LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Predictive Analytics Market - Procurement Intelligence Report.
The spend growth in the predictive analytics market is primarily attributed to the growing demand from the BFSI and the retail sectors with the former accounting for the largest contribution towards the growth rate. The growing instances of data security threats and to execute functions like application screening and analysis of credit and collections are driving the category adoption in the BFSI sector. Buyers from the retail industry are leveraging predictive analytics to identify and track the current sales trends and devise their marketing campaigns accordingly. However, the recent predictive analytics market analysis hints at a decelerating spend momentum towards the end of the forecast period. This deceleration is a result of the category adoption rates by BFSI and retail sectors reaching maturity. Download the Free Sample of the predictive analytics market procurement intelligence report here!
In terms of regional spend growth rate, APAC will dominate over other regions. APAC credits this growth to the rapid rate of category adoption across the end-user industries such as manufacturing, BFSI, retail, and logistics. The predictive analytics market analysis in the US states that the growing demand from the healthcare sector will drive the adoption rate in the region. Focus on limiting operational expenditure on health insurance management and fraud detection is driving most of the healthcare organizations towards adopting predictive analytics.
This predictive analytics market procurement intelligence report offers a detailed overview of the key cost drivers and category management insights that can aid in devising a sustainable procurement strategy. This report also highlights the current supply market developments to help the buyers choose the appropriate vendors who can promise a steady supply assurance. Not what you are looking for? Request for free customization.
“Buyers are advised to conduct a TCO analysis that must factor in expenses associated with tools, maintenance, and upgrades,” says SpendEdge procurement expert Sumit Yadav.
This predictive analytics market procurement intelligence report has highlighted the following factors to play critical roles in influencing category spend. They include:
- Use of AaaS will yield significant cost savings
- Demand for predictive analytics from the BFSI sector will grow exorbitantly
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SpendEdge is now offering limited-time discounts on report purchases. Buy two reports and get the third one for free.
SpendEdge’s procurement market intelligence reports for the information technology category offer information on critical cost drivers and category pricing strategies to help the buyers achieve significant cost-savings. The supply market forecasts offer information on supplier performance benchmarking criteria to help buyers reduce spend and establish better SLAs. Additionally, SpendEdge’s reports offer category management insights and procurement best practices for the category.
Report scope snapshot: Predictive analytics
- Market favorability index for suppliers
- Competitiveness index for suppliers
- Threat of new entrants
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Category management enablers
- Procurement organization
- Category enablers
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- Category hierarchy
- Category scope
- Category map
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