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Data Science and Predictive Analytics Market Segmentation by Component (Solutions, Services, and Others); by Application (Financial Risk Analysis, Marketing & Sales Analysis, Customer Analysis, Supply Chain Analytics, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Data Science and Predictive Analytics Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Data Science and Predictive Analytics Market Highlights over 2022 – 2030

The global data science and predictive analytics market is estimated to grow at a significant CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing amount of big data, backed by increasing need for real-time data analysis. The increasing presence of large quantity of data in the banking, financial services, and insurance, along with pharmaceutical sector, is estimated to fuel the demand for data science and predictive analytics market. For instance, the total volume of data that is to be created worldwide by the end of 2026 is expected to reach close to 190 zettabytes. Predictive analytics is used to predict the market trends, such as, marketing, sales, social media, supply chain, and others, which is supportive in the growth of an organization. Large organizations are deploying predictive analytics to enhance their working and improve data management, which is estimated to boost the market growth.

Data Science and Predictive Analytics Market

The market is segmented by component into solution, service, and others, out of which, the service segment is anticipated to hold the notable share in the market over the forecast period on account of increasing need for technical skills and social media handling skills amongst various enterprises, which are provided by these services. On the basis of application, the market is segmented into financial risk analysis, marketing & sales analysis, customer analysis, supply chain analytics, and others, out of which, marketing & sales analysis is estimated to gain significant share over the forecast period, owing to the growing requirement of overlooking the sales of the enterprise. Marketing & sale requires expertise which is estimated to boost the segment growth. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Research Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Data Science and Predictive Analytics Market Regional Synopsis

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. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing adoption of predictive analysis in the growing technological sector in developing countries, such as, China, India, Japan, and others. The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the technical advancement in the region. Increasing application of large data amongst various end-user industries, including pharmaceutical, BFSI, IT & telecom, and others.

Data Science and Predictive Analytics Market

The global data science and predictive analytics market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global data science and predictive analytics market includes the following segments:

By Component

  • Solution
  • Services
  • Others

By Application

  • Financial Risk Analysis
  • Marketing & Sales Analysis
  • Customer Analysis
  • Supply Chain Analytics
  • Others

Growth Drivers

  • Increasing Use of Big Data
  • Growing Requirement of Market Analysis Amongst Enterprises

Challenges

  • Slow Adoption of Predictive Analytics

Top Featured Companies Dominating the Market

  • Google LLC
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Salesforce, Inc.
  • Teradata Corporation
  • SAS Institute Inc.
  • SAP India Private Limited
  • Oracle
  • BioSymetrics Inc
  • Cyclica Inc.
  • IBM Corporation
  • Microsoft Corporation

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