Predictive analytics is a calculative method where both past as well as forecast activity and trends are analyzed. This analytics is managed by applying various practices such as automated machine learning algorithms also as statistical analysis. These practices are applied as to be ready to develop predictive models. These models are then able to be used as to determine the potential of an event happening. Software for predictive analytics utilizes available variables as to analyze also to measure the potential of the behavior of consumers, machinery, etc. The e-commerce sector has improved the usual shopping experience of customers. Driven online or social media advertising and customer perception analysis are the key factors surging the sales of companies. The rising popularity of connected devices has resulted in retailers emphasize on real-time analysis of the shopping behavior of customers. The end results of real-time analytics can further be used for developing customized offers to reinforce customer retention. This will propel the global predictive analytics market. Furthermore, with the emergence of massive data, predictive analysis is projected to be adopted in Finance and Human Resources. The application of this technique in sales, operations and supply chain management and marketing management has majorly helped the companies. Knowing its advantages and potentials further it’s anticipated to be used in other applications such as workforce management and risk management. Moreover, the rising usage of the internet, along with the availability of various means of accessing the internet, has resulted in a massive rise in the amount of data being generated. This has resulted in the expansion and advancement of high-speed internet services around the world. These have positively anticipated in accelerating the growth of the global predictive analytics market. On contrary, the lack of skilled IT professionals and high cost of implementation are key constraints in the market.

Furthermore, the outbreak of the COVID-19 pandemic in early 2020 has positively impacted the market for predictive analytics. Various businesses are getting shifting towards predictive analytics to analyze the pandemic effect on consumer behavior, products and pricing and supply chains, therefore creating business strategies, based on production, workforce and service. Moreover, the healthcare sector is adopting predictive analytics to estimating pandemic risks, evaluating number of infected cases, and potential impact on the resources.

The global Predictive Analytics Market is segregated on the basis of component as Solution and Services. Based on Enterprise Size the global Predictive Analytics Market is segmented in Large Enterprises and Small & Medium Enterprises (SMEs). Based on Industry Vertical the global Predictive Analytics Market is segmented in BFSI, Retail, IT & Telecom, Healthcare, Government, Manufacturing and Others.

The global Predictive Analytics Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Predictive Analytics Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

Microsoft, Actify Data Labs, Aito.Ai, Altair, Alteryx and others are among the major players in the global Predictive Analytics Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In September 2020, Board International made a strategic partnership with Delaware a Singapore-based global IT consultancy firm. The strategic partnership would improve both parties’ potentials to propel digital transformation in customers’ business-wide decision-making processes.
• In July 2020, Google Cloud declared BigQuery Omni supported by Anthos for Multi-Cloud Analytics. BigQuery Omni offers enterprises with the flexibility they require to break down silos and produce actionable business insights, with no requirement to pay high egress fees for shifting data from other cloud providers to Google Cloud. It will help customers safely and cost-effectively access, analyze, and discover new insights authorizing innovation in their business.
• In June 2020, HPE introduced HPE Ezmeral, a new software portfolio and brand which will propel data-driven transformation among organizations. HPE Ezmeral offers a complete portfolio, along with container orchestration and management, AI/ML and data analytics, IT automation and AI-driven operations, cost control and safety.

The global Predictive Analytics Market has been segmented as below:

Predictive Analytics Market, By Component

• Solution
• Services

Predictive Analytics Market, By Enterprise Size

• Large Enterprises
• Small & Medium Enterprises (SMEs)

Predictive Analytics Market, By Industry Vertical

• BFSI
• Retail
• IT & Telecom
• Healthcare
• Government
• Manufacturing
• Others

Predictive Analytics Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

Predictive Analytics Market, By Company

• Microsoft
• Actify Data Labs
• Aito.Ai
• Altair
• Alteryx
• Amlgo Labs
• Aws
• Biofourmis
• Board International
• Cloudera
• Cyberlabs
• Dataiku
• Domo
• Fair Issac Corporation
• Google
• Happiest Minds
• Hitachi Vantara
• HPE

The report covers the below scope:

• Global Predictive Analytics Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global Predictive Analytics Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Predictive Analytics Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global Predictive Analytics Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Predictive Analytics Market share. Major industry players with significant revenue share include Microsoft, Actify Data Labs, Aito.Ai, Altair, Alteryx and others.

Why to Buy this Report:

• Gain detailed insights on the Predictive Analytics industry trends
• Find complete analysis on the market status
• Identify the Predictive Analytics Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

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