Predictive Analytics Market - Strategic Imperatives for Success and Rising Demand Till 2027

Rise in adoption of predictive modeling tools & big data technologies and several initiatives by governments to support big data infrastructure drive the growth of the global predictive analytics market.

On the other hand, high implementation cost and lack of skilled workforce impede the growth. Nevertheless, emergence of IoT and AI technologies is expected to create multiple opportunities for the key players in the industry.

Download Free sample report at: https://www.alliedmarketresearch.com/request-sample/1132

According to the report, the global predictive analytics industry was estimated at $7.32 billion in 2019, and is expected to hit $35.45 billion by 2027, registering a CAGR of 21.9% from 2020 to 2027.

Based on industry vertical, the BFSI segment contributed to more than one-fifth of the global predictive analytics market revenue in 2019 and is projected to retain its dominance during the study period.

This is attributed to high deployment of predictive analytics for risk management, fraud detection, customer management, customized solutions, and others.

For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/1132

Simultaneously, the healthcare segment would manifest the fastest CAGR of 24.8% from 2020 to 2027. This is due to increase in use of predictive analytics for developing precision medicine, predicting virus spread, and managing the supply chain.

Based on component, the solution segment accounted for nearly two-thirds of the global predictive analytics market share in 2019 and is expected to rule the roost by 2027.

Increase in need to optimize marketing campaigns, improvement in operations to better manage inventory and other resources, and reduce business risks drive the growth of the segment.

Access the full summary at: https://www.alliedmarketresearch.com/predictive-analytics-market

The services segment, on the other hand, would portray the fastest CAGR of 23.8% throughout the forecast period. This is due to its adoption to ensure effective functioning of software and platforms throughout the predictive analysis process.

Based on geography, North America held the major share in 2019, generating nearly two-fifths of the global predictive analytics market. North America serves as a lucrative market for new technologies and services, as this province exhibits high investment capabilities Simultaneously, Asia-Pacific would portray the fastest CAGR of 24.9% till 2027. This is due to increase in adoption of advanced analytics across multiple industries in the region.

If you have any special requirements, please let us know: https://www.alliedmarketresearch.com/request-for-customization/1132

The key players operating in the global predictive analytics industry include Alteryx, Inc., Fair Isaac Corporation, Information Builders, International Business Machines Corporation, KNIME, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., and TIBCO Solution Inc. This study includes market trends, predictive analytics market analysis, and future estimations to determine the imminent investment pockets.

Covid-19 scenario

• In the midst of the outbreak, the healthcare industry has happened to utilize predictive analytics tools to better understand the virus and its spread which, in turn, has boosted the market growth.

• However, there has been dearth of skilled IT professionals during lockdown which, in turn, has curbed the growth to some extent.

Buy This Research Report at: https://www.alliedmarketresearch.com/checkout-final/a3e33c5638863a261330ff1d0756bdf7

Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.

This release was published on openPR.