Predictive analytics is the use of data, statistical algorithms, and machine learning techniques to identify the likelihood of future outcomes based on historical data. The global predictive analytics market size is expected to reach USD 91.34 Billion in 2032 and is expected to register steady revenue CAGR of 21.6% during the forecast period according to the latest analysis by Emergen Research. The global predictive analytics market is expected to grow at a significant rate over the forecast period, driven by increasing adoption of predictive analytics in various industries such as healthcare, banking, and retail, rising demand for real-time analytics, and the availability of advanced analytics tools and platforms.
One of the major drivers of the predictive analytics market is the increasing adoption of predictive analytics in various industries such as healthcare, banking, and retail. Predictive analytics is used in healthcare to identify high-risk patients and develop targeted interventions to prevent chronic diseases. In banking, predictive analytics is used to identify fraudulent activities and reduce financial losses. In retail, predictive analytics is used to forecast demand, optimize pricing, and personalize customer experiences.
The rising demand for real-time analytics is also expected to drive market growth. Real-time analytics provides instant insights into data and enables organizations to make informed decisions quickly. This is particularly important in industries such as finance and healthcare, where real-time insights can make a significant difference in patient outcomes and financial performance.
The report is formulated with the updated and latest information of the global Predictive Analytics market further validated and verified by the industry experts and professionals. The Global Predictive Analytics Market report contains historical, current, and forecast estimation of the revenue generation and profits for each segment and sub-segment of the Predictive Analytics market in each key region of the world. The report additionally sheds light on the emerging growth opportunities in the business sphere that are anticipated to bolster the growth of the market.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
The leading market contenders listed in the report are:
ALTERYX, INC., Fico, IBM, KNIME, Microsoft Corporation, Oracle Corporation, SAP, SAS Institute INC., B M Corporation, and TABLEAU SOFTWARE, LLC
Research Report on the Predictive Analytics Market Addresses the Following Key Questions:
- Who are the dominant players of the Predictive Analytics market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Predictive Analytics market?
- What are the key growth drivers and restraining factors of the Predictive Analytics market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Predictive Analytics market and its key segments?
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Emergen Research has segmented the global Predictive Analytics market on the basis of type, type of care, and region
Segments Covered in this report are:
Component Outlook (Revenue, USD Billion; 2019-2032)
- Solution
- Financial Analytics
- Risk Analytics
- Marketing Analytics
- Sales Analytics
- Customer Analytics
- Web and Social Media Analytics
- Supply Chain Analytics
- Network Analytics
- Services
- Professional Service
- Consulting
- Development and Integration
- Support and Maintenance
- Managed Services
- Professional Service
- Solution
Verticals Outlook (Revenue, USD Billion; 2019-2032)
- BFSI
- Manufacturing
- Retail and e-commerce
- Government and Defense
- Healthcare and Life Sciences
- Energy and Utilities
- Telecommunication and IT
- Transportation and Logistics
- Media and Entertainment
- Travel and Hospitality
- Other Verticals
Deployment Mode Outlook (Revenue, USD Billion; 2019-2032)
- Cloud
- On-premises
In conclusion, the Predictive Analytics Market report is an exhaustive database that will help readers formulate lucrative strategies. The Predictive Analytics Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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