FELTON, Calif., Feb. 10, 2021
FELTON, Calif., Feb. 10, 2021 /PRNewswire/ -- The global predictive analytics market size is anticipated to reach USD 23.9 billion until 2025. It is anticipated to register growth with 23.2% CAGR during the forecasted period, 2019 to 2025. This growth can be associated with an exponential increase in the generation of data coupled with rising awareness about its usage for implementing marketing strategies.
The large enterprises held a major share across the global predictive analytics market due to the surging usage of these solutions for the prediction of future trends according to the availability of historical data. While the small & medium enterprises segment registered the highest CAGR on account of the rising adoption of technologies like cloud and predictive analytics by several SMEs.
The deployment segment of on-premise dominated the global market in 2018 on account of the rising concerns about cloud infrastructure like privacy, storage, and data security. On the other hand, the segment of cloud deployment is projected to register the fastest CAGR in the upcoming years owing to its features like enhanced resource utilization, and cost-effectiveness.
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North America dominated the global market in 2018 due to rising technological advancements and surging presence of key players across the U.S. While, the Asia Pacific is projected to witness the highest growth during the forecasted period, 2019 to 2025 on account of increasing deployment of such solutions among several services and solution providers.
The market for predictive analytics includes key players such as IBM Corporation; Microsoft Corporation; SAP ERP; Oracle Corporation; and Tableau Software, Inc. These players have started adopting inorganic and organic marketing strategies like collaborations, mergers, acquisitions, partnerships to widen their product portfolio and reach.
Further key findings from the report suggest:
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Million Insights has segmented the global predictive analytics market on the basis of solution, service, deployment, enterprise size, end use, and region:
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