Asia Pacific Predictive Analytics Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component [Solution (Risk Analytics, Marketing Analytics, Sales Analytics, Customer Analytics, and Others) and Service], Deployment Mode (On-Premise and Cloud-Based), Organization Size [Small and Medium Enterprises (SMEs) and Large Enterprises], and Industry Vertical (IT & Telecom, BFSI, Energy & Utilities, Government and Defence, Retail and e-Commerce, Manufacturing, and Others)
The predictive analytics market in Asia Pacific is expected to grow from US$ 2,893.78 million in 2022 to US$ 9,597.20 million by 2028. It is estimated to grow at a CAGR of 22.1% from 2022 to 2028.
Emergence of AIoT Technologies
The artificial intelligence of things (AIoT) is the combination of artificial intelligence (AI) technologies and the internet of things (IoT) infrastructure. AIoT aims to create more efficient IoT operations, improve human-machine interaction, and improve data management and analysis. AI is the simulation of human intelligence processes by machines, especially computer systems, and is commonly used in natural language processing, speech recognition, and machine vision. IoT is a system of interdependent computing devices, mechanical and digital machines, or objects with unique identifiers and the ability to transmit data over a network without requiring human-to-human or human-to-computer interaction. AIoT is transformative and mutually beneficial for both types of technologies, as AI adds value to IoT through machine learning capabilities and enhances decision-making, while IoT adds value to AI through connectivity, signaling, and data exchange. AIoT can improve businesses and services by creating more value from IoT-generated data. AI enables the IoT device to use collected big data to analyze, learn, and make better decisions without the need for humans. With the integration of AI, IoT creates a much smarter system. The aim of having these systems is to make accurate judgments without the need for human intervention. One of the biggest possible innovations in AIoT is the inclusion of 5G. 5G is designed to enable faster transmission of large data files in IoT devices through higher bandwidth and lower latency. AIoT can help solve existing operational problems, such as the costs associated with effective human capital management or the complexity of supply chains and delivery models, providing a lucrative opportunity for the growth of the predictive analytics market.
The predictive analytics market in APAC is sub segmented into China, India, Japan, Australia, South Korea, and the Rest of APAC. The market in APAC is driven by the wide adoption of Big Data analytics tools in the region, which help manage and analyze huge volumes of data to develop some understanding and make necessary predictions or analyses. Furthermore, a surge in technological advancements, and the launch of new analytical tools and techniques by major vendors are expected to create lucrative opportunities for the predictive analytics market in APAC during the forecast period. However, the lack of skilled professionals to study the data and derive predictions from it may hinder the growth of the market in the coming years. In addition, the limited awareness and adoption in several countries in the region is also hindering the predictive analytics market growth in APAC.
Asia Pacific Predictive Analytics Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific Predictive Analytics Market Segmentation
The Asia Pacific predictive analytics market is segmented into component, deployment mode, organization size, industry vertical, and country.
Based on component, the market is segmented into solution and service. By solution, the market is sub segmented into risk analytics, marketing analytics, sales analytics, customer analytics, and others. The solution segment registered the largest market share in 2022.
Based on deployment mode, the market is segmented into on-premise and cloud-based. The on -premise segment held a larger market share in 2022.
Based on organization size, the market is segmented into small and medium enterprises (SMEs) and large enterprises. The large enterprises segment held the larger market share in 2022.
Based on industry vertical, the market is segmented into IT & Telecom, BFSI, energy & utilities, government and defence, retail and e-commerce, manufacturing, and others. The BFSI segment held the largest market share in 2022.
Based on country, the market is segmented into China , Japan ,India , Australia ,South Korea , Rest of Asia Pacific. China dominated the market share in 2022.
IBM Corporation; Microsoft Corporation ; Oracle Corporation; SAP SE; Google LLC; SAS Institute Inc.; Salesforce.com, inc.; Amazon Web Services; Hewlett Packard Enterprise Development LP (HPE) ; and NTT DATA Corporation are the leading companies operating in the predictive analytics market in the region.
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