The advanced and predictive analytics (APA) software market stood at US$2,422.9 mn in 2014 and will register an 8.6% CAGR between 2015 and 2020, thanks chiefly to the utilization of big data repositories. This is the key finding of a report published by Persistence Market Research (PMR), titled, “Global Market Study on Advanced and Predictive Analytics (APA) Software: Impelled by Deployment of Big Data Repositories.” The intense focus on Hadoop, NoSQL, and NewSQL in a bid to improve enterprises’ operational efficiencies will boost the advanced and predictive analytics (APA) software market worldwide. The implementation of APA helps boost the ability to compute data, thus helping enterprises extract the maximum value from advanced and predictive analytics.
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FACTS AT A GLANCE
Companies: International Business Machines Corporation (IBM),SAS Institute Inc.,Microsoft Corporation,SAP AG,Tableau Software Inc.,Information Builders, Inc.,Fair Isaac Corporation (FICO),Teradata Corporation,Acxiom Corporation,Oracle Corporation,TIBCO Software Inc.
Coverage: All major geographies and key segments
Segments: Advanced and Predictive Analytics Software Market Segmented By Predictive Analytics, Advanced Analytics in Banking and Financial Services, Insurance, Government, Public Administration and Utilities, Pharmaceuticals, Telecom and IT predictive, Transportation and Logistics, Healthcare
Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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Advanced and Predictive Analytics (APA) Software Market: Report Scope
Advanced & predictive analytics (APA) is a group of analytic techniques, based on mathematical principles used to anticipate the future outcomes. Application of advanced & predictive analytics techniques which started its application to illustrate statistics which was used to count and quantify past occurrences, which can be crucial in a reactive and course correction manner.
These advanced & predictive analytics technologies are extensively utilized in various industry verticals, including marketing, risk management, economics and healthcare. In the recent years, many new diverse business domains have shown a legitimate interest in these technologies to cultivate better decision making and improved business outcomes.
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This research report on the advanced and predictive analytics software market for 2021 to 2031 provides a detailed analysis and helps in understanding driving forces behind the popularity of these solutions across different end-user industries.
This study demonstrates the market dynamics and trends in all the seven regions, which are expected to influence the current nature and future status of the APA software market over the forecast period. Additionally, it covers the entire advanced and predictive analytics software ecosystem, including the new technological developments as well as service offerings in the aforementioned market.
Implementation of big data repositories, such as NewSQL, NoSQL, Hadoop databases and other platforms, to enhance the ability of computing data and business value from APA, is further contributing to the growth of the advanced and predictive analytics software market.
Additionally, expansion in the usage of data science is also propelling the adoption of advanced and predictive analytics software globally. In addition to this, the shift in an interest of business analysts towards becoming data scientist is further fueling the adoption of the APA software across various end user segments.
The APA software market report include Persistence Market Research’s analysis of the key trends, drivers and restraints influencing the global advanced and predictive analytics software market currently. Weighted average model is leveraged to identify the impact of key growth drivers and restraints across various geographies, in order to help clients in framing accurate business strategies.
On the basis of end-users, the market is segmented as banking and financial services, insurance, government, public administration and utilities, pharmaceuticals, telecom and IT, retail, transportation and logistics, healthcare, manufacturing, media and entertainment, energy (oil, gas and electricity), engineering and construction, tourism and sports.
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Persistence Market Research (PMR) holds the peculiarity of keeping a tab on new-fangled existing technologies as well as the upcoming ones, which are all set to cause creative disruption around. This renders Persistence Market Research as the one-stop solution to market research-related business queries.