Predictive Analytics Market

Market Leader - predictive-analytics-market

The predictive analytics market is rapidly growing owing to the tremendous increase in the adoption of predictive analytics for forecasting the future market trends. The global predictive analytics market size is estimated to be USD 4.56 Billion in 2017 and is projected to reach USD 12.41 Billion by 2022, growing at a Compound Annual Growth Rate (CAGR) of 22.1%.

The major vendors providing predictive analytics software and services are Alteryx, Inc. (US), AgilOne (US), Angoss Software Corporation (Canada), Domino Data Lab (US), Dataiku (US), Exago, Inc. (US), Fair Isaac Corporation (FICO) (US), GoodData Corporation (US), International Business Machines Corporation (US), Information Builders (US), Kognitio Ltd. (UK), KNIME.com AG (Switzerland), MicroStrategy, Inc. (US), Microsoft Corporation (US), NTT DATA Corporation (Japan), Oracle Corporation (US), Predixion Software (US), RapidMiner (US), QlikTech International (US), Sisense, Inc. (US), SAP SE (Germany), SAS Institute, Inc. (US), Tableau Software, Inc. (US), TIBCO Software, Inc. (US), and Teradata Corporation (US). The players in the predictive analytics market have adopted various strategies to expand their global presence and enhance their market shares. Partnerships, collaborations, new product launches, and acquisitions are some of the significant strategies adopted by the players in the recent years. Top players, such as SAP SE, IBM Corporation, and Microsoft Corporation, have adopted these strategies to expand their product portfolios.

IBM Corporation has undertaken collaborations and partnerships as its major development strategies to create a leading market edge. As a part of its inorganic growth strategy, in February 2015, IBM collaborated with Juniper Networks to develop improved networks using predictive analytics. The collaboration helped IBM in harnessing big data for improving mobile and other applications. In addition, other companies are expected to get benefits through reduction in costs with a better operational flow. In June 2016, IBM partnered with Acxiom to provide a solution that would empower data scientists and would enable the use of advanced predictive analytics over the IBM Cloud.

RapidMiner is another major provider of predictive analytics software and services. The company has adopted organic and inorganic growth strategies to establish a strong foothold in the market. For instance, in January 2016, the company extended its partnership with Tableau Software; this partnership would enable users to make efficient everyday decisions through improved visualizations, delivered by Tableau. Further, later in September 2016, RapidMiner partnered with Experfy; this partnership has facilitated the company in driving its business. In addition, through its continuous efforts to improve predictive analytics, the company managed to acquire Nokia Growth Partners as its new investor, and also raised USD 16 million in 2016.

Related Reports:

Predictive Analytics Market by Type (Services, Solutions (Financial Analytics, Risk Analytics, Customer Analytics, Marketing Analytics, Sales Analytics, Web & Social Media Analytics)), Deployment, Organization, Industry Vertical - Global Forecast to 2022

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Report Code
TC 2046
Published ON
Aug, 2017
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