Predictive Analytics Market Report: Trends, Forecast and Competitive Analysis

Predictive Analytics Market Trends and Forecast

The future of the predictive analytics market looks promising with opportunities in the BFSI (banking, financial services and insurance), manufacturing, retail and ecommerce, government and defence, healthcare and life sciences, energy and utilities, telecommunications and IT, transportation and logistics, media and entertainment, and travel and hospitality markets. The global predictive analytics market is expected to grow with a CAGR of 21% to 23% from 2023 to 2028. The major drivers for this market are rising adoption of big data technologies, developing smart infrastructure projects for 5G services, increasing use of artificial intelligence (AI) and machine learning (ML), and growing usage of IoT based applications.

Predictive Analytics Market by Component, Deployment, Enterprise Size, and End Use Industry

Emerging Trends in the Predictive Analytics Market

Emerging trends, which have a direct impact on the dynamics of the industry, include rising internet proliferation and increasing usage of connected and integrated technologies.

A more than 150-page report is developed to help in your business decisions.  Sample figures with some insights are shown below. To learn the scope, benefits, companies researched and other details of the global predictive analytics market report.

Predictive Analytics Market by Segments

Predictive Analytics Market by Segment

The study includes a forecast for the global predictive analytics market by component, deployment, enterprise size, end use industry, and region as follows:

Predictive Analytics Market by Component [Value ($B) Shipment Analysis from 2017 to 2028]:

Solutions

Financial Analytics

Risk Analytics

Marketing Analytics

Sales Analytics

Customer Analytics

Web and Social Media Analytics

Supply Chain Analytics

Network Analytics

Others

Services

Professional Services

Consulting

Deployment and Integration

Support and Maintenance

Managed Services

Predictive Analytics Market by Deployment [Value ($B) Shipment Analysis from 2017 to 2028]:

Cloud

On-premise

Predictive Analytics Market by Enterprise Size [Value ($B) Shipment Analysis from 2017 to 2028]:

Large enterprise

Small and medium-sized enterprise

Predictive Analytics Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

BFSI

Manufacturing

Retail and eCommerce

Government and Defense

Healthcare and Life Sciences

Energy and Utilities

Telecommunications and IT

Transportation and Logistics

Media and Entertainment

Travel and Hospitality

Others

Predictive Analytics Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

North America

Europe

Asia Pacific

The Rest of the World

List of Predictive Analytics Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies predictive analytics companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the predictive analytics companies profiled in this report include. 

IBM

Microsoft

Oracle

SAP

SAS Institute

Google

Salesforce

Predictive Analytics Market Insights

Lucintel forecast that cloud is expected to witness the highest growth over the forecast period due to the data security, storage, and privacy concerns. 

Within this market, BFSI (banking, financial services and insurance) is expected to remain the largest segment due to the growing government support to secure sensitive national security, rising adoption of advanced financial analytics solutions, and its various advantages, such as fraud detection and customer engagement & targeting.

North America will remain the largest region due to the rapid adoption of sophisticated technology, presence of numerous solution providers, and rising R&D activities to support the development of new techniques and methods in the region.

Features of the Predictive Analytics Market

Market Size Estimates: Predictive analytics market size estimation in terms of value ($B)

Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.

Segmentation Analysis: Predictive analytics market size by various segments, such as by component, deployment, enterprise size, end use industry, and region

Regional Analysis: Predictive analytics market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.

Growth Opportunities: Analysis on growth opportunities in different by component, deployment, enterprise size, end use industry, and regions for the predictive analytics market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape for the Predictive analytics market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the predictive analytics market size?

Answer: The global predictive analytics market is expected to reach an estimated $xx billion by 2028.

Q2. What is the growth forecast for predictive analytics market?

Answer: The global predictive analytics market is expected to grow with a CAGR of 21% to 23% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the predictive analytics market?

Answer: The major drivers for this market are rising adoption of big data technologies, developing smart infrastructure projects for 5G services, increasing use of artificial intelligence (AI) and machine learning (ML), and growing usage of IoT based applications.

Q4. What are the major segments for predictive analytics market?

Answer: The future of the predictive analytics market looks promising with opportunities in the BFSI (banking, financial services and insurance), manufacturing, retail and ecommerce, government and defence, healthcare and life sciences, energy and utilities, telecommunications and IT, transportation and logistics, media and entertainment, and travel and hospitality markets.

Q5. What are the emerging trends in predictive analytics market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include rising internet proliferation and increasing usage of connected and integrated technologies.

Q6. Who are the key predictive analytics companies?

Answer: Some of the key predictive analytics companies are as follows:

IBM

Microsoft

Oracle

SAP

SAS Institute

Google

Salesforce

Q7. Which predictive analytics segment will be the largest in future?

Answer: Lucintel forecast that cloud is expected to witness the highest growth over the forecast period due to the data security, storage, and privacy concerns. 

Q8. In predictive analytics market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region due to the rapid adoption of sophisticated technology, presence of numerous solution providers, and rising R&D activities to support the development of new techniques and methods in the region.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• Q.1. What are some of the most promising, high-growth opportunities for the predictive analytics market by component (solutions and services), deployment (cloud and on-premise), enterprise size (large enterprise and small and medium-sized enterprise), end use industry (BFSI, manufacturing, retail and ecommerce, government and defence, healthcare and life sciences, energy and utilities, telecommunications and IT, transportation and logistics, media and entertainment, travel and hospitality and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?