Empowering Decisions: Predictive Analytics in Banking Market to Hit $5.43 Billion by 2026 with 20.8% CAGR

Allied Market Research published a report, titled, "Predictive Analytics in Banking Market By Component (Solution and Service), Deployment Model (On-Premise and Cloud), Organization Size (Large Enterprise and SME), Application (Fraud Detection and Prevention, Customer Management, Sales and Marketing, Workforce Management and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026."

➡️𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂 : https://www.alliedmarketresearch.com/request-sample/232

According to the report, global predictive analytics in the banking market garnered $1.20 billion in 2018 and is expected to generate $5.43 billion by 2026, growing at a CAGR of 20.8% from 2019 to 2026.

Drivers, Restraints and Opportunities

The availability of billions of IoT-based devices worldwide, the surge in fraudulent activities including money laundering, accounting fraud, and payment card fraud, and the ability to predict the incoming and outgoing flow of property payments and customers drive the growth of the global predictive analytics in the banking market. However, concerns related to implementation and integration in banks and financial institutions restrain the market growth. On the other hand, the surge in demand for developing economies and the implementation of artificial intelligence (AI) in mobile banking apps create new opportunities in coming years.

The On-Premise Segment to Retain Its Dominant Position Throughout the Forecast Period
Based on the deployment model, the on-premise segment contributed to the largest market share in 2018, holding nearly three-fifths of the global predictive analytics in the banking market, and is expected to retain its dominant position throughout the forecast period. This is attributed to the rapid delivery of predictive insights by lowering errors with automated techniques and quality measures. However, the cloud segment is estimated to portray the highest CAGR of 22.6% from 2019 to 2026, owing to less dependency of an organization on IT resources by adopting the cloud.

The Customer Management Segment to Maintain Its Highest Share By 2026
Based on application, the customer management segment held the highest market share of global predictive analytics in the banking market, contributing to more than one-third of the total share in 2018, and is estimated to maintain its highest share by 2026. This is attributed to the increase in the need for customer management in the banking sector. However, the fraud detection & prevention segment is estimated to register the highest CAGR of 24.9% from 2019 to 2026, owing to a rise in several transactions in banking and financial institutions.

➡️𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐖𝐞 𝐨𝐟𝐟𝐞𝐫 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐬 𝐩𝐞𝐫 𝐲𝐨𝐮𝐫 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭: https://www.alliedmarketresearch.com/purchase-enquiry/232

North America to Maintain Its Lead Status during the Forecast Period
Based on region, North America held the highest market share in terms of revenue in 2018, accounting for nearly two-fifths of the global predictive analytics in the banking market, and is expected to maintain its lead status during the forecast period. This is due to stringent regulatory measures implemented by the government in North America to carry out data safety & security. However, Asia-Pacific is estimated to witness the largest CAGR of 23.5% from 2019 to 2026. This is attributed to implementations to raise the revenue of an organization and enhance decision-making capabilities in the organization.

Leading Market Players
Alteryx Inc.
Fair Isaac Corporation
IBM Corporation
Microsoft corporation
Oracle Corporation
SAP SE
SAS Institute Inc.
Tableau Software Inc.
Teradata Corporation
TIBCO Software Inc.

➡️𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/232

Key Findings of the Study:
By component, the solution segment led the predictive analytics in banking market size in terms of revenue in 2018.
By deployment model, the on-premise segment accounted for the highest predictive analytics in banking market share in 2018.
Region wise, North America generated the highest revenue in 2018.
Depending on the application, the fraud detection & prevention segment is anticipated to exhibit substantial growth during the forecast period.

➡️𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :
WealthTech Solutions Market https://www.alliedmarketresearch.com/wealthtech-solutions-market-A31614

Bancassurance Market https://www.alliedmarketresearch.com/bancassurance-market

Premium Finance Market https://www.alliedmarketresearch.com/premium-finance-market-A15358

Merchant Banking Services Market https://www.alliedmarketresearch.com/merchant-banking-services-market-A06931

Fuel Cards Market https://www.alliedmarketresearch.com/fuel-cards-market

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