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Advanced Predictive Analytics Software Market CAGR Projected to Grow at 8.6% By 2020
Advanced Predictive Analytics Software Market Research Report Overview @ https://www.persistencemarketresearch.com/market-research/advanced-predictive-analytics-software-market.asp
Advanced and Predictive Analytics (APA) 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 future outlook of the global Advanced and Predictive Analytics (APA) software market is characterized by cloud analytics, real-time analytics, persuasion modelling and ensemble modelling.
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On the basis of end-users, the Advanced and Predictive Analytics (APA) software 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 APA software during the forecast period. 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 APA 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.
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This report also covers trends driving each market segment and offers analysis and insights on the potential of the Advanced and Predictive Analytics (APA) 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 America market was valued at US$ 1,121.3 Mn, in 2014, 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 (along with Japan) market was valued at US$ 313.0 Mn in 2014. The market in Asia Pacific is expected to expand at a CAGR of 8.3% during the forecast period, 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 (APA) software market during the forecast period.
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Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
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Key players in the global Advanced and Predictive Analytics (APA) software market include 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.
According to a new market report published by Persistence Market Research “Global Market Study on Advanced and Predictive Analytics (APA) Software: Impelled By Deployment of Big…
APA Software Market to Rise at 8.6% CAGR by 2020
Key players in the global Advanced and Predictive Analytics (APA) software market include 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.
According to a new market report published by Persistence Market Research “Global Market Study on Advanced and Predictive Analytics (APA) Software: Impelled By Deployment of Big…
