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What is the current size and annual growth rate of the predictive analytics in banking market?
The predictive analytics in banking market size has grown exponentially in recent years. It will grow from $3.84 billion in 2024 to $4.64 billion in 2025 at a compound annual growth rate (CAGR) of 21.0%. The growth in the historic period can be attributed to credit risk assessment, fraud detection and prevention, customer segmentation and personalization, regulatory compliance and operational efficiency.
The predictive analytics in banking market size is expected to see exponential growth in the next few years. It will grow to $9.85 billion in 2029 at a compound annual growth rate (CAGR) of 20.7%. The growth in the forecast period can be attributed to artificial intelligence and machine learning, big data and real-time analytics, regulatory pressure and compliance, customer expectations for personalization and cybersecurity and fraud prevention. Major trends in the forecast period include enhanced customer experience through personalization, integration of AI and machine learning for advanced predictive models, real-time predictive analytics for instant decision-making, increased focus on cybersecurity and fraud prevention and regulatory compliance and risk management.
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Which major factors have contributed to the expansion of the predictive analytics in banking market?
The rising incidence of fraudulent activities is expected to propel the growth of predictive analytics in the banking market going forward. Fraudulent activities refer to intentional actions or schemes designed to deceive, manipulate, or mislead individuals or organizations for personal or financial gain. Fraudulent activities in the banking sector are rising, with increasing cyberattacks and the growing use of digital banking services. Predictive analytics in banking helps reduce fraudulent activities by using advanced algorithms to identify and flag unusual patterns and behaviors in real time, enabling proactive fraud detection and prevention. For instance, in February 2024, according to the Federal Trade Commission, a US-based government agency, consumers lost over $10 billion to fraud in 2023, reflecting a 14% increase from the previous year’s reported losses. Therefore, the rising incidence of fraudulent activities is driving the growth of predictive analytics in the banking market.
How is the predictive analytics in banking market segmented?
The predictive analytics in banking market covered in this report is segmented –
1) By Type: Marketing; Sales; Finance; Human resource; Operations
2) By Component: Solution; Services
3) By Deployment Model: On-Premise; Cloud
4) By Application: Small And Medium Enterprises (SMES); Large Enterprises
Subsegments:
1) By Marketing: Customer Segmentation And Targeting; Campaign Management And Optimization; Customer Lifetime Value Prediction; Churn Prediction and Retention Strategies; Market Trend Analysis; Brand Sentiment Analysis
2) By Sales: Lead Scoring and Opportunity Management; Sales Forecasting And Trend Analysis; Cross-Selling And Up-Selling Strategies; Sales Performance Optimization; Conversion Rate Prediction; Territory Management
3) By Finance: Credit Scoring And Risk Assessment; Fraud Detection And Prevention; Financial Forecasting and Budgeting; Loan Default Prediction; Asset Management And Investment Analysis; Regulatory Compliance Analytics
4) By Human Resource: Employee Attrition Prediction; Talent Acquisition And Recruitment Optimization; Workforce Planning And Optimization; Employee Performance Analytics; Learning and Development Needs Prediction; Compensation And Benefits Analysis
5) By Operations: Process Efficiency Optimization; Operational Cost Prediction And Management; Resource Allocation And Scheduling; Transaction Monitoring And Anomaly Detection; Supply Chain Management Optimization; Automation Of Operational Tasks
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Who are the top competitors in the predictive analytics in banking market?
Major companies operating in the predictive analytics in banking market areMicrosoft Corporation, Amazon Web Services Inc., International Business Machines Corporation, Oracle Corporation, SAS Institute Inc., Turing Analytics, Databricks Inc., Alteryx Inc., H2O.ai, EdgeVerve Systems Limited, Google Cloud, Dataiku, Datarobot Inc., Feature Labs, KNIME, Altair Engineering Inc., Rasa, Peltarion, Auger.AI, BigML, Big Squid Inc, dotData Inc., Determined.ai Inc., Turi
How will emerging trends drive the predictive analytics in banking market throughout the forecast period?
Major companies operating in the predictive analytics in banking market are developing innovative solutions such as artificial intelligence (AI)-powered data analytics platforms to analyze businesses and interpret data, enabling faster insights and more informed decision-making. AI-powered data analytics platforms enhance banking by utilizing advanced data processing, predictive modeling, and pattern recognition to optimize risk management, personalize customer experiences, detect fraud, streamline operations, and uncover new growth opportunities. For instance, in March 2024, TransUnion, a US-based information technology company, launched OneTru, an AI-powered data analytics platform, to enhance data access and decision-making for financial institutions. This cloud-based platform integrates data analytics, credit risk assessment, and fraud detection solutions into a unified portal, leveraging artificial intelligence and machine learning. OneTru consolidates fragmented data sources, allowing users to access credit bureau, consumer identity, and marketing data in a streamlined manner. This integration is designed to improve the speed and quality of analytics, facilitating quicker insights and client decision-making processes.
Which regional trends are influencing the predictive analytics in banking market, and which area dominates the industry?
North America was the largest region in the predictive analytics in banking market in 2024. The regions covered in the predictive analytics in banking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Predictive Analytics in Banking Market Report 2025 Offer?
The predictive analytics in banking market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Predictive analytics in banking refers to the application of advanced analytical techniques, including statistical analysis, machine learning, and data mining, to analyze historical and current data to forecast future trends and behaviors. This approach enables financial institutions to make informed decisions based on predictions about customer behavior, market conditions, and potential risks.
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