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increasing role of predictive analytics in achieving manufacturing excellence is driving market revenue growth

VANCOUVER, BC, CANADA, May 25, 2023 /EINPresswire.com/ -- The global predictive analytics market size is expected to reach USD 91.34 Billion in 2032 and is expected to register steady revenue CAGR of 21.6% during the forecast period according to the latest analysis by Emergen Research. Rising demand for AI-driven predictive learning is driving revenue growth of the market. The way organizations run has been revolutionized by the application of Artificial Intelligence (AI) in supply chain predictive analytics. Predictive analytics powered by AI can assist businesses to estimate consumer demand, optimize inventory levels, and drive supply chain effectiveness. Companies can acquire a competitive edge in the market and maintain supply chain management expenses by utilizing AI-driven predictive analytics. Predictive analytics powered by AI can be used to spot trends in client behavior and predict future demand. AI-driven predictive analytics can assist businesses in identifying trends in client purchasing patterns and foreseeing future demand by studying customer data. This can help businesses in maximizing their inventory levels and ensure that they always have the proper items available. Predictive analytics powered by AI can also be used to spot possible supply chain problems and take preventative action to lessen them.

However, modifications to regional data regulations is leading to the time-consuming reconfiguration of predictive models. Predictive analytics models can be significantly impacted by changing regional data rules, particularly if the requirements demand modifications to the way data is gathered, stored, or processed. For instance, the predictive model could need to be changed to consider new legislation that specifies how Personally Identifiable Information (PII) must be handled. As it might necessitate substantial adjustments to the underlying data infrastructure and modeling techniques, this restructuring can be time-consuming and resource intensive. Furthermore, the process of restructuring the predictive model might call for a thorough comprehension of the regulations and the way they affect business. These factors could restrain revenue growth of the market to some extent.

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The report discusses in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats, and demands of the Predictive Analytics market. The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report also offers estimations and predictions about the market segment and sub-segments exhibiting promising growth in the forecast timeline. The report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the Predictive Analytics market. It offers fruitful insights into the business sphere to help businesses capitalize on the lucrative growth opportunities.

The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.

Key Players Profiled in the Report are:

ALTERYX, INC., Fico, IBM, KNIME, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute INC., B M Corporation, and TABLEAU SOFTWARE, LLC.

Furthermore, the report provides a comprehensive overview of the Predictive Analytics market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.

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 Some Key Highlights From the Report

On 20 September 2023, the debut of Bambu's Wealth Management Predictive Planning solution for Microsoft Cloud for Financial Services and Microsoft Dynamics 365 Sales was announced by the international wealth technology supplier. Relationship Managers (RMs), financial advisers, agents, and businesses in the financial industry will be able to use this service to identify and prioritize their customers requirements in order to make wise financial decisions in the future.

The on-premises segment is expected to register steadily fast revenue growth rate during the forecast period owing to its rising demand. Businesses could gain more control over their data due to on-premises predictive analytics, which is beneficial for sectors that have stringent criteria for data protection and security. Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), and other data sources can all relate to on-premises predictive analytics. In addition, since local data processing and analysis is used, it frequently offers quicker response times than cloud-based solutions, which is also driving revenue growth of the segment.

The large enterprises segment is expected to account for largest revenue share in the global market during the forecast period. Large enterprises can discover new chances to develop their businesses with the use of predictive analytics, which is driving revenue growth of the segment. Data analysis can be used to find consumer trends, preferences, and behaviors that can be leveraged to create new goods or services. In addition, it can assist in locating potential new markets and clients for the business. Large organizations can also manage risks by seeing possible threats or dangers before they materialize. Data analysis can be used to find patterns and trends that can point to hazards such as supply chain interruptions, fraud, or security breaches, which is also expected to drive revenue growth of the segment.

The market in Asia Pacific is expected to account for largest revenue share during the forecast period, which is attributed to increasing activities by key market players in various countries in the region. On 12 September 2022 for instance, Cians Analytics, a supplier of high-quality, reasonably priced research and analytical support for financial institutions, has been acquired by Acuity Knowledge Partners, which is a prominent provider of high-value research, analytics, and business intelligence to the financial services sector. Acuity will be able to provide better Knowledge Process Outsourcing (KPO) support as a result of this purchase, which will also help financial organizations across the globe run more efficiently.

For the purpose of this report, Emergen Research has segmented the global predictive analytics market on the basis of component, vertical, deployment mode, vertical size, and region:

· Component Outlook (Revenue, USD Billion; 2019-2032)

Solution

Financial Analytics

Risk Analytics

Marketing Analytics

Sales Analytics

Customer Analytics

Web and Social Media Analytics

Supply Chain Analytics

Network Analytics

Services

Professional Service

Consulting

Development and Integration

Support and Maintenance

Managed Services

· Verticals Outlook (Revenue, USD Billion; 2019-2032)

BFSI

Manufacturing

Retail and e-commerce

Government and Defense

Healthcare and Life Sciences

Energy and Utilities

Telecommunication and IT

Transportation and Logistics

Media and Entertainment

Travel and Hospitality

Other Verticals

· Deployment Mode Outlook (Revenue, USD Billion; 2019-2032)

Cloud

On-premises

· Organization Size Outlook (Revenue, USD Billion; 2019-2032)

Large Enterprises

Small and Medium-sized Enterprises (SMEs)

 Information found nowhere else

With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Emergen Research study is for everybody needing commercial analyses for the Predictive Analytics Market, 2023 to 2032, market-leading companies. You will find data, trends and predictions.

Key Questions Answered in the Report:

What is the growth rate of the Predictive Analytics market? What is the anticipated market valuation of Predictive Analytics industry by 2032?

What are the key growth driving and restraining factors of the Predictive Analytics market?

Who are the prominent players operating in the market? What are the key strategies adopted by these companies?

What are the key opportunities and growth prospects of the Predictive Analytics industry over the forecast period?

Which region is expected to show significant growth in the coming years?

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