DUBLIN, Dec. 18, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/cbr4gw/predictive) has announced the addition of the "Predictive Analytics Market - Global Forecast to 2020 " report to their offering.
The predictive analytics market size is expected to grow from USD 2.74 Billion in 2015 to USD 9.20 Billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 27.4% during the forecast period.
Increase in the amount of structured and unstructured data is the foremost factor that is driving the need of this market. Also, increased focus on market and competitive intelligence, transformation from traditional BI techniques to advanced analytics techniques are other drivers behind the increasing market.
Among business functions, finance is expected to have the highest market share in 2015 while human resource is expected to grow at the highest CAGR from 2015 to 2020. Financial firms are delving deeper into predictive analytics to realize faster time to value and improve operational performance and decision outcomes.
The global market has been segmented on the basis of regions into North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America, to provide a region-specific analysis in the report. The North America region is expected to continue being the largest revenue generator region for predictive analytics vendors for the next five years, followed by Europe.
This is mainly because in developed economies of Canada and the U.S., there is a high focus on innovations obtained from R&D and technology. The APAC region is expected to be fastest-growing region in the predictive analytics market. The growth in this region is primarily driven by the growing awareness among the enterprises. Many APAC countries such as China, India, Japan, Singapore, and Korea are investing heavily in cost-effective analytics solutions and services.
The restraints facing the market are complex analytical workflow and diversity of data models based on business needs. In contrast to be able to generate valuable insights from the business data, predictive analytics solutions need to be more flexible in nature to become accustomed to all this potential inconsistency. Organizations need to define different business rules for managing different data models and integrated analytics solutions.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Predictive Analytics Market Overview
6 Predictive Analytics Market: Industry Trends
7 Predictive Analytics Market Analysis, By Business Function
8 Predictive Analytics Market Analysis, By Applications
9 Predictive Analytics Market Analysis, By Deployment Model
10 Predictive Analytics Market Analysis, By Organization Size
11 Predictive Analytics Market Analysis, By Vertical
12 Geographic Analysis
13 Competitive Landscape
14 Company Profiles
- Alteryx, Inc.
- Dell, Inc.
- Fair Isaac Corporation
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- SAS Institute
- Tibco Software, Inc
For more information visit http://www.researchandmarkets.com/research/cbr4gw/predictive
Laura Wood, +353-1-481-1716, firstname.lastname@example.org
SOURCE Research and Markets