Predictive Analytics Market is anticipated to generate a revenue of USD 34,114 Million by 2027, increasing at a CAGR of 21.4% during the forecast period (2020-2027), owing to the rapid globalization and economic expansion across several nations.

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Key Drivers

The significant factor which is driving the growth of the global predictive analytics market includes the increasing demand for predictive analytics among the businesses owing to the growing awareness related to the generated data, which can be used for predicting the future. In addition to this, the rise in the penetration of various advanced technologies that include big data, artificial intelligence, and machine learning, among others, and increasing inclination towards digital transformation are some other factors which are bolstering the growth of the global predictive analytics market during the forecast period. With the increase in the organizational data, the deployment of predictive analytics by companies for proper usage of available data to predict future trends is projected to increase, driving the market growth. The market is further driven by the growing adoption of predictive analytics across the banking, finance, service and insurance (BFSI) industry in order to impede illegal transaction activities.

The growing adoption of predictive analytics in the e-commerce sector to help retailers carry out real-time analysis of consumer shopping behavior and offer customized experiences to improve customer retention, is estimated to augment the market growth. Thus, the accelerating penetration of e-commerce platforms has strengthened the demand for enhanced logistics and warehousing services using supply chain analytics on a real-time basis. Moreover, the increasing adoption of advanced technologies which include Artificial Intelligence, augmented and virtual reality, big data, data mining, machine learning, along with the increasing deployment of cloud-based predictive solutions, owing to their high-speed data processing and enhanced flexibility in business operations are other factors projected to boost the market growth.

The rise in the penetration of the internet is leading to the growth in the volume of data generated and the increase in the number of connected devices worldwide are attracting a large number of consumers towards the global predictive analytics market. Moreover, various benefits offered by predictive analytics such as its ability to enhance the operations, detect fraud, optimize market campaigns, and decrease the risk is a key factor boosting the market growth. One of the major factors that is restraining the growth of the global predictive analytics market includes the rising concerns related to the privacy of the collected data. Lack of skilled professionals with adequate knowledge for effective functioning and implementation of predictive analytics solutions, is forecast to hamper the market growth over the forecast timeframe.

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Deployment Mode Segment Analysis

Based on the deployment mode, the cloud segment is anticipated to increase at a higher CAGR in the global predictive analytics market during the forecast period owing to the increase in the adoption of the cloud models by various organizations as a result of the inadequate resources. Moreover, cloud-based predictive analytics is more scalable & pervasive and is easy to implement. All these factors are further driving the growth of the market in this segment.
On-premise deployment mode is predicted to lead the market over the upcoming years, due to the growing adoption of these deployment models to ensure data protection. Increasing inclination towards on-premises mode over the cloud-based infrastructure for better data security, storage, and privacy, accelerating adoption in the semiconductor industry and emerging need for effective functioning of data centers and servers are other factors propelling the market growth.

Organization Size Segment Analysis

Based on the organization size, the large enterprises segment is projected to grow at a higher CAGR over the forecast period due to the increasing penetration of predictive analytics among large enterprises to improve the delivery time of the services & products and business productivity. In addition to this, the increasing demand to study a large amount of data generated by large enterprises is also a key factor propelling the growth of this segment.

End Use Segment Analysis

BFSI end use segment is estimated to hold a larger share over the upcoming years. The increasing complication in regulatory compliance process has augmented the adoption of advanced financial analytics solutions by leading organizations operating in the BFSI vertical. Also, the growing adoption of predictive analytics solutions to help BFSI companies undergo digital transformation, offer improved customer experience and deal with changing customer behavior, is forecast to augment the market growth.

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Regional Analysis

Asia-Pacific region is expected to grow at a higher CAGR during the forecast period due to the rising adoption of predictive analytics solutions as a result of growing awareness related to several advantages offered by predictive analytics across this region. Moreover, the rising adoption of advanced technologies such as artificial intelligence and machine learning in the region is also a major factor that is fuelling the growth of the predictive analytics market.

North America is expected to lead the market over the upcoming years, because of the ongoing technological development. Furthermore, growing awareness regarding predictive analytics measures and adoption of advanced technologies like artificial intelligence, machine learning, and big data are projected to propel the market growth.

