Predictive Analytics Market Size 2021: Industry Overview, Growth, Trends, Opportunities and Forecast till 2026
October 14, 2021
Looking forward, IMARC Group expects the global predictive analytics market is expected to grow at a CAGR of 24.5% during the forecast period (2021-2026).SHERIDAN, WYOMING, UNITED STATES, October 13, 2021 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Predictive Analytics Market Size: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, The global predictive analytics market reached a strong growth in 2020. Predictive analytics is the branch of advanced analytics that uses data mining, statistical algorithms, artificial intelligence, Big Data, and machine learning techniques to predict future outcomes. Predictive analytics offers various advantages, such as detecting fraud by improving pattern detection, preventing criminal behavior, and optimizing marketing campaigns by determining customer responses and purchases. It also improves operations and reduces risks by assessing the buyer’s likelihood of default for purchases.
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The global predictive analytics market is primarily driven by the growing adoption of integrated and connected technology. This has provided a platform for predictive analytics solutions to vendors to capitalize on the evolution of the internet. Besides this, several organizations opt for predictive analytics to acquire accurate insights, which will help them boost their financial performance and credibility. In addition to this, several regulatory authorities, such as BFSI, extensively invest in Big Data to undergo digital transformation that will improve customer experience and deal with changing customer behavior. These factors are expected to fuel the market growth in the coming years. Looking forward, IMARC Group expects the global predictive analytics market is expected to grow at a CAGR of 24.5% during the forecast period (2021-2026).
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
International Business Machines Corporation
SAS Institute Inc.
Fair Isaac Corporation (FICO)
NTT Data Corporation (Nippon Telegraph and Telephone CORPORATION)
Tableau Software LLC (Salesforce.com.Inc)
Tibco Software Inc.
Altair Engineering Inc
Breakup by Business Function:
Breakup by Solution:
Marketing and Sales Analytics
Supply Chain Analytics
Web and Social Media Analytics
Breakup by Service:
Training and Consulting
Support and Maintenance
Breakup by Deployment:
Breakup by Organization Size:
Small and Medium Enterprises
Breakup by End Use Industry:
Banking, Financial Services and Insurance
Telecommunication and IT
Retail and E-Commerce
Healthcare and Life Science
Government and Defense
Energy and Utility
Transport and Logistics
Media and Entertainment
Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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