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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Predictive Analytics Market Growth
Growth in data volume is one of the major drivers for the predictive analytics demand growth. Exponentially growing data from IoT devices, social media, and transaction systems make it highly business-relevant to use such information to generate actionable insights and forecasts of trends in view that help drive better decision-making and efficiency.
Advancements related to AI and machine learning also turn into key drivers. These technologies further enhance the accuracy of predictions, providing deeper insights by processing large volumes of data effectively. Advanced analytical solutions offered by platforms like Microsoft Azure Machine Learning using AI to enhance predictive capabilities, are leading the growth of the predictive analytics industry.
Predictive Analytics Market Report Snapshots
Predictive Analytics Market Size
Predictive Analytics Market Growth
Predictive Analytics Market Trends
Predictive Analytics Market Share
Predictive Analytics Companies
Predictive Analytics Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 15.70 billion.
The market is assessed to grow at a CAGR of 21.7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 91.93 billion by 2032.
The major market drivers are the rise in digital transformation and the increasing focus on developing effective marketing strategies by retailers.
The key trends of the market include the growing adoption of big data by organisations, increased internet penetration, and the rising integration of AI and IoT in predictive analytics.
The major regions in the market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Cloud and on-premise are the various segments based on the deployment of predictive analytics.
The key players in the market are IBM Corporation, Microsoft Corporation, Amazon Web Services, Inc., Google LLC, Hewlett Packard Enterprise Development LP, Oracle Corporation, SAS Institute Inc., SAP SE, TIBCO Software Inc., and Alteryx, Inc., among others.
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