Predictive Analytics Market Size and Share Study 2028

Predictive Analytics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component [Solution (Risk Analytics, Marketing Analytics, Sales Analytics, Customer Analytics, and Others) and Service], Deployment Mode (On-Premise and Cloud-Based), Organization Size [Small and Medium Enterprises (SMEs) and Large Enterprises], and Industry Vertical (IT & Telecom, BFSI, Energy & Utilities, Government and Defence, Retail and e-Commerce, Manufacturing, and Others)

Publication Month : Jul 2022

  • Report Code : TIPTE100000160
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 229
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The predictive analytics market size is projected to grow from US$ 12,492.94 million in 2022 to US$ 38,038.83 million by 2028; it is expected to grow at a CAGR of 20.4% from 2022 to 2028.

Predictive analytics, a branch of advanced analytics, uses historical data combined with statistical modeling, data mining techniques, and machine learning  to make predictions about future outcomes. Companies employ predictive analytics to find patterns in their data, which help them identify risks and opportunities. This type of advanced analytics is often associated with Big Data and data science. Managing the data residing in transactional databases, device log files, images, videos, sensors, and other data sources is the major challenge faced by companies these days. Data scientists use deep learning and machine learning algorithms to find patterns and predict future events for gathering insights from these data. These algorithms include linear and non-linear regression, neural networks, support vector machines, and decision trees. The insights gained through predictive analytics can be further used within prescriptive analytics.

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Predictive Analytics Market: Strategic Insights

predictive-analytics-market
Market Size Value inUS$ 12,492.94 Million in 2022
Market Size Value byUS$ 38,038.83 Million by 2028
Growth rateCAGR of 20.4% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
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Impact of COVID-19 Pandemic on Asia Pacific Predictive Analytics Market

In 2020, APAC was severely affected by the COVID-19 outbreak. With the biggest population worldwide, China faced a greater risk of the spread of infection than any other country in this region. According to the Organization for Economic Co-operation and Development (OECD), the pandemic also affected significant economies such as India, Australia, and Japan. Further, in 2021, offices in several APAC countries resumed their operations due to relaxations in lockdown restrictions and progress in the vaccination process. The COVID-19 pandemic disrupted the operations of electronics & semiconductor firms, clients, and partners for an indefinite period due to travel restrictions and business shutdowns, severely influencing revenue and reducing technological spending. Businesses in the region are expected to invest more money and energy into identifying intelligent management solutions tailored to managing security threats associated with work-from-home models, which is likely to be a new normal in many countries. Thus, the predictive analytics market  is estimated to experience substantial growth in the next few years.

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Market Insights – Predictive Analytics Market

Emergence of AIoT Technologies to Fuel Predictive Analytics Market Growth in Future

The artificial intelligence of things (AIoT) is the combination of artificial intelligence (AI)  technologies and the internet of things (IoT) infrastructure. AIoT aims to create more efficient IoT operations, enhance human–machine interactions, and improve data management and analysis. AI is the simulation of human intelligence processes by machines, especially computer systems, and is commonly used in natural language processing, speech recognition, and machine vision. IoT is a system of interdependent computing devices, mechanical and digital machines, or objects with unique identifiers and the ability to transmit data over a network without requiring human-to-human or human-to-computer interaction. AIoT is transformative and mutually beneficial for both types of technologies, as AI adds value to IoT through machine learning capabilities and enhances decision-making, while IoT adds value to AI through connectivity, signaling, and data exchange. AIoT can improve businesses and services by creating more value from IoT-generated data. AI enables the IoT device to use collected big data to analyze, learn, and make better decisions without the need for human interference. With the integration of AI, IoT creates a much smarter system. The aim of having these systems is to make accurate judgments without the need for human intervention. The inclusion of 5G is one of the biggest possible innovations in AIoT. 5G is designed to enable the faster transmission of large data files in IoT devices through higher bandwidth and lower latency. The AIoT can help solve existing operational problems, such as the costs associated with effective human capital management or the complexity of supply chains and delivery models, providing a lucrative opportunity for the growth of the predictive analytics market.

