critical challenge facing the predictive analytics market is the scarcity of skilled professionals capable of implementing and operating these complex systems. The demand for individuals possessing strong analytical skills to interpret predictive models and drive actionable insights is high. To address this talent gap, training and consulting services have emerged as rapidly growing market segments.

Market Trends of the Global Predictive Analytics Market

Cloud adoption is a pivotal driver of growth in the predictive analytics market. By offering cost-efficiency, scalability, and reduced risk, cloud computing empowers businesses to harness the full potential of their data. It serves as a foundation for digital transformation, fostering innovation and competitive advantage. With a growing number of organizations recognizing the benefits of cloud-based solutions, the market is poised for significant expansion as businesses migrate their applications and leverage cloud-based predictive analytics platforms.

Product Code: SQMIG45A2063

Introduction

Objectives of the Study
Definitions
Market Scope

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Executive Summary

Market Overview Outlook
Supply Demand Trend Analysis
Segmental Opportunity Analysis

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers

Key Market Insights

Key Success Factors
Degree of Competition
Technology Analysis
Value Chain Analysis
Case Study Analysis
Patent Analysis
Pricing Analysis
Trade Analysis
Top Investment Pockets
Market Attractiveness Index
Market Ecosystem
Case Study

Predictive Analytics Market by Hardware

Market Overview
Service
- Managed Services
- Professional Services
- Consulting, Deployment& Installation
- Support & Maintenance
Solution
- Customer Analytics
- Customer Segmentation & Clustering
- Customer Behaviour Analysis
- Monitoring Customer Loyalty & Satisfaction
- Other
- Financial Analytics
- Fraud Detection
- Profitability Management
- Governance Risk & Compliance Management
- Other
- Risk Analytics
- Cyber Risk Management
- Operational Risk Management
- Credit & Market Risk Management
- Other
- Marketing Analytics
- Predictive Modelling
- Yield Management
- Product & Service Development Strategies
- Other
- Sales Analytics
- Sales Life Cycle Management
- Sales Rep Efficiency Management
- Other
- Network Analytics
- Intelligent Network Optimization
- Traffic Management
- Other
- Supply Chain Analytics
- Distribution and logistics optimization
- Inventory management
- Manufacturing analysis
- Other
- Web & Social Media Analytics
- Social Media Management
- Search Engine Optimization
- Performance Monitoring
- Competitor Benchmarking
- Others

Predictive Analytics Market by Deployment

Market Overview
Cloud
On-Premises

Predictive Analytics Market by Enterprise Size

Market Overview
Small & Medium Enterprises
Large Enterprises

Predictive Analytics Market by End User

Market Overview
Government & Defense
Manufacturing
Transportation & Logistics
BFSI, Healthcare & Life science
Travel & Hospitality
Energy & Utilities
IT & Telecommunication
Media & Entertainment
Retail & E-commerce
Others

Predictive Analytics Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2023
Strategies Adopted by Key Market Players
Recent Activities in the Market
Key Companies Market Share (%), 2023

Key Company Profiles

IBM (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Microsoft (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Oracle (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
SAP (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
SAS Institute (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Google (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Salesforce (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Amazon Web Services (AWS) (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Hewlett Packard Enterprise (HPE) (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Teradata (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Alteryx (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
FICO (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Altair (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Domo (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Cloudera (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Board International (Switzerland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Hitachi Vantara (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Qlik (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Happiest Minds (India)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Dataiku (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Biofourmis (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
In-med Prognostics (India)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Aito.Ai (Finland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Symend (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Onward Health (India)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Unioncrate (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
CyberLabs (Brazil)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Actify Data Labs (India)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Amlgo Labs (India)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Verimos (US)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Predictive Analytics Market Size, Share, Growth Analysis, By Service, By Solution, By Deployment Type, By Enterprise Size, By End-User, By Region - Industry Forecast 2024-2031