Predictive Analytics in Banking Market : Segmented By Application Type ; by Deployment Mode and Region – Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030

New York, June 17, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Predictive Analytics in Banking Market : Segmented By Application Type ; by Deployment Mode and Region – Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030” – https://www.reportlinker.com/p06191886/?utm_source=GNW
It contributes to risk assessment, regulatory management and customer relations management of financial organisations (CRM). Credit card companies could use predictive analyses to establish credit lines for customers. In order to set premium amounts insurance companies can use predictive analytics. The system can be used by government agencies to stop illicit practices.

Market Highlights
Global Predictive Analytics in Banking Market is expected to project a notable CAGR of 19.42% in 2030.
Global Predictive Analytics in Banking Market to surpass USD 10.07 billion by 2030 from USD 1.71 billion in 2020 at a CAGR of 19.42% in the coming years, i.e., 2021-30. In the last few years, the internet of things (IoT) has been one of the most valuable innovations for predictive analytics in banking industry trends, contributing to the launch of trillions of IoT-based operating systems across the world, which drives market growth. Moreover, the major drivers of global predictive analytics in the banking market growth were a substantial increase in illicit practices such as accounting fraud, money laundering, and payment card fraud. Moreover, the prediction of the incoming and outgoing property payments and client flow that is driving market growth has been helped by predictive analysis by banking and financial institutions.

Global Predictive Analytics in Banking Market: Segments
Customer Management segment to grow with the highest CAGR during 2020-30
Global Predictive Analytics in Banking Market is segmented by application Type into Fraud Detection and Prevention, Customer Management, Sales and Marketing, Workforce Management and Others. Based on the application, customer management accounts for more than 30% of the 2020 share and is expected to continue with its maximum share in global predictive analytical technology in the banking market by 2030. This is due to increasing needs in the banking sector for customer management. However, due to an increasing number of banking and financial institutions’ money transfers, the fraud detection & prevention sector is projected to register the highest CAGR from 2020 to 2030.

On premises segment to grow with the highest CAGR during 2020-30
Global Predictive Analytics in Banking Market is divided by deployment model into On-Premise and Cloud. On the basis of the deployment model, this on-premises sector accounted for almost 60% of the worldwide predictive analysis on the banking market, contributing to the largest market share in 2020 and is expected to maintain its dominant position throughout the projected timeframe. The quick delivery of predictive insights is attributed to the reduction of errors by automated technologies and measurement of quality. However, it is estimated that, due to the less dependence of organizations on IT resources, organizations are adopting cloud use, and its CAGR is the highest for the 2020-2030 period.

Market Dynamics
Drivers
Penetration of IoT
Millions of IoT devices worldwide are available and fraudulent activity, which includes money laundering, financial fraud, and card fraud, is on the increase, and property payments are forecast in and out of business and customers are boosting the growth of global banking predictive analytics. On the other side, increased demand for developed economies and the use of Artificial Intelligence (AI) in mobile banking applications are propelling the growth in future years.

Upsurge in illicit practices
The major drivers of global predictive analytics in the banking market growth were a substantial increase in illicit practices such as accounting fraud, money laundering, and payment card fraud. Moreover, the prediction of the incoming and outgoing property payments and client flow that is driving market growth has been helped by predictive analysis by banking and financial institutions.

Restraint
Implementation issues
Implementation and integration issues between banks and financial institutions hinder the market growth.

Global Predictive Analytics in Banking Market: Key Players
Alteryx Inc.

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

Tableau Software Inc.
KXEN
SAS Institute Inc.
TIBCO Software Inc
Microsoft corporation
SAP SE
Salford Systems
IBM Corporation
Oracle Corporation
FICO
Teradata Corporation
Other Prominent Players

Global Predictive Analytics in Banking Market: Regions
Global Predictive Analytics in Banking Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. On the basis of the region, North America had the highest growth market share of nearly 65% of global banking predictive analytics in 2020, and its leadership is anticipated to be retained during the projected timeframe. This is due to the government’s strict regulations measures in North America to ensure data security and security. However, the highest CAGR from 2020 to 2030 is forecasted at Asia-Pacific. This is because of deployments aimed at raising the company’s revenue and strengthening the organization’s decision-makers.

Global Predictive Analytics in Banking Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Predictive Analytics in Banking Market report also contains analysis on:

Predictive Analytics in Banking Segments:
By Application Type:
Fraud Detection and Prevention
Customer Management
Sales and Marketing
Workforce Management
Others
By Deployment Mode:
On-Premise
Cloud
Predictive Analytics in Banking Dynamics
Predictive Analytics in Banking Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Predictive Analytics in Banking Market Report Scope and Segmentation

Frequently Asked Questions
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Read the full report: https://www.reportlinker.com/p06191886/?utm_source=GNW

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