Middle East & Africa 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 Middle East & Africa is expected to grow from US$ 521.31 million in 2022 to US$ 1,281.91 million by 2028. It is estimated to grow at a CAGR of 16.2% from 2022 to 2028.
Expansion of Dark Data
Dark data is the data that a company does not use in any of its analytics systems. The data is gathered from several network operations that are not used to determine insights or to predict. Organizations might consider dark data inaccurate as it does not provide the exact result. But they know that this will be a valuable thing. As the data is expanding daily, the industry must understand that any undiscovered data can pose a security risk. Dark data analytics is a software or solution that enables organizations to better locate, identify, and leverage previously unknown data to make important business decisions. According to the State of Dark Data report, respondents see analytics as a key solution that can better address the growing challenges of dark data and enable a wider range of non-technical employees to understand the organization's needs. These advantages of dark data analytics solutions are expected to propel the predictive analytics market in the coming years.
The predictive analytics market in the MEA is sub segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The Saudi Arabian Data and Artificial Intelligence Agency (SDAIA) has launched a national AI policy to lead the country's transformation into a data-driven economy. In addition, the Vision 2030 of the Saudi Arabian government is aimed at creating sustainable cities and ensuring optimal use of resources in important segments of the economy. This further highlights the importance of AI and automation in boosting the skills of the workforce. Further, the country plans to launch education reforms to prepare its future workforce with hands-on experience in AI and digital technologies. As a result, the development of AI will enhance its use in data analysis and predictive analytics.
Middle East & Africa Predictive Analytics Market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa Predictive Analytics Market Segmentation
The Middle East & Africa 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 Saudi Arabia , UAE , South Africa and Rest of Middle East & Africa. Saudi Arabia 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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