Predictive Analytics Market is Growing at 20+% CAGR; Future Investment, Expansion Plan, Market Size and Share Study 2028

Predictive Analytics Market 2022-2028 report offers one of the best solutions to know the trends and opportunities in Predictive Analytics industry.

NEW YORK, UNITED STATES, November 18, 2022 /EINPresswire.com/ -- The New Report by The Insight Partners titled, "Global Predictive Analytics Market Size, Share, Growth, Industry Trends, and Forecast 2022-2028 by Component, Deployment Mode, Organization Size, and Industry Vertical,” the predictive analytics market size is projected to grow from US$ 12,492.94 million in 2022 to US$ 38,038.83 million by 2028; the predictive analytics market share is estimated to grow at a CAGR of 20.4% from 2022 to 2028. Predictive Analytics Market Report gives a detailed analysis of industry size, share, growth, trends, demand and forecast 2028. The Report also provides information regarding Predictive Analytics opportunities, development trends; future roadmap and top manufacture history it will help to your Predictive Analytics for great decision making. The report tracks the latest trends in the industry and studies their impact on the overall market

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Increase in Uptake of Predictive Analytics Tools Propels Predictive Analytics Market Growth

Predictive analytics tools use data to state the probabilities of the possible outcomes in the future. Knowing these probabilities can help users plan many aspects of their business. Predictive analytics is part of a larger set of data analytics; other aspects of data analytics include descriptive analytics, which helps users understand what their data represent; diagnostic analytics, which helps identify the causes of past events; and prescriptive analytics, which provides users with practical advice to make better decisions. Prescriptive analytics is similar to predictive analytics. Predictive modeling is the most technical aspect of predictive analytics. Data analysts perform modeling with statistics and other historical data. The model then estimates the likelihood of different outcomes. In e-commerce, predictive modeling tools help analyze customer data. It can predict how many people are likely to buy a certain product. It can also predict the return on investment (ROI) of targeted marketing campaigns.

Some software-as-a-service (SaaS) may collect data directly from online stores, such as Amazon Marketplace. Predictive analytics tools may benefit social media marketing by guiding users to plan the type of content to post; these tools also recommend the best time and day to post. Manufacturing industries need predictive analytics to manage inventory, supply chains, and staff hiring processes. Transport planning and execution are performed more efficiently with predictive analytics tools. For instance, SAP is a leading multinational software company. Its Predictive Analytics was one of the leading data analytics platforms across the world. Now, the software is gradually being integrated into SAP’s larger Cloud Analytics platform, which does more business intelligence (BI) than SAP Predictive Analytics. SAP Analytics Cloud, which works on all devices, utilizes artificial intelligence (AI) to improve business planning and forecasting. This analytics platform can be easily extended to businesses of all sizes.

Scope of the Report                      

By Component [Solution (Risk Analytics, Marketing Analytics, Sales Analytics, Customer Analytics, and Others) and Service]

By Deployment Mode (On-Premise and Cloud-Based)

By Organization Size [Small and Medium Enterprises (SMEs) and Large Enterprises]

By Industry Vertical (IT & Telecom, BFSI, Energy & Utilities, Government and Defence, Retail and e-Commerce, Manufacturing, and Others)

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Some of The Key Players Covered in the Predictive Analytics Market:

IBM Corporation; Microsoft Corporation; Oracle Corporation; SAP SE; Google LLC; SAS Institute Inc.; Salesforce.com, inc.; Amazon Web Services; Hewlett Packard Enterprise Development LP (HPE); and NTT DATA Corporation are among the leading players profiled in this report of the market. Several other essential predictive analytics market players were analyzed for a holistic view of the predictive analytics market and its ecosystem. The report provides detailed predictive analytics market insights, which help the key players strategize their growth.

In 2022, Microsoft partnered with Teradata, a provider of a multi-cloud platform for enterprise analytics, for the integration of Teradata's Vantage data platform into Microsoft Azure.

In 2021, IBM and Black & Veatch collaborated to assist customers in keeping their assets and equipment working at peak performance and reliability by integrating AI with real-time data analytics.

In 2020, Microsoft partnered with SAS for the extension of their business solutions. As a part of this move, the companies will migrate SAS analytical products and solutions to Microsoft Azure as a preferred cloud provider for SAS cloud.

North America is one of the most vital regions for the uptake and growth of new technologies due to favorable government policies that boost innovation, the presence of a substantial industrial base, and high purchasing power, especially in developed countries such as the US and Canada. The industrial sector in the US is a prominent market for security analytics. The country consists of a large number of predictive analytics platform developers. The COVID-19 pandemic enforced companies to adopt the work-from-home culture, increasing the demand for big data and data analytics. The pandemic created an enormous challenge for businesses in North America to continue operating despite massive shutdowns of offices and other facilities. Furthermore, the surge in digital traffic presented an opportunity for numerous online frauds, phishing attacks, denial of inventory, and ransomware attacks. Due to the increased risk of cybercrimes, enterprises began adopting advanced predictive analytics-based solutions to detect and manage any abnormal behavior in their networks. Thus, with the growing number of remote working facilities, the need for predictive analytics solutions also increased in North America during the COVID-19 pandemic.

An international Predictive Analytics Market report explains market definition, classifications, applications, and engagements in the market. The industry report makes available an in depth description, competitive scenario, wide product portfolio of key vendors and business strategy adopted by competitors along with their SWOT analysis and porter's five force analysis. This wide ranging report is the best overview about global industry perspective, comprehensive analysis, size, share, growth, segment, trends and forecast. The winning Predictive Analytics report includes estimations of all the market drivers and market restraints which are mainly obtained from SWOT analysis while also providing the CAGR projections for the historic year 2021, base year 2022, and forecast period 2022-2028.

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Predictive Analytics Market Growth Scenario with 20.4% of CAGR by 2028