Growing Demand for Predictive Analytics Market at 21.5% of CAGR Through 2026 | Know the Impact Analysis of Corona-virus/COVID19
Posted on Jul 10 2020 10:58 AM
"The Global Predictive Analytics Market Ecosystem was valued at US$ 5.70 billion in 2018 and is expected to reach US$ 14.0 billion by the year 2023, growing at a CAGR of 21.5% by 2027."
The ripple effect of Coronavirus-COVID19 on the Predictive Analytics Market Ecosystem needs to become part of strategy discussions to emerge strong. The Analyst team is meticulously tracking the impact and relevance to all the sectors in the Predictive Analytics Market. Key datasets include Revenue Impact analysis, Disruptions and New opportunities in the Supply Chain, Revised Vendor Landscape Mix, New opportunities mapping, and more.
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Predictive analytics is the branch of advanced analytics used for extracting information from existing data sets by encompassing a variety of statistical techniques, from data mining to machine learning, and predictive modeling, in order to forecast activity, behavior, and trends. Growth in cloud adoption, increasing business interest, and growing concerns of companies to streamline their production flow, reduce time-to-market, and increase product quality are the factors in driving the demand for Predictive Analytics Market Ecosystem.
Following Top Key players are profiled in this Market Study:
FedEx Corporation, DHL International GmbH, Oracle Corporation, SAP SE, IBM Corporation and Others
End-Use Industry: Transportation, Logistics, Healthcare, Automotive, Retail, BFSI, Aerospace, Oil & Gas, Consumer Electronics, and Others
Among end-users, the retail segment is projected to hold the highest market share over the forecast period, owing to growing competition, multiple touchpoints for customers, and growing customer complexities that encourage retailers to use predictive analytics tools. Predictive Analytics Market helps in achieving the company's targets as well as to reach out to new customers, prevent theft and frauds, and forecast store traffic. Further, the changing preference of customers towards a personalized and tailored shopping experience is also a major factor in driving the demand for predictive analytics solutions. Additionally, growing internet penetration, quick adoption of social media, and the expanded use of data-intensive platforms have accelerated the demand for predictive analytics tools.
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Predictive Analytics Market Ecosystem
The growth of the Predictive Analytics Market Ecosystem is mainly driven by the emergence of a massive amount of data overflow, coupled with the adoption of a data-driven approach to deliver quantifiable results. Companies such as FedEx Corporation, DHL International GmbH, Oracle Corporation, etc., are already using predictive analytics solutions to train, deploy, and manage analytical results and models.
The U.S. is leading the market owing to the growing adoption of advanced predictive analytics, as well as the strong presence of key market players such as Oracle Corporation, IBM Corporation, and others. Further, rising technological advancement, increasing innovation in predictive analytics solutions, and growing awareness about predictive analytics measures and their importance in improving business operations have created lucrative growth opportunities for the market. Further, the growing demand for automated operations and technological implementation in industries are some other factors that are anticipated to drive the demand for predictive analytics in the country
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Table of Content:
Ecosystem Report – Table of Content
- Global Predictive AnalyticsMarket Ecosystem Definition
- Scope of study
- Executive Summary
- Global Market Segmentation
Predictive Analytics Market Ecosystem Positioning
- Global Predictive AnalyticsMarket Ecosystem Snapshot
- Global Predictive AnalyticsMarket Ecosystem Segmentation
- By Component
Predictive Analytics Market Ecosystem Sizing, Volume, and ASP Analysis & Forecast
- Global Predictive AnalyticsMarket Ecosystem Sizing & Volume
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Contact Person: Rohit B.
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