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U.S. Predictive Analytics Market Dynamics Demystified Future-Proofing Your Business for Tomorrow | CAGR of 16.1%

U.S. Predictive Analytics Market Dynamics Demystified Future-Proofing Your Business for Tomorrow | CAGR of 16.1%

The latest research report, “U.S. Predictive Analytics Market”, covers various aspects of the industry, including market size, status, trends, and future insights for the next 10 years. It provides a detailed analysis of competitors and key market drivers, highlighting growth opportunities. The report includes analysis of top players, revenue streams, CAGR status, as well as SWOT and PESTLE analysis for each geographic region. This comprehensive research combines qualitative and quantitative data from primary and secondary sources. It aims to provide an in-depth understanding of the current market scenario and the impact of COVID-19 on the industry. The report thoroughly examines each segment of the market.

The U.S. predictive analytics market size was valued at $2.49 billion in 2019 and is projected to reach $8.27 billion by 2027, growing at a CAGR of 16.1% from 2020 to 2027. Predictive analytics is the practice of using statistics and modeling techniques to extract information from current and historical datasets to predict potential future outcomes and trends. Rise in awareness among organizations about massive volume of data generated to predict future outcomes by using predictive analysis solutions is driving the growth of the market. In addition, increase in usage of internet coupled with the availability of several sources of accessing the internet has led increase in data generation. Thus, leveraging this data to make accurate business strategies and decisions optimizes the revenue, which is driving the demand for predictive analytics solutions.

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Market Overview: 

This research report provides valuable insights into the current market situation, drawing information and analysis from various sources. It scrutinizes prominent industry players, presenting details on their product specifications, pricing analysis, sales figures, market share, and raw material suppliers. Moreover, the report highlights the principal market trends and drivers, giving a holistic overview of the entire landscape. 

Unveiling the Significant Growth Factors: 

The report delves into the intricate tapestry of factors driving the growth of the Market. A comprehensive analysis of market drivers includes the surging demand for energy-efficient and environmentally friendly solutions, the relentless march of industrialization, and the expansion of the manufacturing sector. These factors, among others, contribute to the market’s upward trajectory. 

Increase in the adoption of predictive modeling tools, surge in investments for Big Data supporting initiatives by governments and rise in adoption of Big Data technologies are some of the major factors that are driving the global predictive analytics market growth. However, dearth of skilled IT staff and high implementation cost are anticipated to restrict the market growth. On the contrary, integration of IoT and AI in predictive analytics and rise in demand for predictive analytics by SMEs are anticipated to provide lucrative growth opportunities for the expansion of global predictive analytics market during the analysis period.

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Based on connectivity technology, the Wi-Fi segment has dominated the U.S. predictive analytics market share in 2019 and is projected to maintain its dominance in the country. However, the 4G+ segment is expected to attain significant growth during the forecast period.

According to industry vertical, the BFSI segment accounted for the highest share in predictive analytics market share in 2019, as regulatory framework has become more complex across the world. Moreover, predictive analytics in BFSI facilitates capital planning, financial analytics, credit risk management, and insurance risk management, which further fuel the growth of this segment. The report focuses on the growth prospects, restraints, and trends of the U.S. predictive analytics market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers in the U.S. predictive analytics market.

Market Performance of Leading Companies: 

The market research report closely monitors the performance of companies in the market. It provides strategic analysis, micro and macro market trends and scenarios, pricing analysis, and a holistic overview of the market situation during the forecast period. The report also examines key players, major collaborations, mergers, and acquisitions, trending innovations, and business policies. 

Key benefits for stakeholders
– The study provides an in-depth analysis of the U.S. predictive analytics market share along with the current & future trends to elucidate the imminent investment pockets.
– Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
– Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
– An extensive analysis of the key segments of the industry helps to understand the U.S. predictive analytics market trends.
– The quantitative analysis of the U.S. predictive analytics market from 2020 to 2027 is provided to determine the market potential.

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Major Segments of the market: 

The research report includes specific market segments based on region (country), manufacturers, type, and application. Each segment provides information about production and consumption during the forecast period, aiding in the identification of key factors that contribute to market growth. 

Segment review
The U.S. predictive analytics market analysis is segmented based on component, deployment, enterprise size, and industry vertical. In terms of component, it is bifurcated into solution, services, and connectivity technology. The connectivity technology segment is further bifurcated into wired, cellular technology (2G & 3G and 4G+), Wi-Fi, Bluetooth, and others. Based on deployment, the market is divided into on-premise and cloud. Based on enterprise size, it is classified into large enterprises and small & medium-sized enterprises. According to industry vertical, it is segmented into BFSI, retail, IT & telecom, healthcare, government, manufacturing, and others.

