Predictive Analytics Global Market Report 2024

Description

“Predictive Analytics Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on predictive analytics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for predictive analytics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The predictive analytics market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Component: Solutions; Services
2) By Deployment Mode: Cloud; On-Premises
3) By Organization Size: Large Enterprises; Small And Medium-Sized Enterprises (SMEs)
4) By Vertical: 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
Companies Mentioned: IBM Corporation; Microsoft Corporation; Oracle Corporation; SAP SE;SAS Institute Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Predictive analytics involves the use of statistics and modeling techniques based on current and historical data to make predictions about future performance and outcomes. This methodology is applied to determine customer responses, identify cross-sell opportunities, and predict future purchases.

The main components of the predictive analytics market include solutions and services. Predictive analytics solutions encompass elements that empower data scientists and event managers to conduct and analyze forecasts and predictions. These solutions cover various domains such as financial analytics, risk analytics, marketing analytics, sales analytics, customer analytics, web and social media analytics, supply chain analytics, and network analytics. Predictive analytics can be deployed both in the cloud and on-premises, catering to the needs of both large enterprises and small and medium-sized enterprises (SMEs). It finds applications in verticals such as BFSI (Banking, Financial Services, and Insurance), manufacturing, retail and e-commerce, government and defense, healthcare and life sciences, energy and utilities, telecommunications and IT, transportation and logistics, media and entertainment, as well as travel and hospitality.

The predictive analytics market research report is one of a series of new reports from The Business Research Company that provides predictive analytics market statistics, including predictive analytics industry global market size, regional shares, competitors with a predictive analytics market share, detailed predictive analytics market segments, market trends and opportunities, and any further data you may need to thrive in the predictive analytics industry. This predictive analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The predictive analytics market size has grown exponentially in recent years. It will grow from $14. 19 billion in 2023 to $17. 42 billion in 2024 at a compound annual growth rate (CAGR) of 22. 8%. The growth observed in the historical period can be attributed to several factors, including business process optimization, increased competition and market dynamics, a focus on customer relationship management, efforts to improve healthcare outcomes, and the implementation of risk management and fraud detection measures.

The predictive analytics market size is expected to see exponential growth in the next few years. It will grow to $41. 44 billion in 2028 at a compound annual growth rate (CAGR) of 24. 2%. The anticipated growth in the forecast period can be attributed to factors such as customization and scalability of predictive analytics solutions, optimization of energy consumption, automation of regulatory compliance, continuous monitoring of model performance, and the application of predictive analytics in human resources and talent analytics. Major trends expected during this period include increased adoption across various industries, a focus on advanced machine learning models, the exponential growth of big data, the incorporation of explainable AI for transparency, enhanced capabilities in fraud detection and cybersecurity, and an emphasis on ethical and responsible AI practices.

The predictive analytics market is poised for growth, driven by the increasing adoption of big data and related technologies. Big data, a data management system used in processing large datasets, has seen rising adoption in various industries, fostering the development of innovative technologies. Predictive analytics benefits from these advancements, incorporating technologies such as edge computing, streaming analytics, artificial intelligence, in-memory databases, data lakes, and blockchain. Notably, over 53% of companies are embracing big data analytics, according to a 2022 study by Dresner Advisory Services. This surge in the adoption of big data and related technologies is anticipated to propel the growth of the predictive analytics market.

The predictive analytics market is expected to receive a significant boost from the growth of artificial intelligence (AI). AI, simulating human intelligence processes performed by machines, enhances predictive analytics capabilities by analyzing historical data, identifying patterns, and predicting future trends. The AI market in the UK, surpassing $21 billion in 2022, is projected to contribute approximately $1 trillion to the UK economy by 2035, as reported by the International Trade Administration. The expansion of artificial intelligence is a key driver for the growth of the predictive analytics market.

A notable trend in the predictive analytics market is the increasing adoption of cloud computing. Organizations are strategically adopting cloud services to reduce costs, mitigate risks, and achieve scalable database capabilities. Cloud adoption has become pervasive in the business world, acting as a crucial driver of digital empowerment and innovation. A survey reported by O'Reilly in November 2021 revealed that 90% of organizations have embraced cloud computing, signaling its widespread adoption across industries.

Major companies in the predictive analytics market are introducing new software solutions to offer more efficient and effective solutions for industrial operators. AVEVA, a UK-based corporate payment specialist, launched the AVEVA Predictive Analytics software in February 2023. This software facilitates predictive monitoring of industrial assets in sectors like oil and gas, power, chemicals, mining, and manufacturing. AVEVA Predictive Analytics incorporates automated model building for faster and more consistent deployment of predictive maintenance solutions, contributing to improved asset reliability, performance, sustainability, and workforce productivity. Additionally, the software allows data science teams to integrate their AI algorithms through a 'bring your own algorithm' capability.

In January 2021, TIBCO Software Inc., an American business intelligence software company, acquired Information Builders, Inc., a US-based software company specializing in business intelligence, data integration, and data quality solutions. This acquisition positions TIBCO to expand its customer base and global partner networks in the predictive analytics market.

