What is the global market size of Predictive Analytics Market?

Predictive Analytics Market size was valued at USD 10.5 billion in 2021 and is poised to grow from USD 12.78 billion in 2022 to USD 61.49 billion by 2030, growing at a CAGR of 21.7% in the forecast period (2023-2030).

Who are the key vendors in the Global Predictive Analytics Market?

The global predictive analytics market is fragmented and highly competitive. To increase their market share globally, these players have used a variety of organic and inorganic growth tactics, including product launches, mergers, acquisitions, collaborations, and partnerships. 'Microsoft', 'Oracle ', ' IBM Corporation ', ' SAP SE ', ' SAS Institute Inc. ', ' Fair Isaac Corporation (FICO) ', ' Alteryx, Inc. ', ' Angoss Software Corporation ', ' RapidMiner, Inc. ', ' KNIME AG ', ' TIBCO Software Inc. ', ' Teradata Corporation ', ' MicroStrategy Incorporated ', ' Tableau Software, LLC ', ' Information Builders Inc. ', ' Dataiku SAS ', ' IBM Watson Health ', ' Ayasdi, Inc. ', ' Dell Inc. ', ' Minitab, Inc. '

What is the key driver of Global Predictive Analytics Market?

Market growth is expected to be fueled by rising strategic collaborations among top industry players for the advancement of predictive analytics throughout the forecast period. To create novel solutions, major market players strategically work with other businesses and research institutions. Such market-wide strategic alliances are anticipated to encourage market expansion soon. For instance, in August 2021 Altair announced the acquisition of S-FRAME Software, a structural analysis platform that engineers use all over the world to assess a structure's capacity to withstand external stressors (such as wind, water, and snow) while conforming to design code standards.

What is the key market trend for Global Predictive Analytics Market?

A key trend that is becoming increasingly popular in the predictive analytics market is the expansion of cloud adoption. Adopting the cloud is a crucial step that businesses should take to cut costs, reduce risk, and achieve database scalability. Cloud adoption is pervasive in business and serves as a key conduit for digital empowerment, fostering innovation and corporate progress. Cloud methods offer a platform that can serve as a storage hub and deliver computing. For instance, according to O'Reilly, an American publishing company, 90% of the organization will be using cloud computing in November 2021. In the survey from the previous year, 88% of respondents said they used cloud, and 75% of those who worked for the organization said they did as well. However, more than 50% of respondents said they wanted to switch their applications to cloud computing, and 20% said they planned to migrate all of their applications.

Predictive Analytics Companies

Predictive Analytics Market Competitive Landscape

Predictive Analytics Market Top Player’s Company Profiles

IBM (US)
Microsoft (US)
Oracle (US)
SAP (Germany)
SAS Institute (US)
Google (US)
Salesforce (US)
Amazon Web Services (AWS) (US)
Hewlett Packard Enterprise (HPE) (US)
Teradata (US)
Alteryx (US)
FICO (US)
Altair (US)
Domo (US)
Cloudera (US)
Board International (Switzerland)
Hitachi Vantara (US)
Qlik (US)
Happiest Minds (India)
Dataiku (US)
Biofourmis (US)
In-med Prognostics (India)
Aito.Ai (Finland)
Symend (US)
Onward Health (India)
Unioncrate (US)
CyberLabs (Brazil)
Actify Data Labs (India)
Amlgo Labs (India)
Verimos (US)

Predictive Analytics Market

FAQs

Global Predictive Analytics Market size was valued at around USD 14.03 billion in 2022 and is projected to grow from USD 17.12 billion in 2023 to USD 84 billion by 2031 at a CAGR of 19.2% over the forecast period (2024–2031).

The predictive analytics market is highly competitive, with a variety of key players offering advanced solutions and services in various industries. The key players in the market are IBM, SAS Institute, Oracle, Microsoft, and SAP. These companies leverage their breadth of expertise and technology to deliver complete predictive analytics solutions that meet business needs from forecasting and risk management to customer insights and operational efficiencies. IBM’s Watson delivers advanced predictive analytics capabilities powered by artificial intelligence and machine learning. IBM focuses on integrating its solutions with other enterprise software to improve business processes and decision-making. 'IBM (US) ', 'Microsoft (US) ', 'Oracle (US) ', 'SAP (Germany) ', 'SAS Institute (US) ', 'Google (US) ', 'Salesforce (US) ', 'Amazon Web Services (AWS) (US) ', 'Hewlett Packard Enterprise (HPE) (US) ', 'Teradata (US) ', 'Alteryx (US) ', 'FICO (US) ', 'Altair (US) ', 'Domo (US) ', 'Cloudera (US) ', 'Board International (Switzerland) ', 'Hitachi Vantara (US) ', 'Qlik (US) ', 'Happiest Minds (India) ', 'Dataiku (US) ', 'Biofourmis (US) ', 'In-med Prognostics (India) ', 'Aito.Ai (Finland) ', 'Symend (US) ', 'Onward Health (India) ', 'Unioncrate (US) ', 'CyberLabs (Brazil) ', 'Actify Data Labs (India) ', 'Amlgo Labs (India) ', 'Verimos (US)'

The exponential growth of data generated by businesses across industries is driving the demand for predictive analytics. Organizations are using big data to predict trends, improve operations and make informed decisions, fueling the growth of the predictive analytics market.

Integrating Predictive Analytics with Traditional Business Intelligence (BI) Systems to Support Market Growth: Integrating predictive analytics with traditional business intelligence approaches stems from the need for a holistic and actionable approach to data analysis. By combining historical data insights from BI and predictive modeling, organizations gain focusing on their data enabling, leading to proactive responses to changing circumstances. Data analysts and business users can easily access and interpret integrated insights through user-friendly interfaces and advanced data visualization. Ongoing learning ensures that predictive models are developed and improved, providing more accurate and valuable information. Ultimately, the trend leads to improved productivity, increased ROI, and a competitive edge in a data-driven world.

North America holds the largest market share, primarily due to growing demand for automation and widespread adoption of advanced technologies across industries in Canada and the US. In terms of market share, North America dominated the global market. This can be linked to developments in technology and the prominence of market participants, particularly in the United States. Also, venture capitalists' investment in new competitors is expected to lessen competitiveness in the market. Growing developments in the methods and procedures used to develop predictive analytics solutions are expected to provide important commercial opportunities to existing enterprises. Furthermore, there is a high demand for these solutions due to growing knowledge of predictive analytics techniques and their significance.

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What is the global market size of Predictive Analytics Market?

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What is the key market trend for Predictive Analytics Market?

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