PUNE, India, December 8, 2015 /PRNewswire/ --
According to a new market research report, "Predictive Analytics Market by Business Function, Applications (Risk Management, Operations Management, Sales Management, Supply Chain Management, Workforce Management), Organization Size, Deployment Model, Vertical, & by Region - Global Forecast to 2020", published by MarketsandMarkets, the global 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% during the forecast period.
Browse 97 market data Tables and 49 Figures spread through 158 Pages and in-depth TOC on "Predictive Analytics Market"
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The Predictive Analytics Market is growing rapidly because of the transformation from traditional Business Intelligence (BI) techniques to advanced analytics techniques and massive surge of structured and unstructured data.
"Network management to grow at the highest CAGR"
The report segments the global market on the basis of business functions, applications, deployment models, organization size, verticals, and regions, along with providing an in-depth analysis and the market size estimations. Business functions include sales, marketing, finance, operations, and human resource. Human resource is expected to witness the highest growth rate among business functions. Predictive analytics in HR can help recognize the strengths and vulnerabilities of the workforce, predict leadership needs, employee sentiment analysis, assess risk on an organization level, and analyze critical skills.
The market, by application, has been segmented into risk management, sales and marketing management, operations management, workforce management, network management, supply chain management, and other applications. Network management is expected to witness the highest CAGR during 2015-2020 as network analytics solutions help organizations monitor and analyze data running across the network, which are then used strategically for optimizing network performance before any network mishap happens.
"North America to be the largest revenue generator"
The report has been segmented by region: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America. 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. The APAC region is expected to be the fastest-growing region in the Predictive Analytics Market during the forecast period. The market growth in developing regions such as APAC and MEA can attributed to the massive data surge and a need to provide real-time analysis.
Major vendors that offer predictive analytics solutions and services globally are 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.). These vendors have adopted different types of organic and inorganic growth strategies such as new product launches, partnerships and collaborations, and mergers and acquisitions to expand their offerings in the Predictive Analytics Market.
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The report provides insights on the Predictive Analytics Market in various regions and industry verticals. The report aims at estimating the market size and future growth potential of this market across segments, such as business functions, applications, deployment models, organization size, verticals, and regions. 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.
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