Predictive Analytics Market Segmentation:
End-User Segment Analysis
The BFSI segment in the predictive analytics market is estimated to gain a share of about 41% in 2035, due to the surge in the adoption of digital payments. In recent times, digital payments have gained significant importance across the globe owing to the swift growth of e-banking and payment systems, as well as the proliferation of digital wallets and mobile payments.
Moreover, AI can evaluate transaction data and offer clients personalized services by utilizing predictive analytics, and banks use it to assess prospective borrowers' creditworthiness.
Additionally, as predictive analytics becomes more widespread, it may aid the BFSI industry in several ways, including fraud detection, targeted marketing, and collections management, amongst others. Banks use predictive analytics to identify potential frauds and take necessary action to stop them from happening by analyzing transaction patterns and client behavior.
Besides this, predictive analytics can be used by banks to find potential new business possibilities and make better choices regarding credit and investment products. Therefore, the use of predictive analytics in BFSI is set to rise in the energy sector.
Solution Segment Analysis
The consumer analytics segment in the predictive analytics market is set to garner a notable share. The market expansion is led by the substantial growth in demand for consumers to produce vast amounts of data from many sources, including social media platforms, e-commerce websites, and many more.
Predictive analytics is the key to the consumer experience of the future since it helps in analyzing customers' past behavior and projecting their future behavior by making use of statistical algorithms, machine learning, and historical data.
Moreover, predictive analytics helps businesses meet customer demand without overstocking warehouses by using previously obtained data and trends to forecast customers' wants, desires, and potential difficulties. Additionally, the surge in demand for data processing solutions and technology is also projected to impact segment growth.
Our in-depth analysis of the global predictive analytics market includes the following segments:
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