NEW YORK, March 29, 2016 /PRNewswire/ -- "Massive surge of structured and unstructured data is driving the growth"
MarketsandMarkets forecasts the global predictive analytics market to grow from USD 2.74 billion in 2015 to USD 9.20 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 27.4%. The predictive analytics market is growing rapidly because of the transition from traditional Business Intelligence (BI) techniques to advanced analytics techniques and massive surge of structured and unstructured data.
"North America is expected to have the largest market share"
Among business functions, human resource is expected to witness the highest growth rate. Network management is expected to witness the highest CAGR during from 2015 to 2020 among applications. The North American region is expected to continue being the largest revenue generator region for predictive analytics vendors for the next five years, followed by Europe.
The study validates the market size of segments and sub-segments through secondary research and in-depth primary interviews. Various industry leaders in Tier 1, Tier 2, and Tier 3 companies were contacted for primary interviews. The in-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the predictive analytics marketplace.
- By Company type – Tier 1- 30%, Tier 2- 40%, Tier 3- 30%
- By Designation – C-Level – 72%, Director Level- 14%. Others- 14%
- By Region – North America- 57%, Europe-14%, Asia-Pacific- 29%
The report includes the study of key players offering predictive analytics solutions and services: SAS Institute (U.S.), IBM Corporation (U.S.), SAP SE (Germany), Microsoft Corporation (U.S.), FICO (U.S.), Oracle Corporation (U.S.), Tibco Software (U.S.), Alteryx (U.S.), RapidMiner (U.S.) and Dell, Inc. (U.S.). Furthermore, the report also includes in-depth competitive analysis of the key players in the predictive analytics market, with their company profiles, SWOT analysis, recent developments, and key market strategies.
The report will help the market leaders or new entrants in this market in the following ways:
1. This report segments the market into various sub-segments, covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across different end users and regions.
2. This report will help in the better understanding of the competitors and gain more insights to better one's position in the market. There is a separate section on competitive landscape, which includes competitor ecosystem, mergers and acquisitions, integrations and expansions, and collaborations of various market vendors. Besides, there are company profiles of ten players in this market. In this section, market internals are provided that can put one ahead of the competitors.
3. The report also helps in understanding the overall growth of the market. It provides information on key market drivers, restraints, challenges, and opportunities.
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