According to IMARC Group latest report titled “Predictive Analytics in Banking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on predictive analytics in banking market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global predictive analytics in banking market size reached US$ 4.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 18.0 Billion by 2032, exhibiting a growth rate (CAGR) of 16.83% during 2024-2032.

Request a Free Sample Report: https://www.imarcgroup.com/predictive-analytics-in-banking-market/requestsample

Predictive analytics in banking refers to the application of statistical and machine learning techniques to analyze current and historical data, aiming to make accurate predictions about future events and trends in the banking sector. This technology encompasses various types, such as risk analytics, customer analytics, and fraud analytics, each focusing on different aspects of banking operations. Predictive analytics tools in banking leverage large volumes of data to identify patterns, assess risks, enhance customer experience, and optimize financial products. Additionally, the advantages of employing predictive analytics in banking are manifold. It enhances decision-making, reduces risks associated with lending, targets marketing efforts more effectively, and predicts customer behavior.

Market Trends:

The global market is experiencing significant growth, driven by the increasing volume of data generated by banking transactions and customer interactions, as it provides a rich source for analytics. Along with this, the growing emphasis on risk management, spurred by regulatory compliance requirements, is encouraging banks to adopt predictive analytics for credit scoring, fraud detection, and managing operational risks. In addition, the rise in digital banking and the need for personalized customer experiences are further fueling market growth. Banks are leveraging predictive analytics to understand customer preferences and tailor products and services accordingly. Apart from this, technological advancements, such as the integration of AI and machine learning, are enabling more sophisticated and accurate predictive models. Furthermore, the competitive landscape in the banking sector is compelling banks to adopt innovative technologies like predictive analytics to stay ahead. These drivers, coupled with the increasing investment in fintech and a supportive regulatory environment, are creating a positive market outlook.

View Full Report with TOC & List of Figure: https://www.imarcgroup.com/predictive-analytics-in-banking-market

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players operating in the market.

  • Alteryx Inc.
  • FICO
  • International Business Machines Corporation
  • Oracle Corporation
  • SAS Institute Inc.
  • Tableau Software Inc. (Salesforce Inc)
  • TIBCO Software Inc.

Key Market Segmentation:

Our report has categorized the market based on region, component, deployment model, organization size, and applications.

Component Insights:

  • Solutions
    • Procure- to- Pay Solutions
    • Supply and Risk Management
    • Travel and Expense Management
    • Contract and E-Tender Management
    • Spend Management/Spend Analytics
    • Others
  • Services
    • Managed Services
    • Professional Service

Deployment Model Insights:

  • Cloud-based
  • On-premises

Organization Size Insights:

  • Large Enterprises
  • Small and Medium-sized Enterprises

Application Insights:

  • Fraud Detection and Prevention
  • Customer Management
  • Sales and Marketing
  • Workforce Management
  • Others

Regional Insights:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Key Highlights of the Report:

  • Market Performance (2018-2023)
  • Market Outlook (2024-2032)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email: [email protected]

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163