Key Players in the North American Predictive Analytics Market are SAS, IBM, SAP, Tibco, Oracle
(PRWEB) November 11, 2014
The North American Predictive Analytics Market report defines and segments the predictive analytics market in North America with analysis and forecast of revenue. This market is estimated to grow from $694.7 million in 2013 at a CAGR of 24.5% from 2014 to 2019.
Browse through the TOC of the North American Predictive Analytics market report to get an idea of the in-depth analysis provided. It also provides a glimpse of the segmentation in the market, and is supported by various tables and figures.
Predictive analytics is a method of retrieving useful information from existing data to identify trends and predict future outcomes. Predictive analytics solutions help organizations to determine future events and improve their decision-making process with the help of data mining, regression, decision tree, and others. This enables the development of optimal business strategy.
Globally, the predictive analytics market is expected to grow at a CAGR of 32.3% from 2013 to 2019. End-user sectors such as banking and finance services are using predictive analytics to discover efficient methods to enhance customer relationships and customer retention, and to determine the risks involved in huge transactions. Predictive analytics also has wide applications in government, pharmaceuticals, telecom and IT, and retail. This demand has increased because of the fast-growing, consumer-driven digital data and the subsequent need to extract critical and strategically beneficial information from the same.
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North America, which is the hub of data generation in large quantities, is the largest market for predictive analytics solutions, with a share of 38.8% in the global market. In this region, there is a high penetration of predictive analytics in multiple verticals like manufacturing, healthcare, transportation, and logistics, as it provides useful data to big vendors and enables the creation of growth opportunities for them. Moreover, the increase in usage of smartphones, tablets, and broadband technology has created huge data transfer over multiple transactions, allowing for massive scope for predictive analytics solutions.
The North American predictive analytics market report provides a competitive benchmarking of leading players in the industry such as SAS, IBM, SAP, Tibco, and Oracle, among others, in terms of their product offerings, key strategies, and operational parameters.
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This market has been segmented and forecast on the basis of sub-markets such as marketing analytics, risk and fraud analytics,
weather monitoring, and others. The market is further segmented and forecasted on the basis of end-users such as enterprises and small and medium businesses (SMB).
The report on the North American predictive analytics market also includes market share and value chain analyses, and market metrics such as drivers and restraints. In addition, it presents a competitive landscape and company profiles of the key players in this market.
Related Reports :
Asia-Pacific Predictive Analytics Market
Predictive analytics is the practice of extracting information from existing data sets in order to determine patterns and predict future outcomes and trends. Predictive analytics support organizations to predict future events so that they can plan and carry out strategies that improve the decision-making process.
The Asia-Pacific predictive analytics market is expected to grow from $232.1 million in 2013 to $934.9 million by 2019 at an estimated CAGR of 28.4% for the given period. The market in the Asia-Pacific region will grow rapidly due to the high potential for the adoption and implementation of predictive analytics solutions in sectors such as BFSI, manufacturing, and IT and telecommunications.
The market has been segmented by applications and industry verticals. Applications include customer profitability, workforce management, internal fraud, corporate fraud, credit risk management, and others. Industry verticals include BFSI, healthcare, insurance, government, consumer goods and retail, transportation and logistics, manufacturing, and others.
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