Press release
Predictive Analytics Market 2023 Global Key Players, Industry Analysis, Potential Growth, Latest Trends
Predictive Analytics Global Market
The Business Research Company's Predictive Analytics Global Market Report 2023 identifies rising adoption of big data and other related technologies as the major driver for the Predictive Analytics market's growth in the forecast period. The rise in the adoption of big data-related technologies in many industries leads to the innovation of new technology. Some of the new technologies used in predictive analytics are edge computing, streaming analytics, artificial intelligence, in-memory databases, data lakes, and blockchain.
The global predictive analytics market size grew from $11.83 billion in 2022 to $14.72 billion in 2023, at a compound annual growth rate (CAGR) of 24.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The predictive analytics market size is expected to grow to $34.43 billion in 2027 at a CAGR of 23.7%.
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Major competitors in the Predictive Analytics market are IBM, Microsoft, Oracle, SAP, SAS Institute, Google, Salesforce, Alteryx, FICO, AWS, HPE, Teradata, Altair, Domo, Cloudera, Board International
A key trend in the Predictive Analytics market includes Increasing adoption of cloud. Cloud adoption is an important move by organizations for reducing cost, mitigate risk, and to achieve scalability of database capabilities. Cloud adoption is everywhere in the business world acts as a crucial pipeline in digital empowerment, bringing innovation and growth for an enterprise, cloud strategies provide a platform to act as a storage hub and deliver computation.
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The Predictive Analytics market is segmented -
1) By Component: Solutions, Services
2) By Deployment Mode: Cloud, On-Premises
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By Vertical: BFSI, Manufacturing, Retail And Ecommerce, Government And Defense, Healthcare And Life Sciences, Energy And Utilities, Telecommunications And IT, Transportation And Logistics, Media And Entertainment, Travel And Hospitality
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Predictive Analytics market.
The Business Research Company's "Global Predictive Analytics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Predictive Analytics Market Include:
1. Executive Summary
2. Predictive Analytics Market Characteristics
3. Predictive Analytics Market Trends And Strategies
4. Predictive Analytics Market - Macro Economic Scenario
5. Predictive Analytics Market Size And Growth
……
27. Predictive Analytics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Predictive Analytics Market
29. Predictive Analytics Market Future Outlook and Potential Analysis
30. Appendix
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