Major companies operating in the in the predictive analytics market report are IBM Corporation, Microsoft Corporation, Oracle Corporation,SAP SE,SAS Institute Inc.,Salesforce Inc.,Alteryx Inc.,RapidMiner Inc.,DataRobot Inc.,Domo Inc.,TIBCO Software Inc.,KNIME Inc.,Sisense Inc.,FICO,GoodData,Angoss Software Co., QlikTech Inc.,Rapid Insight Inc.,TARGIT Inc.,Predixion Software Inc.,Information Builders Inc.,Salesforce,Indix Internet India Private Limited, Opera Solutions India Private Limited, SymphonyAI Group,Exago Ventures S. A.,Rapid7 Inc.,Stratifyd Inc.,Thoughtspot India Private Limited,Ayasdi

North America was the largest region in the predictive analytics market in 2023. The regions covered in the predictive analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the predictive analytics market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The predictive analytics market includes revenues earned by entities by providing predictive models, descriptive models, and decision models. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r10530

1. Executive Summary

2. Predictive Analytics Market Characteristics

3. Predictive Analytics Market Trends And Strategies

4. Predictive Analytics Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Predictive Analytics Market Size and Growth

5.1. Global Predictive Analytics Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Predictive Analytics Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Predictive Analytics Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Predictive Analytics Market Segmentation

6.1. Global Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Solutions
Services
6.2. Global Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Cloud
On-Premises
6.3. Global Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Large Enterprises
Small And Medium-Sized Enterprises (SMEs)
6. 4. Global Predictive Analytics Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
BFSI
Manufacturing
Retail And Ecommerce
Government And Defense
Healthcare And Life Sciences
Energy And Utilities
Telecommunications And IT
Transportation And Logistics
Media And Entertainment

7. Predictive Analytics Market Regional And Country Analysis

7.1. Global Predictive Analytics Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Predictive Analytics Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Predictive Analytics Market

8.1. Asia-Pacific Predictive Analytics Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. 4. Asia-Pacific Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Predictive Analytics Market

9.1. China Predictive Analytics Market Overview
9.2. China Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9. 4. China Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Predictive Analytics Market

10.1. India Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Predictive Analytics Market

11.1. Japan Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Predictive Analytics Market

12.1. Australia Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Predictive Analytics Market

13.1. Indonesia Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Predictive Analytics Market

14.1. South Korea Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Predictive Analytics Market

15.1. Western Europe Predictive Analytics Market Overview
15.2. Western Europe Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. 4. Western Europe Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Predictive Analytics Market

16.1. UK Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Predictive Analytics Market

17.1. Germany Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Predictive Analytics Market

18. 5. France Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 6. France Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 7. France Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Predictive Analytics Market

19. 9. Italy Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Predictive Analytics Market

20.13. Spain Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Predictive Analytics Market

21.1. Eastern Europe Predictive Analytics Market Overview
21.2. Eastern Europe Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. 4. Eastern Europe Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Predictive Analytics Market

22.1. Russia Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Predictive Analytics Market

23.1. North America Predictive Analytics Market Overview
23.2. North America Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. 4. North America Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Predictive Analytics Market

24.1. USA Predictive Analytics Market Overview
24.2. USA Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. 4. USA Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Predictive Analytics Market

25.1. Canada Predictive Analytics Market Overview
25.2. Canada Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. 4. Canada Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Predictive Analytics Market

26.1. South America Predictive Analytics Market Overview
26.2. South America Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. 4. South America Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Predictive Analytics Market

27.1. Brazil Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Predictive Analytics Market

28.1. Middle East Predictive Analytics Market Overview
28.2. Middle East Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. 4. Middle East Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Predictive Analytics Market

29.1. Africa Predictive Analytics Market Overview
29.2. Africa Predictive Analytics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Predictive Analytics Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. 4. Africa Predictive Analytics Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Predictive Analytics Market Competitive Landscape And Company Profiles

30.1. Predictive Analytics Market Competitive Landscape
30.2. Predictive Analytics Market Company Profiles
- 30.2.1. IBM Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1. 4. Financial Performance
- 30.2.2. Microsoft Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2. 4. Financial Performance
- 30.2.3. Oracle Corporation
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3. 4. Financial Performance
- 30.2. 4. SAP SE
  - 30.2. 4.1. Overview
  - 30.2. 4.2. Products and Services
  - 30.2. 4.3. Strategy
  - 30.2. 4. 4. Financial Performance
- 30.2. 5. SAS Institute Inc.
  - 30.2. 5.1. Overview
  - 30.2. 5.2. Products and Services
  - 30.2. 5.3. Strategy
  - 30.2. 5. 4. Financial Performance

31. Global Predictive Analytics Market Competitive Benchmarking

32. Global Predictive Analytics Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Predictive Analytics Market

34. Predictive Analytics Market Future Outlook and Potential Analysis

34.1 Predictive Analytics Market In 2028 - Countries Offering Most New Opportunities
34.2 Predictive Analytics Market In 2028 - Segments Offering Most New Opportunities
34. 3 Predictive Analytics Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35. 4. Research Inquiries
35. 5. The Business Research Company
35. 6. Copyright And Disclaimer