Lucintel Forecasts Predictive Analytics Market to Reach $XX Billion by 2028

According to the recent study the predictive analytics market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 4% to 6% from 2023 to 2028. Growth in this market is primarily driven by rising adoption of big data technologies, developing smart infrastructure projects for 5G services, increasing use of artificial intelligence (AI) and machine learning (ML), and growing usage of IoT based applications.

Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in predictive analytics market by component (solutions and services), deployment (cloud and on-premise), enterprise size (large enterprise and small and medium-sized enterprise), end use industry (BFSI, manufacturing, retail and ecommerce, government and defence, healthcare and life sciences, energy and utilities, telecommunications and IT, transportation and logistics, media and entertainment, travel and hospitality and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Cloud market is expected to remain the largest segment during the forecast period.”

Based on deployment, the predictive analytics market is segmented into cloud and on-premise. Lucintel forecasts that the cloud market is expected to remain the largest segment due to the data security, storage, and privacy concerns.

“Within the predictive analytics market, the BFSI (banking, financial services and insurance) segment is expected to remain the largest end use industry”

Based on end use industry the BFSI segment is expected to witness the highest growth over the forecast period due to the growing government support to secure sensitive national security, rising adoption of advanced financial analytics solutions, and its various advantages, such as fraud detection and customer engagement & targeting.

“North America will dominate the predictive analytics market in near future”

North America will remain the largest region due to the rapid adoption of sophisticated technology, presence of numerous solution providers, and rising R&D activities to support the development of new techniques and methods in the region.

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Major players of predictive analytics market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. IBM, Microsoft, Oracle, SAP, SAS Institute, Google, and Salesforce are among the major predictive analytics providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link or [email protected]

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