Predictive Analytics Market to Rise at 17.90% CAGR, BFSI Boosts Demand

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The global predictive analysis market is projected to witness immense growth in the coming years according to Transparency Market Research (TMR). The market’s vendor landscape features intense consolidation at present. The top 3 leading vendors in the global predictive analysis market currently hold nearly 80% of the total market share. These players are seen focusing on different organic and inorganic growth strategies in order to maintain their market share. Collaborations, partnerships, and mergers and acquisitions are key strategies that vendors could deploy to gain market traction.

Vendors in the global predictive analysis market are expected to focus fundamentally on employing the latest innovations, methods, and techniques. The new players in the market may find benefit in the form of financial funding from venture capitalists. New vendors are expected to leverage this factors and turn it into a lucrative growth opportunity in the global predictive analytics market.

Key vendors operating in the global predictive analytics market are Oracle Corp., Microsoft Corp., TIBCO Software Inc., Teradata Corp., and SAS Institute Inc.

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As reported by TMR, the global predictive analytics market is prognosticated to expand at a 17.80% CAGR over the forecast period 2013 to 2019. The market was worth US$2.08 bn in 2012, and is estimated to reach US$6.54 mn by 2019-end.

In terms of application, the segment of finance and risk management is expected to generate high demand in the global predictive analytics market. Geography-wise, North America is forecasted to retain its dominance over the forecast period. The region held almost 56% of the overall market share in 2012. This could be attributed to the high adoption of predictive analytics across industries in the region.

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