The Global Predictive Analytics Market size is expected to reach $13.8 billion by 2023, rising at a market growth of 21% CAGR during the forecast period. Growing business interest in advanced analytics for future estimations has been the fundamental factor that has driven the demand for predictive analytics solutions. Predictive analytics is the branch of advanced analytics and is used to make predictions about uncertain and unknown future events. Some of the uses of predictive analytics are data mining, statistics, modeling, machine learning, and artificial intelligence to analyze current data to make predictions about the future. The patterns found in historical and transactional data is used to identify risks and opportunities for the potential future. Predictive analytics models are used in many functions such as in assessing risk with set of conditions to assign a score, or weightage. The successful application of predictive analytics helps businesses to effectively interpret big data for business benefits. Based on Types, the market report segments the market into Solution and Services. Solution type is further segmented into Risk Analytics, Sales Analytics, Supply Chain Analytics, Financial Analytics, Customer Analytics, Web & Social Media Analytics, Marketing Analytics, and Others. Services included in the report are Professional and Managed Services.
Based on Organization Sizes, the Global Predictive Analytics market is segment into Small & Medium Enterprises and Large Enterprises. Based on Deployment Types, the market report segments the market into Cloud and On-Premise. Based on Verticals, the market is segmented into BSFI, Government, Business Function, Healthcare, Manufacturing, Retail, Telecom & IT, Transportation & Logistics, and Others. Based on Regions, the Predictive Analytics market is segment into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The market research report covers the competition analysis of key stake holders of the Global Predictive Analytics Market. Key companies profiled in the report include International Business Machines (IBM) Corporation, Oracle Corporation, SAP SE, Microsoft Corporation, SAS Institute, Inc., Fair Isaac Corporation (FICO), NTT Data Corporation, Tableau Software, Inc., Tibco Software, Inc., and Rapidminer, Inc.