(MENAFN - America News Hour)In a recent published report, Kenneth Research has updated the market report for Predictive Analytics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Predictive Analytics Market products.
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Kenneth Research, in its repository of market research reports, have recently added a report on Predictive Analytics Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2030. The Predictive Analytics Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide.
According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
The Global Predictive Analytics Market was valued at USD 3.98 billion in 2016 and is projected to reach USD 24.45 billion by 2025, growing at a CAGR of 22.35% from 2017 to 2025.
Predictive analytics encompasses a variety of statistical techniques from predictive modeling, machine learning, and data mining that analyze current and historical facts to make predictions about future or otherwise unknown events. Predictive analytics provides several benefits to the organizations using it, that includes Ã¢â‚¬'' improved efficiency in production, reduces risks, detect fraud, meets consumer expectations, optimizes marketing productivity, and influence cross-functional collaboration.
1. Market Drivers
1.1 Emergence of machine learning and AI
1.2 Increasing adoption of big data
1.3 Growing need to accelerate the development of better analytical tool
1.4 Rising adoption of predictive analytics for forecasting future market trends
2. Market Restraints
2.1 Concerns for data privacy
2.2 Data ecosystems and exchanges
2.3 Time consuming task in restructuring of predictive models
The Global Predictive Analytics Market is segmented on the organization size, component, deployment model, vertical, and region.
1. Organization Size:
1.1 Large Enterprises
1.2 Small and Medium Organizations
2. By Deployment Mode:
3. By Component:
3.1.1 Customer analytics
3.1.2 Marketing analytics
3.1.3 Web and social media analytics
3.1.4 Financial analytics
3.1.5 Network analytics
3.1.6 Risk analytics
3.1.7 Sales analytics
3.1.8 Supply chain analytics
3.2.1 Managed services
3.2.2 Professional services
220.127.116.11 Support and maintenance services
18.104.22.168 Consulting services
4. By Vertical:
4.2 Government and Defense
4.3 IT and Telecom
4.4 Banking, Financial Services, and Insurance (BFSI)
4.5 Transportation and Logistics
4.6 Retail and e-commerce
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. Oracle Corporation
2. IBM Corporation
3. SAS Institute, Inc.
4. NTT Data Corporation
5. Microsoft Corporation
6. SAP SE
7. Fair Isaac Corporation (FICO)
8. Angoss Software Corporation
9. Rapidminer, Inc.
10. Tableau Software, Inc
11. Tibco Software, Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Predictive Analytics Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the Research Methodology of Verified Market Intelligence and other aspects of the research study, kindly get in touch with our sales team
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Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.
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