Predictive Analytics Market to Grow Significantly by 2020
FREMONT, CA: Predictive Analytics market will be worth $9.20Bn by 2020, says the latest survey report from Markets and Markets. According to the survey, North America region is expected to be the leading revenue generator for predictive analytics vendors for the next five years.
The report “Predictive Analytics Market by Business Function, Applications (Risk Management, Operations Management, Sales Management, Workforce Management), Organization Size, Deployment Model, Vertical and by Region – Global Forecast to 2020,” reveals that predictive analytics market to grow at a CAGR of 27.4 percent during the forecast period. The major driver for predictive analytics adoption is the transformation from traditional techniques to advanced analytics techniques and massive flow of structured and unstructured data.
The survey is conducted by taking interviews of key people at C-level and Director level in Tier-1, Tier-2 and Tier-3 companies, covering North America, Europe and Asia-Pacific regions.The report segments the global market on the basis of functions, applications, deployment models, organization size, verticals and regions, providing in-depth analysis and estimations, . The information on key market drivers, restraints, challenges, SWOT analysis and recent developments provided by the report helps in gaining the insights that helps in understanding the overall market strategies.
Predictive Analytics for Better Human Resource Management
The survey reports that HR is the major business function to apply Predictive Analytics to its core processes which help in recognizing strengths and vulnerabilities of the workforce, predicting leadership needs, assessing risk on an organization level and other HR related activities.
Predictive Analytics make their way into enterprise networks
Network management will be the leading segment among applications with the highest CAGR in the coming five years which is used to monitor and analyze data running across the network.
North America - the Hub of Predictive Analytics Revenue
Within the segmented regions, North America is expected to be the largest revenue generator region for predictive analytics vendors for the next five years while Europe and Asia-Pacific are taking the next place. These regions are associated with the massive data surge which needs a real-time analysis.
Major Players in the Predictive Analytics Domain
The report includes the major vendors that offer predictive analytics solutions and services: SAS Institute, IBM, SAP SE, Microsoft, FICO, Oracle, Tibco Software, Alteryx, RapidMiner and Dell.