Advanced and Predictive Analytics (APA) Software Market is Surging at an Impressive CAGR of 21% Through the end of the decade
Persistence Market Research released a revised report on the global advanced and predictive analytics (APA) software market, and has projected it to be valued at US$ 7 Bn in 2021, surging at an impressive CAGR of 21% through the end of the decade.
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Growth of the APA software market is primarily driven by the implementation of Big Data repositories, such as NewSQL, NoSQL, Hadoop databases and other platforms, to enhance the ability of computing data and business value from APA. Additionally, the shift in preference of business analysts towards becoming data scientists is also contributing in boosting the growth of the global advanced and predictive analytics software market.
Advanced and predictive analytics software is mainly used to discover relationships in data and make predictions that are not apparent, hidden or too complex to be extracted using query, reporting and multidimensional analysis software.
The market is currently witnessing the advent of different APA software with few using its own programming language and algorithms for building models, and rest including scoring engines and model management features that can execute models built using proprietary or open source modelling languages.
The report has profiled some of the Important players prevalent in the global like – International Business Machines Corporation (IBM), SAS Institute Inc., Microsoft Corporation, SAP AG, Tableau Software Inc., Information Builders, Inc., Fair Isaac Corporation (FICO), Teradata Corporation, Oracle Corporation, Acxiom Corporation, and TIBCO Software Inc and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Advanced Predictive Analytics Software.
The future outlook of the global advanced and predictive analytics software market is characterized by cloud analytics, real-time analytics, persuasion modelling and ensemble modelling.
On the basis of end users, the market is segmented into banking and financial service, insurance, government, public administration and utilities, pharmaceuticals, telecom and IT, retail, transportation and logistics, healthcare, manufacturing, media and entertainment, energy (oil, gas and electricity), engineering and construction, tourism and sports.
Among these, BFSI and retail are the most dominant sectors and are expected to continue the adoption of advanced and predictive analytics software over the next decade. Additionally, with increasing data from multiple sources, other sectors, including manufacturing, education and healthcare, are also expected to witness traction in the adoption of the APA software in the near future.
Rise in adoption of advanced and predictive analytics software in these sectors is attributed to the advantages it offers, such as loading and analysis of massive amounts of data in real time to accelerate ad hoc queries and reports, detecting fraud, remaining compliant and developing models to reduce cost & improve service quality.
This report also covers trends driving each market segment and offers analysis and insights on the potential of the advanced and predictive analytics software market in some of the key regions, including North America, Latin America, Eastern Europe, Western Europe, Asia Pacific (excluding Japan), Japan, and the Middle East & Africa.
Among these regions, the North American market is expected to amount for 46.3% of the global share in 2021, thereby accounting for the significant revenue share of the market, owing to the wide adoption of business intelligence solutions across diverse application segments in the region.
The Asia Pacific market is expected to advance with countries such as India, China, Japan, South Korea, Singapore and Philippines driving the adoption of APA solutions in the region. The growth across these countries is primarily driven by several leading players, which are setting up their offices in this region with a view to expanding their operations.
Also, growing Internet-based business models and application of Internet solutions in the traditional business models of enterprises is expected to create potential growth opportunities for players in the advanced and predictive analytics software market during the forecast period.
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View Table of Content@ https://www.persistencemarketresearch.com/market-research/advanced-predictive-analytics-software-market/toc
Major Highlights of the Advanced Predictive Analytics Software Market Report:
The Advanced Predictive Analytics Software Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
The report dives deeper into the market and explains the dynamic factors bolstering market growth.
The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
The report analyzes the Advanced Predictive Analytics Software Market presence across major regions of the world.
It determines the production & consumption capacities and demand & supply dynamics of each regional market.
The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
It provides company overview and SWOT analysis of each of the market players.
Key Questions Answered in This Report.
What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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