The European predictive analytics market is expected to reach $2,106.7 million by 2019.

2024-11-05 12:16:09 Computer

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European Predictive Analytics market report defines and segments the Predictive Analytics market in Europe with analysis and forecast of revenue. This market was valued at $602.4million in 2013, and is expected to grow at a CAGR of 28.4% from 2014 to 2019.

Browse through the TOC of the European 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.

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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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In the European region, huge data is flooded over the web due to rapidly increasing Internet usage. This massive data cannot be analyzed by traditional methods; hence, predictive analytics is providing the means to capture and analyze this data to understand its economic potential and trying to find out future trends which will help key players to gain a competitive advantage. Predictive analytics solutions are helping them to identify future statistics based on extracts of historical data. Moreover, the increase in the demand for cloud-based predictive analytics is the major driving factor of predictive analysis in this region. This is not only reducing the time and effort involved but also minimizing the utilization of IT resources and hence, increasing the productivity. The U.K. holds a 25.5% share in the European predictive analytics market, followed by Germany, which holds a 20.3% share in this market.

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The European predictive analytics 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 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.

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North America 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 North American predictive analytics market is expected to grow from $694.6 million in 2013 to $2,307.3 million by 2019 at an estimated CAGR of 24.45% for the given period. North America has the largest market share in the predictive analytics market and will boom in the near future. The drivers of this market include high penetration in multiple domains and massive amount of data deluge. Predictive analytics has a presence in all sectors; however, its applications are largely towards manufacturing, healthcare, transportation, and logistics domains. In addition, the data flow is high due to the rise in mobile device usage and broadband technology.

http://www.micromarketmonitor.com/market/north-america-predictive-analytics-2149051502.html

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