Component-Based Predictive Analytics Market Insights

The predictive analytics market analysis, by component, is bifurcated into solution and service. The solutions segment accounted for a larger predictive analytics market share in 2021. Predictive analytics solutions involve extracting information from existing data sources, identifying patterns, and predicting future trends and outcomes. It uses different techniques, including artificial intelligence, statistical modeling, and machine learning, to make these predictions. Predictive analytics solutions provide a reliable method for forecasting because they focus on risk management and take what-if scenarios into account. Moreover, it helps organizations adapt to industry needs and innovate on the go. The predictive analytics market for solution is subsegmented into risk analytics, marketing analytics, sales analytics, customer analytics, and others.

Deployment Mode-Based Predictive Analytics Market Insights

The predictive analytics market analysis, by deployment mode, is bifurcated into on premise and cloud based. The cloud-based segment accounted for a larger predictive analytics market share in 2021. Many organizations use multiple cloud environments and, possibly, a range of tailormade infrastructure monitoring, management, and troubleshooting solutions. To gain visibility in the hybrid multi-cloud environment, Cloud Ops teams using traditional scanning methods can rely on manual capabilities and ignore the correlating information pieces in the underlying environment. Predictive analytics allows users to focus on insights from data rather than independently collecting, processing, and analyzing information from multiple cloud environments. Regardless of the complexity of the cloud network, advanced machine learning algorithms that power predictive analytics capabilities provide the necessary abstraction between the complex underlying infrastructure and data analytics.

Players operating in the predictive analytics market are mainly focused on the development of advanced and efficient products.

  • In 2022, SAP acquired Askdata, which is a search-driven analytics company. The integration of Askdata with SAP is likely to enable their customers to make better informed decisions by maximizing business insights based on AI capabilities.
  • In 2020, HPE acquired Determined AI, a San Francisco-based startup offering software stack for the accelerating training of models with its ML capabilities.

Company Profiles:

  • IBM Corporation
  • Microsoft Corporation
  • Oracle Corporation
  • SAP SE
  • Google LLC
  • SAS Institute Inc.
  • Salesforce.com, inc.
  • Amazon Web Services
  • Hewlett Packard Enterprise Development LP (HPE)
  • NTT DATA Corporation
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Component, Deployment Mode, Organization Size, and Industry Vertical

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What is the estimated global market size for the predictive analytics market in 2021?

The global predictive analytics market was valued at US$ 10,578.88 Mn in 2021

What are the driving factors impacting the global predictive analytics market?

The key driving factors impacting the predictive analytics market are rise in adoption of big data technologies and increase in uptake of predictive analytics tools.

Which are the key players holding the major market share of predictive analytics market?

The key players holding the major market share of predictive analytics are IBM Corporation; Microsoft Corporation; Oracle Corporation; SAP SE; Google LLC; SAS Institute Inc.; Salesforce.com, inc.; Amazon Web Services; Hewlett Packard Enterprise Development LP (HPE); and NTT DATA Corporation

Which is the fastest growing regional market?

North America is the fastest-growing regional market in the global predictive analytics market in 2021.

Which countries are registering a high growth rate during the forecast period?

US, UK, India, South Africa, and Brazil are the countries are registering a high growth rate during the forecast period.

Which is the leading component segment in the predictive analytics market?

The services segment led the predictive analytics in 2021.

What will be the global market size for the predictive analytics market by 2028?

The global predictive analytics market size is projected to reach US$ 38,038.83 Mn by 2028.

What is the incremental growth of the predictive analytics market during the forecast period?

The incremental growth of the predictive analytics market during the forecast period is US$ 25,545.9 million with a CAGR of 20.4%

The List of Companies - Predictive Analytics Market

  1. IBM Corporation
  2. Microsoft Corporation
  3. Oracle Corporation
  4. SAP SE
  5. Google LLC
  6. SAS Institute Inc.
  7. Salesforce.com, inc.
  8. Amazon Web Services
  9. Hewlett Packard Enterprise Development LP (HPE);
  10. NTT DATA Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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