According to a new report, published by KBV research, The Global Predictive Analytics Market size is expected to reach $54.6 billion by 2031, rising at a market growth of 21.7% CAGR during the forecast period.
The Cloud segment is generating the highest revenue in the Global Predictive Analytics Market by Deployment Mode in 2023; thereby, achieving a market value of $30.6 billion by 2031. Cloud-based predictive analytics solutions offer unparalleled scalability. Businesses can easily scale their analytics capabilities up or down based on demand without the need for significant capital investment in hardware and infrastructure.
The Solution segment is registering a CAGR of 21.3 % during the forecast period. Predictive analytics solutions provide comprehensive, end-to-end capabilities, combining software tools, algorithms, and data management functionalities. This made them attractive to organizations seeking a complete package rather than piecemeal components.
The Large Enterprise segment led the Global Predictive Analytics Market by Organization Size in 2023; thereby, achieving a market value of $33.2 billion by 2031. Large enterprises generated and managed vast amounts of data from various sources, such as customer interactions, supply chains, financial transactions, etc. Predictive analytics helped these organizations make sense of this complex data and derive actionable insights.
The BFSI segment is growing at a CAGR of 19.2 % during the forecast period. The BFSI sector is highly vulnerable to fraud and cyberattacks. Predictive analytics helped institutions identify unusual patterns and behaviours that could indicate fraudulent activities, allowing them to take preventive measures to protect assets and customer data.
Full Report: https://www.kbvresearch.com/predictive-analytics-market/
The North America region dominated the Global Predictive Analytics Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $19.7 billion by 2031. The Europe region is anticipated to grow at a CAGR of 21.3% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 22.6% during (2024 - 2031).
By >Deployment Mode
By Component
By Organization Size
By Vertical
Unique Offerings 
