Research Nester published a report titled “Data Science and Predictive Analytics Market: Global Demand Analysis & Opportunity Outlook 2035” which delivers detailed overview of the global data science and predictive analytics market in terms of market segmentation by component, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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The global data science and predictive analytics market is anticipated to attain a significant CAGR of 19% over the forecast period, i.e., 2023 – 2035. The market is segmented on the basis of application into financial risk analysis, marketing & sales analysis, customer analysis, supply chain analytics, and others, out of which, marketing & sales analysis is projected to attain significant share over the forecast period. The growth of the segment can be attributed to the increasing focus of organizations on predicting the sale trend of the market. Marketing and sales require expert outlook, which is estimated to boost the segment growth.
The global data science and predictive analytics market is foreseen to grow on the back of increasing amount of data involved in the working of different industries, which requires management and integration. Proper data integration can provide successful predictions regarding the market trends, which is estimated to boost the market growth. Moreover, global industrial growth and adoption of innovative technology is estimated to boost the market growth.
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On the basis of geographical analysis, the global data science and predictive analytics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these, the market in the North America is estimated to gain significant share over the forecast period, owing to the technical advancements in the BFSI and other sectors in the region. Furthermore, growing innovation in the digitalization and technological growth of various end-user industries, is estimated to fuel the growth of the regional market.
The research was global in nature and conducted in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa). In addition, areas like Market size, Y-O-Y growth & Opportunity Analysis, market players competitive study, investment opportunities, demand for future outlook etc. have been covered and displayed in the research report to ensure it dives deep to achieve strategic competitive intelligence in the segment.
Increasing Use of Big Data to Boost the Market Growth
Data is becoming an integral part of the working of every industry. This has generated a need for managing, analyzing, and processing this data, which is estimated to increase the demand for predictive analytics. Moreover, growing adoption of AI and other advanced technologies is estimated to boost the market growth.
However, slow adoption of predictive analytics is expected to operate as key restraint to the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global data science and predictive analytics market which includes company profiling of Salesforce, Inc., Teradata Corporation, SAS Institute Inc., SAP India Private Limited, Oracle, BioSymetrics Inc., Cyclica Inc., IBM Corporation, Microsoft Corporation and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global data science and predictive analytics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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