Top impacting factors
Rise in adoption of predictive modeling tools
Predictive modeling tools help in accelerating the methods of developing and analyzing predictive models that are used by organizations for conducting operations such as customer analytics, risk reporting, threat management, and product innovation. Therefore, the adoption of predictive modeling tools has amplified in recent years supplemented with interactive visualization and automation across several industrial sectors. Furthermore, the use of predictive modeling tools for social media advertising, e-mail campaigns, and cognitive analysis of customers has led to growth in sales and increase in customer retention. Thus, as several industries such as BFSI, retail & e-commerce, and manufacturing are adopting predictive modelling tools, which is expected to contribute toward the predictive analytics market growth.

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Increased adoption of Big Data technologies
Increase in need to store, process, and analyze large volume of structured as well as unstructured datasets has driven many organizations and individuals to adopt advanced & big data analytics, which is likely to drive the growth of the market. Moreover, the volume of data captured by organization is continuously increasing due to rise in trend of Internet of Things (IoT), social media, and multimedia, which has produced a prodigious flow of data. Furthermore, due to massive amount of data generation in different industry verticals, investment in Big Data will increase, which, in turn, is expected to fuel the growth of the predictive analytics market.

Advent of modern technologies such as IoT and AI
IoT environment is proliferating the adoption of predictive analytics, as it facilitates predictive maintenance leading to enhanced energy efficiency and higher levels of production uptime. In addition, numerous industries are demanding a solution that can predict when their machines are going to get damaged. They are implementing sensors that can analyze the patterns and predict the outcome or any anomaly in the operation of machines. This as a result enables industries to reduce the downtime of the machine and increase the productivity. This benefit is expected to provide lucrative opportunities to the predictive analytics industry in upcoming years.

Key market segments
By Component
– Solution
– Customer Analytics
– Financial Analytics
– Risk Analytics
– Marketing & Sales Analytics
– Supply Chain Analytics
– Network Analytics
– Web & Social Media Analytics
– Others
– Services
– Connectivity Technology

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By Deployment
– On-premise
– Cloud

By Enterprise Size
– Large Enterprises
– Small & Medium-sized Enterprises

By Industry Vertical
– BFSI
– Retail
– IT & Telecom
– Healthcare
– Government
– Manufacturing
– Others

Questions & Answers Market Research/Analysis Report Contains to your following:

What is the current size of the market and how is it expected to grow in the future?

What are the key drivers influencing market growth?

What are the major challenges or constraints faced by market participants?

What are the emerging trends and opportunities in the market?

Who are the major competitors in the market and what is their market share?

What are the key customer segments and their preferences within the market?

What are the regional or geographic trends and variations within the market?

What are the regulatory and legal factors impacting the market?

What are the technological advancements or innovations shaping the market?

What are the pricing trends and strategies observed in the market?

What are the distribution channels and their effectiveness in reaching the target market?

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Study Objectives:

  • Conduct a SWOT analysis to evaluate global manufacturers’ market competition.
  • Define, describe, and forecast the market based on type, application, and region.
  • Assess global and regional market potential, advantages, opportunities, challenges, constraints, and risks. Identify drivers and barriers to market growth.
  • Recognize high-growth categories for stakeholder analysis. Strategically analyze growth trends and submarket contributions.
  • Examine competitive developments like expansions, agreements, new product launches, and acquisitions.
  • Create detailed growth profiles of key players and assess their expansion strategies.

Research Methodology:

  • Establish research goals, questions, and hypotheses.
  • Outline the research design, approach, data collection methods, and sampling strategy.
  • Detail data collection procedures, including primary and secondary sources, instruments, and data cleaning processes.
  • Explain data analysis methods, encompassing statistical tests and qualitative coding.
  • Address study limitations, biases, sources of error, and data constraints.
  • Consider ethical considerations, including informed consent, participant confidentiality, and minimizing harm.

Report Scope:

  • Offer comprehensive market segmentation and revenue estimates across verticals and regions.
  • Highlight key market drivers, restraints, challenges, and opportunities for stakeholders.
  • Enhance stakeholders’ comprehension of competitors and bolster their business positioning.
  • Incorporate competitor ecosystem, new product development, agreements, and acquisitions in the competitive landscape section.

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About Report Ocean:

Report Ocean stands as a preeminent provider of market research reports within the industry. Renowned globally, we are acclaimed for delivering insightful and informative research reports. Our commitment lies in furnishing clients with a comprehensive blend of both quantitative and qualitative research outcomes. As an integral component of our expansive global network and thorough industry coverage, we offer an in-depth reservoir of knowledge that empowers strategic and well-informed business decisions. Our approach integrates cutting-edge technology, advanced analysis tools, and our proprietary research models, all underpinned by years of expertise. This synergy allows us to craft essential details and facts that consistently surpass expectations.

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