Global Predictive Analytics Market: Snapshot

Predictive analytics is business intelligence technology that produces a predictive score for each customer or other organizational element. Predictive analytics uses a variety of statistics and modeling techniques, and utilizes data mining, business intelligence tools, and machine information, to make predictions. The emergence of enormous amount of structured and unstructured data and ground-breaking technology deployments are the major drivers for the predictive analytics market.

In addition, database management, forecasting, data warehouses, data mining, CRM analytics, smart, logistics, decision-making process, data visualization in dashboards, and increasing demand of business having analytic capabilities are expected to drive predictive analytics market growth over the forecast period. However, time-consuming process of analysis and lack of awareness coupled with lack of qualified professionals may restrain market growth. The adoption of cloud technology and the application of predictive analytics in small and medium-sized businesses may offer significant growth opportunity for the market.

According to the report by TMR, the global market for predictive analytics was worth US$2.08 bn in 2012. Expanding at an exponential CAGR of 17.80% during the period from 2013 to 2019, the opportunity in this market is expected to reach US$6.54 mn by the end of the period of the forecast. Predictive analytics finds a widespread application in sales and marketing, finance and risk, customer and channel, and operations and workforce. Among these, the demand for predictive analytics is relatively higher in the finance and risk segment and the trend is expected to continue in the near future, states the research report.

Growing Infrastructural Development to be Beneficial for Growth

On the basis of application, the predictive analytics market is segmented into banking and financial services, insurance, government, pharmaceutical, telecom and IT, retail, transportation and logistics, healthcare, and energy, among others. Global predictive analytics market in 2012 was dominated by the banking and financial services segment, which accounted for 16.8% revenue share. Banking and financial services are progressively deploying predictive analytics as it facilitates organizations to analyze and predict several factors related to cost, revenue, and reporting on the basis of big data.

Rising Repair and Redevelopment Activities in the US to Influence Growth of Market

On the basis of region, the global predictive analytics market is segmented into North America, Europe, Asia Pacific excluding China, China, and Rest of the World. Of these, North America is dominating the global market for predictive analytics. This is attributable to the increasing demand for advanced business intelligence in North America has resulted into an extensive growth of the market for predictive analytics in this region. North America led the global market with a share of 55.9% in 2012. Researchers project this regional market to retain its leadership in the years to come. Europe, among other regional markets, is predicted to register a fast-paced growth in the near future, thanks to the large-scale uptake of predictive analytics across many industries, states the market study.

The global predictive analytics market is highly competitive and extremely consolidated, states a new research report by Transparency Market Research (TMR). In 2015, a few leading players held 80% of the overall market and the scenario is anticipated to remain more or less the same in the near future. TIBCO Software Inc., Business Machines Corp., Microsoft Corp., Information Builders Inc., SAS Institute Inc., Teradata Corp., Oracle Corp., and Fair Isaac Corp. are some of the leading players operating in this market. These players are likely to engage into strategic collaboration over the next few years in order to remain in the competition, notes the market study.

The global predictive analytics market is categorized on basis of end-users, software solution types, applications and mode of delivery. The market overview section of the report demonstrates the market dynamics and trends such as the drivers, restraints and opportunities that influence the current nature and future status of this field. The value chain analysis and Porter’s five forces analysis included in the report further help in assessing the market situation and competitiveness. Market attractiveness analysis highlights key industry segments and their comparative attractiveness against other segments.
 
Various end-users studied in this report include banking and financial services, insurance sector, government, public administration and utilities, pharmaceutical sector, telecom and IT, retail, transportation and logistics, healthcare, manufacturing, media and entertainment, energy (electricity, oil and gas), engineering and construction, tourism, sports and others. The market revenue and forecast for each of these end-user segments has been provided for the period 2011 to 2019 in terms of USD million, along with the CAGR for the forecast period 2013 to 2019. Various software solution types studied in this report include customer intelligence, decision support systems, performance management, data mining and management, fraud and security intelligence, sustainability intelligence, financial intelligence, operations management, campaign management and others. Various applications studied in this report include sales and marketing, customer and channel, operations and workforce, and finance and risk. Various mode of delivery covered in this report include on-premise installation and hosted or cloud based installation. The market revenue and forecast for each of these segments has been provided for the period 2011 to 2019 in terms of USD million, along with the CAGR for the forecast period 2013 to 2019.
 
The market is going through a growth phase marked with complexity of solutions and low awareness. There are variations in growth patterns across different end-use industries and type of software solutions. These variations exist in terms of technologies used and applications preferred. This report is thereby produced to give a detailed overview of the ongoing trends in the market. It includes review of market dynamics with focus on market drivers, growth challenges (restraints), and opportunities. 
 
In terms of geographical distribution, the global predictive analytics market has been classified into four regions, namely, North America, Europe, Asia-Pacific and Rest of the World (RoW). This section includes market revenue (2011 – 2019) and forecast (2013 – 2019) for end-users, software solution types, applications and mode of delivery in terms of USD million. The study further offers recommendations and highlights of the market, which would be useful for the present and new market players to sustain and grow in the global predictive analytics market. 
 
Apart from the detailed sub-segment analysis as mentioned below, this report also provides company profiles of the key market players. The competitive profiling of these players includes company and financial overview, business strategies adopted by them, and their recent developments which can help in assessing competition in the market. Some of the major companies included in this report include International Business Machines Corporation (IBM), SAS Institute Inc, Microsoft Corporation, SAP AG, Tableau Software Inc., Information Builders, Fair Isaac Corporation (FICO), Teradata Corporation, Acxiom Corporation, and TIBCO Software Inc. among others.
 
This research report presents a comprehensive assessment of the global predictive analytics market, by segmenting it as shown below.
 
Global Predictive Analytics Market, By End-Use Industry 
  • Banking and financial services
  • Insurance
  • Government, public administration, & utilities
  • Pharmaceutical 
  • Telecom and IT
  • Retail 
  • Transportation and logistics
  • Healthcare
  • Manufacturing
  • Media and entertainment
  • Energy (oil, gas, and electricity)
  • Engineering and construction
  • Tourism
  • Sports
  • Others
 
Global Predictive Analytics Market, By Software Solutions Type 
  • Customer intelligence
  • Decision support systems
  • Performance management
  • Data mining and management
  • Fraud and security intelligence
  • Sustainability intelligence
  • Financial intelligence
  • Operations management
  • Campaign management
  • Others 
Global Predictive Analytics Market, By Application 
  • Sales and marketing
  • Customer and channel
  • Operations and workforce
  • Finance and risk
 Global Predictive Analytics Market, By Mode of Delivery
  • On-premises installation
  • Hosted or Cloud based
Global Predictive Analytics Market, By Geography
  • North America
  • Europe
  • Asia Pacific
  • RoW
.