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Predictive Analytics Market Is Expected To Gain Market Growth At A Potential Rate Worth USD 91.34 Billion in 2032 
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increasing role of predictive analytics in achieving manufacturing excellence is driving market revenue growth
Market Size – USD 12.87 Billion in 2022, Market Growth – at a CAGR of 21.6%, Market Trends – Innovation and development of predictive analytics”— EMARGEN RESEARCH
VANCOUVER, BRITISH COLUMBIA, C, May 22, 2023 /EINPresswire.com/ — The global predictive analytics market size is expected to reach USD 91.34 Billion in 2032 and is expected to register steady revenue CAGR of 21.6% during the forecast period according to the latest analysis by Emergen Research. Rising demand for AI-driven predictive learning is driving revenue growth of the market. The way organizations run has been revolutionized by the application of Artificial Intelligence (AI) in supply chain predictive analytics. Predictive analytics powered by AI can assist businesses to estimate consumer demand, optimize inventory levels, and drive supply chain effectiveness. Companies can acquire a competitive edge in the market and maintain supply chain management expenses by utilizing AI-driven predictive analytics. Predictive analytics powered by AI can be used to spot trends in client behavior and predict future demand. AI-driven predictive analytics can assist businesses in identifying trends in client purchasing patterns and foreseeing future demand by studying customer data. This can help businesses in maximizing their inventory levels and ensure that they always have the proper items available. Predictive analytics powered by AI can also be used to spot possible supply chain problems and take preventative action to lessen them.
One of the major drivers of the predictive analytics market is the increasing adoption of predictive analytics in various industries such as healthcare, banking, and retail. Predictive analytics is used in healthcare to identify high-risk patients and develop targeted interventions to prevent chronic diseases. In banking, predictive analytics is used to identify fraudulent activities and reduce financial losses. In retail, predictive analytics is used to forecast demand, optimize pricing, and personalize customer experiences.
These facts and figures help readers evaluate the global market growth, production, and consumption rates, volatility in demand and product prices, and upcoming market trends over the projected period. The market research report contains significant details on the global Predictive Analytics market value based on market dynamics and various growth factors. It scrutinizes several key aspects of the market, including the latest technological innovations in the industry, ongoing trends, and developmental opportunities. One of the most vital components of the report is the SWOT analysis, coupled with a detailed overview of the market’s competitive landscape.
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Competitive Landscape:
The leading companies operating in the Predictive Analytics market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Predictive Analytics market and pinpoint the fundamental growth trends.
Leading companies profiled in the report are:
ALTERYX, INC., Fico, IBM, KNIME, Microsoft Corporation, Oracle Corporation, SAP, SAS Institute INC., B M Corporation, and TABLEAU SOFTWARE, LLC
Some Key Highlights From the Report
On 20 September 2023, the debut of Bambu's Wealth Management Predictive Planning solution for Microsoft Cloud for Financial Services and Microsoft Dynamics 365 Sales was announced by the international wealth technology supplier. Relationship Managers (RMs), financial advisers, agents, and businesses in the financial industry will be able to use this service to identify and prioritize their customers requirements in order to make wise financial decisions in the future.
The on-premises segment is expected to register steadily fast revenue growth rate during the forecast period owing to its rising demand. Businesses could gain more control over their data due to on-premises predictive analytics, which is beneficial for sectors that have stringent criteria for data protection and security. Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), and other data sources can all relate to on-premises predictive analytics. In addition, since local data processing and analysis is used, it frequently offers quicker response times than cloud-based solutions, which is also driving revenue growth of the segment.
The large enterprises segment is expected to account for largest revenue share in the global market during the forecast period. Large enterprises can discover new chances to develop their businesses with the use of predictive analytics, which is driving revenue growth of the segment. Data analysis can be used to find consumer trends, preferences, and behaviors that can be leveraged to create new goods or services. In addition, it can assist in locating potential new markets and clients for the business. Large organizations can also manage risks by seeing possible threats or dangers before they materialize. Data analysis can be used to find patterns and trends that can point to hazards such as supply chain interruptions, fraud, or security breaches, which is also expected to drive revenue growth of the segment.
The market in Asia Pacific is expected to account for largest revenue share during the forecast period, which is attributed to increasing activities by key market players in various countries in the region. On 12 September 2022 for instance, Cians Analytics, a supplier of high-quality, reasonably priced research and analytical support for financial institutions, has been acquired by Acuity Knowledge Partners, which is a prominent provider of high-value research, analytics, and business intelligence to the financial services sector. Acuity will be able to provide better Knowledge Process Outsourcing (KPO) support as a result of this purchase, which will also help financial organizations across the globe run more efficiently.
Market Segmentation by product type:
Component Outlook (Revenue, USD Billion; 2019-2032)
Solution
Financial Analytics
Risk Analytics
Marketing Analytics
Sales Analytics
Customer Analytics
Web and Social Media Analytics
Supply Chain Analytics
Network Analytics
Services
Professional Service
Consulting
Development and Integration
Support and Maintenance
Managed Services
Verticals Outlook (Revenue, USD Billion; 2019-2032)
BFSI
Manufacturing
Retail and e-commerce
Government and Defense
Healthcare and Life Sciences
Energy and Utilities
Telecommunication and IT
Transportation and Logistics
Media and Entertainment
Travel and Hospitality
Other Verticals
Deployment Mode Outlook (Revenue, USD Billion; 2019-2032)
Cloud
On-premises
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Major Regions Covered in the Predictive Analytics Market Report:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Reasons to Buy This Report:
The report presents a thorough examination of the Predictive Analytics market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.
To know more about the report, visit @ https://www.emergenresearch.com/industry-report/predictive-analytics-market
Thank you for reading our report. Customization of the report is available according to the requirements of clients. In case of further queries about the report, do get in touch with us. Our team will make sure your report is tailored according to your needs.
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