Cloud-based Predictive Analytics Platform Market: Introduction
The rise of big data and the focus on data that is more voluminous, which comes in more varieties and arrives more quickly, have led to the growth of the cloud-based predictive analytics platform market. For the cloud-based predictive analytics platform market the shift was seen when the focus of many companies changed from buying and installing on-premise hardware to buying cloud-based services, and expanding to new cloud-based predictive analytics platforms, has been the recent trend, globally, for the IT solutions market. This has not only led to the growth of the predictive analytics market but also the growth of the cloud-based predictive analytics platform market.
Predictive analytics, the major market of which cloud-based predictive analytics platform market is a part, is used for making mathematical models - algorithms which could be used for making predictions - by applying a wide variety of mathematical techniques to historical data.
When the two approaches of predictive analytics and cloud come together, it leads to the formation of a cloud-based predictive analytics platform. The cloud-based predictive analytics platform allows predictive analytics to be more scalable, more pervasive, and easier to deploy. A cloud-based predictive analytics platform uses the advantages of the cloud to improve the ROI and time to market of the most advanced analytics.
Cloud-based Predictive Analytics Platform Market: Drivers and Challenges
One of the drivers for the cloud-based predictive analytics platform market is the reduced cost. This has made great impact on cloud-based predictive analytics platform market and has been a critical driver for cloud-based predictive analytics platform market. Also, the increasing demand for fetching insights from unstructured data like call center transcripts, email messages, social media content, and social networking site has led to the growth of the cloud-based predictive analytics platform market.
The factor which has been the major restraint for the cloud-based predictive analytics platform market is the skill gap which prevails in the market, and the requirement to draw insights from the data. Also, issues with privacy and ownership of data is another restraint for the cloud-based predictive analytics platform market.
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Cloud-based Predictive Analytics Platform Market: Market Participants
Examples of some of the market participants in the global cloud-based predictive analytics platform market identified across the value chain include GoodData Corporation, International Business Machines (IBM) Corporation, Angoss Software Corporation, Dataiku, Fair Isaac Corporation (FICO), Microsoft Corporation, NTT DATA Corporation, Oracle Corporation, Alteryx, Inc., Domino Data lab, SAP SE, AgilOne, SAS Institute, Inc, Tableau Software, Inc., TIBCO Software, Inc., Exago, Inc., Teradata Corporation, and others of cloud-based predictive analytics platform market.
Cloud-based Predictive Analytics Platform Market: Regional Overview
On the basis of geography, the global cloud-based predictive analytics platform market can be segmented into North America, Latin America, Europe, CIS & Russia, Asia Pacific excluding Japan, Japan, and the Middle East & Africa. Among all these regions, North America is expected to hold a major market share of the global cloud-based predictive analytics platform market during the forecast period, due to the presence of a large number of new and established players in the region for cloud-based predictive analytics platforms, and also due to the increased focus on innovating the existing platforms in the region regarding the cloud-based predictive analytics platform market.
Asia Pacific excluding Japan cloud-based predictive analytics platform market is expected to be fastest-growing during the forecast period, due to increased technology spending in countries such as India and Greater China for cloud-based predictive analytics platforms, and the booming demand for cost-effective advanced analytical platforms in the Asia Pacific excluding Japan cloud-based predictive analytics platform market.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, type, organization size, and vertical.
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The report covers exhaustive analysis on,
- Market Segments
- Market Dynamics
- Historical Actual Market Size, 2013–2017
- Market Size & Forecast, 2018 to 2028
- Supply & Demand Value Chain
- Current Trends/Issues/Challenges
- Competition & Companies Involved
- Market Value Chain
- Market Drivers and Restraints
Regional analysis includes,
- North America
- Latin America
- Rest of LatAm
- EU – 4 (Germany, France, Italy, Spain)
- BENELUX (Belgium, Netherlands, Luxemburg)
- NORDIC (Norway, Denmark, Iceland, Sweden)
- Eastern Europe (Poland, Ukraine, Czech Rep., etc.)
- Rest of Europe
- CIS & Russia
- Greater China
- ASEAN Countries
- Rest of APEJ
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
An Adaptive Approach to Modern-day Research Needs
- Detailed overview of parent market
- Changing market dynamics of the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
- Must-have information for market players to sustain and enhance their market footprint
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Cloud-based Predictive Analytics Platform Market: Segmentation
The cloud-based predictive analytics platform market can be segmented on the basis of type, organization size, vertical, and region.
On the basis of type, the cloud-based predictive analytics platform market can be segmented into:
- Financial Analytics
- Risk Analytics
- Customer Analytics
- Marketing Analytics
- Sales Analytics
- Supply Chain Analytics
- Network Analytics
- Web and Social Media Analytics
These are the major types of cloud-based predictive analytics platforms which are in use and could also be given for predictive analytics market.
On the basis of organization size, the cloud-based predictive analytics platform market can be segmented into:
- Large Enterprises
- Small and Medium Enterprises
On the basis of vertical, the cloud-based predictive analytics platform market can be segmented into:
- Healthcare and Life Science
- Telecommunication and IT
- Retail and e-Commerce
- Energy and Utilities
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