Global predictive analytics market is expected to grow at a CAGR of more than 20.3% by 2027 owing to increasing demand for efficient operations: says Absolute Markets Insights

Predictive analytics has proved its vital role in quality control, and ensures efficient functioning of factory operations. The technology enables transparency by the use of smart software, which is used to control predictive modeling functionalities. Manufacturers, with the help of organizations from predictive analytics market, are able to foresee the upcoming upheaval. Predicting equipment performance and the estimation of downtime helps in reducing the effects of uncertainties. Several manufacturing companies with the use of analytics keep their machines running by comparing past machine failures to sensor data from the machines to recognize patterns prior to breakdowns. With this information, manufacturers perform the necessary maintenance on a machine during slow periods without ceasing production. Thus, savings are improved with predictive maintenance, based on effective predictive analytics.

The overall predictive analytics, revenue stood at US$ 5,161.02 million in the year 2018 and is expected to grow at a CAGR of 20.3% during the forecast period of 2019 – 2027. The study analyzes the market in terms of revenue across all the major markets.

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Further, the technology has a huge part in ensuring safer production floor due to the digitalization of assets. On a similar line, manufacturers are enabled to enhance their inventory position through the information garnered by the supply chain and operations. Additionally, they also obtain insights on efficient management of transportation costs, which is a heavy percentage of the overall expense budget. Integrating predictive analytics with production technology helps in forecasting future sales based on past sales. Hence, several manufacturers are leveraging this technology to ensure optimum mix of uninterrupted revenue stream and reliability, thereby steering the growth of predictive analytics market.

During the next six years, increasing demand for predictive maintenance is anticipated to drive the growth of predictive analytics market. Fraunhofer ITWM, a German organization assist in implementation of the technology in application projects. The organization optimizes the effectiveness of the equipment by designing a solution-oriented condition monitoring and predictive maintenance systems. A growing demand for upgrading manufacturing processes and economize overall operational cost, is propelling the predictive analytics market.”

The detailed research study provides qualitative and quantitative analysis of the global predictive analytics market. The predictive analytics market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further, across all the major countries. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.

Some of the major players operating in the global predictive analytics market are Anaconda Inc., Buxton, Dataiku, DataRobot, Inc., Fair Isaac Corporation, Funnel Science, GoodData Corporation, IBM Corporation, KNIME AG, Microsoft, Minitab, LLC, Oracle, RapidMiner, Inc., SAS Institute Inc., Sisense Inc., Softweb Solutions Inc., TIBCO Software Inc., Wolfram amongst  others.

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By Offering

  • Solution
  • Services
    • Managed Services
    • Professional Services
      • Support and Maintenance
      • Consulting
      • Training

By Methodology

  • Time Series Analysis
  • Regression
    • Linear
    • Logistics
  • Decision Trees
  • Machine Learning

By Application

  • Financial
  • Risk Management
  • Marketing
  • Sales
  • Customer Relation
  • Web and Social Media
  • Supply Chain
  • Network

 By Deployment

  • On Cloud
  • On Premise

By Organization Size

  • Small and Medium Enterprises
  • Large Enterprises

By Vertical

  • Banking, Financial Services, and Insurance
  • Telecommunications and IT
  • Retail and Ecommerce
  • Healthcare and Life Sciences
  • Manufacturing
  • Government and Defense
  • Energy and Utilities
  • Transportation and Logistics
  • Others

 

By Region

  • North America
    • S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

 

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