Global Data Science and Predictive Analytics Market Expands with Solution Segment at a robust CAGR
The increasing global
data science and predictive analytics market is driven by big data explosion,
advancements in artificial intelligence and machine learning during the
forecast period 2024-2028.
According to TechSci
Research report, “Global Data
Science and Predictive Analytics Market - Global Industry Size, Share,
Trends, Opportunity, and Forecast 2018-2028, The global Data Science and
Predictive Analytics market has witnessed an unprecedented surge in growth
driven by the ever-increasing importance of data-driven decision-making in
today's digital era. This expansive market encompasses a wide array of solutions
and services aimed at extracting valuable insights from data, empowering
organizations to optimize processes, enhance operational efficiency, and gain a
competitive edge. One of the fundamental
drivers behind this market's growth is the exponential explosion of big data.
The proliferation of digital devices, the Internet of Things (IoT), and the
relentless generation of data from various sources have led to vast data sets
that hold untapped potential. Businesses across sectors are realizing the
significance of harnessing this data treasure trove, giving rise to a thriving
Data Science and Predictive Analytics market.
Advancements in artificial
intelligence (AI) and machine learning (ML) technologies have also played a
pivotal role. These technologies empower data scientists and analysts to build
intricate predictive models, automate decision-making processes, and unearth
valuable insights from data. Whether it's predictive maintenance in
manufacturing, personalized recommendations in e-commerce, or precision
medicine in healthcare, AI and ML are driving innovation and delivering
tangible benefits.
Moreover, industry-specific
use cases have come to the forefront, with organizations recognizing that
tailored analytics solutions are essential for addressing their unique
challenges. From healthcare to finance, businesses are turning to Data Science
and Predictive Analytics to gain a competitive edge within their respective
domains.
Cloud deployment has emerged
as the dominant choice for organizations seeking scalability, cost-efficiency,
and flexibility. Cloud-based data analytics solutions offer rapid deployment,
accessibility from anywhere, and seamless integration with other cloud
services, reshaping how businesses approach data analytics.
Large enterprises, equipped
with substantial resources, extensive data volumes, and global operations, have
been instrumental in pushing the boundaries of the Data Science and Predictive
Analytics market. Their investments set industry standards and inspire
innovation, making them pivotal players in this evolving landscape. North America, particularly
the United States, has established itself as a dominant force in this global
market. The region's technological innovation hubs, early adoption of
data-driven practices, access to extensive data sources, a robust ecosystem of tech
giants, and stringent regulatory environments have collectively solidified its
leadership position. The Data Science and
Predictive Analytics market's trajectory points towards continued growth and
innovation. As organizations worldwide recognize the transformative potential
of data analytics, this market will continue to evolve, with technology advancements
and a growing emphasis on ethical data usage shaping its future.
Browse over XX market
data Figures spread through XX Pages and an in-depth TOC on the "Global Data Science and Predictive Analytics Market."
The global data science and
predictive analytics market is segmented into component, deployment, enterprise
type, application, end user, and region. Based on component, the market is
segmented into solution, service. Based on deployment, the market is segmented
into cloud, and on-premise. Based on enterprise type, the market is segmented
into large enterprises, small and medium enterprises (SMEs). Based on application,
the market is segmented into financial risk analysis, marketing & sales
analysis, customer analysis, supply chain analytics. Based on end user, the market
is segmented into BFSI, Automotive, IT & telecom, healthcare, retail,
energy & utility, government, others. Based on region, the market is
further bifurcated into North America, Asia-Pacific, Europe, South America,
Middle East & Africa.
Based on enterprise type, large
enterprises dominated in the global data science and predictive analytics
market in 2022. Large enterprises have greater financial resources, allowing
them to invest heavily in data science and predictive analytics initiatives.
They can afford to build and maintain dedicated data analytics teams, invest in
advanced analytics tools, and allocate significant budgets to data-related
projects. This financial strength provides large enterprises with a competitive
advantage in leveraging data for decision-making and innovation.
Large enterprises typically
generate and manage vast volumes of data due to their extensive operations,
customer base, and supply chains. Analyzing such complex and diverse datasets
requires advanced data analytics capabilities, which are readily available to
large enterprises. These organizations can tackle the intricacies of big data
and extract valuable insights from them. Large enterprises often face intense
competition in their respective industries. To maintain or gain a competitive
edge, they turn to data science and predictive analytics to drive innovation,
enhance operational efficiency, and improve customer experiences. The ability
to make data-driven decisions helps large enterprises stay agile in a
fast-paced business environment.
Key market players in the
global data science and predictive analytics market are:
-
- Accenture plc
- Vention, Inc.
- Absolutdata Analytics Pvt. Ltd.
- Salesforce, Inc.
- Manthan Software Services Pvt. Ltd.
- LatentView Analytics Private Limited
- Oracle Corporation
- SG Analytics, Inc.
- Mu Sigma Inc.
- Fractal Analytics Private Limited
Download Free Sample Report
Customers
can also request for 10% free customization on this report.
“The Global Data Science and
Predictive Analytics Market are experiencing robust growth, driven by the
increasing importance of data-driven decision-making. This dynamic market
offers a wide range of solutions and services to extract valuable insights from
data, enabling organizations to enhance operational efficiency and gain a
competitive edge. Key drivers include the explosion of big data, advancements
in AI and machine learning, industry-specific applications, and the adoption of
cloud-based deployment. Large enterprises, with their financial strength and
global reach, play a pivotal role in shaping the market. North America leads
the market due to technological innovation and early data-driven adoption. The
future promises continued growth and innovation as organizations embrace data
analytics for informed decision-making.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Data Science and
Predictive Analytics Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast, Segmented By Component (Solution, Service), By Deployment (Cloud,
and On-premise), By Enterprise Type (Large Enterprises, Small and Medium
Enterprises (SMEs)), By Application (Financial Risk Analysis, Marketing &
Sales Analysis, Customer Analysis, Supply Chain Analytics), By End User (BFSI,
Automotive, IT & Telecom, Healthcare, Retail, Energy & Utility,
Government, Others), By Region, and By Competition, 2018-2028,” has evaluated the future growth
potential of Global Data Science and Predictive Analytics Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Data Science and Predictive Analytics
Market.
Contact
Mr. Ken Mathews
Techsci Research LLC
420 Lexington Avenue, Suite 300,
New York, United States- 10170
Tel: +13322586602
Email: [email protected]
Website: www.techsciresearch.com