Various notable players operating in the market include IBM, Microsoft, SAS Institute Inc., Salesforce.com, Inc., SAP, Google, Oracle, Hewlett Packard Enterprise Development LP, Amazon Web Services, Inc., and Teradata, among others. 

Key Developments: 

• • In 2021, Teradata announced that the Tesco PLC is extending its partnership with Teradata by integrating Vantage into its data platform. Tesco may use Vantage to eradicate silos and query all their data in real time, regardless of whether it is in the cloud, multiple clouds, on-premises, or any mix thereof, to gain a comprehensive view of their business.
  • In 2020, Hewlett Packard Enterprise Development LP launched HPE Ezmeral, a new software portfolio, and brand. This portfolio will speed up the data-driven transformation among the organizations. The software comprises an entire portfolio, which includes AI/ML & data analytics, IT automation, and container orchestration & management, among others.
  • In 2019, Oracle launched the Oracle analytics for the applications offering. This solution is developed for the Fusion Cloud enterprise resource planning applications, Oracle ERP Cloud, which the companies can utilize to run financial processes.

The global predictive analytics market has been segmented on the basis of component, deployment mode, organization size, vertical, and regions. Based on the component, the market is segmented into solutions and services. The solutions segment is further categorized into risk analytics, financial analytics, sales analytics, marketing analytics, web & social media analytics, customer analytics, network analytics, supply chain analytics, and others. The services segment is further segmented into professional services and managed services. Based on deployment mode, the market is segmented into on-premises and cloud. Based on organization size, the market is segmented into small & medium-sized enterprises and large enterprises. Based on vertical, the market is segmented into IT & Telecommunications, BFSI, healthcare & life sciences, retail & ecommerce, government & defense, manufacturing, transportation & logistics, energy & utilities, and others. 

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Key questions answered in this research report:

• • At what pace is the global predictive analytics market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the predictive analytics market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global predictive analytics market?
  • Which component generated maximum revenues in 2019 and identify the most promising component during the forecast period?
  • What are the various verticals of the global predictive analytics market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2027)	USD 34,114 Million
Market Base Year	2019
Market Forecast Period	2020-2027
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Component, By Deployment Mode, By Organization Size, By Vertical, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	IBM, Microsoft, SAS Institute Inc., Salesforce.com, Inc., SAP, Google, Oracle, Hewlett Packard Enterprise Development LP, Amazon Web Services, Inc., and Teradata, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Predictive Analytics Market by Component

• • Solutions
    • Risk Analytics
    • Financial Analytics
    • Sales Analytics
    • Marketing Analytics
    • Web & Social Media Analytics
    • Customer Analytics
    • Network Analytics
    • Supply Chain Analytics
    • Others
  • Services
    • Professional Services
    • Managed Services

Global Predictive Analytic Market by Deployment Mode

• • On-Premises
  • Cloud

Global Predictive Analytics Market by Organization Size

• • Small & Medium-Sized Enterprises
  • Large Enterprises

Global Predictive Analytics Market by Vertical

• • IT & Telecommunications
  • BFSI
  • Healthcare & Life Sciences
  • Retail & Ecommerce
  • Government & Defense
  • Manufacturing
  • Transportation & Logistics
  • Energy & Utilities
  • Others

Global Predictive Analytics Market by Region

• • North America Predictive Analytics Market (Option 1: As a part of the free 25% customization)
    • By Component
    • By Deployment Mode
    • By Organization Size
    • By Vertical
    • US Market All-Up
    • Canada Market All-Up
  • Europe Predictive Analytics Market (Option 2: As a part of the free 25% customization)
    • By Component
    • By Deployment Mode
    • By Organization Size
    • By Vertical
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Predictive Analytics Market (Option 3: As a part of the free 25% customization)
    • By Component
    • By Deployment Mode
    • By Organization Size
    • By Vertical
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Predictive Analytics Market (Option 4: As a part of the free 25% customization)
    • By Component
    • By Deployment Mode
    • By Organization Size
    • By Vertical
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Predictive Analytics Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • IBM
  • Microsoft
  • SAS Institute Inc.
  • com, Inc.
  • SAP
  • Google
  • Oracle
  • Hewlett Packard Enterprise Development LP
  • Amazon Web Services, Inc.
  • Teradata