Predictive analytics market forecast worldwide 2016-2022

As of 2019, forecasts suggest that the predictive analytics market will reach over six billion U.S. dollars in total revenue. By 2022 the market is expected to reach nearly 11 billion dollars in annual revenue as an increasingly large number of businesses make use of predictive analytics techniques for everything from fraud detection to medical diagnosis.

Predictive analytics

The field of predictive analytics involves the use of various statistical methods and models within businesses to make predictions about a wide range of future outcomes. Predictive analytical analysis is already one of the most widely adopted intelligent automation technologies in the world, with over 80 percent of major enterprises deploying smart analytics that include predictive analytics. As business interactions around the world become increasingly digitalized, massive amounts of data are created which can be evaluated through predictive analytics tools in order to give users a better understanding of market dynamics and underlying trends. Considering this, it is no surprise that predictive models rank as the one of the top big data technology trends around the world.