The Europe Predictive Analytics Market would witness market growth of 21.3% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Predictive Analytics Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3,526.8 million by 2031. The UK market is exhibiting a CAGR of 20.2% during (2024 - 2031). Additionally, The France market would experience a CAGR of 22.2% during (2024 - 2031).
This is employed to forecast financial markets and investment trends. Predictive models help investors and financial institutions make informed decisions and manage investment portfolios by analyzing historical market data, economic indicators, and geopolitical events. Retailers use these to optimize shelf space and product placement.
In agriculture, these forecasts crop yields and optimize farming practices. By analyzing weather patterns, soil conditions, and historical crop performance, predictive models help farmers make data-driven decisions to enhance productivity and reduce waste. This enhances fraud detection in the insurance industry by analyzing claims data and identifying unusual patterns.
The Swedish government’s initiatives to promote Industry 4.0, including substantial investments in digital infrastructure and smart manufacturing technologies, boosted the adoption of these to optimize production processes and improve efficiency. According to the International Trade Administration (ITA), Sweden has a strong and successful manufacturing/industrial engineering sector that accounts for 20 percent of the country’s GDP, or $110 billion, with advanced manufacturing bringing in approximately $38 billion. The sector accounts for 75% of Swedish exports. European transportation companies used predictive analytics to optimize logistics and supply chain operations, enabling efficient route planning, reducing fuel consumption, and lowering operational costs. According to Eurostat, the value added of transportation and storage services exceeded the pre-pandemic years and accounted for €527.5 billion in 2021. Thus, rising smart manufacturing and an increasing transportation industry are propelling the growth of the market.
Free Valuable Insights: The Global Predictive Analytics Market will Hit USD 54.6 Billion by 2031, at a CAGR of 21.7%
Based on Deployment Mode, the market is segmented into Cloud, and On-Premise. Based on Component, the market is segmented into Solution (Customer Analytics, Financial Analytics, Sales & Marketing Analytics, Risk Analytics, and Supply Chain Analytics), and Services (Professional, and Managed). Based on Organization Size, the market is segmented into Large Enterprise, and Small & Medium Enterprise. Based on Vertical, the market is segmented into BFSI, Healthcare, Manufacturing, Transportation & Logistics, Energy & Utilities, Government, Retail, and Telecom & IT. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By >Deployment Mode
By Component
By Organization Size
By Vertical
By Country
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