How will Predictive Analytics Market shape up in next five years?

(I-SoftwareNews.Com, July 02, 2018 ) The global case management market size is expected to grow from USD 4.79 Billion in 2017 to USD 7.62 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 9.7% during the forecast period.

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To ensure improvements in the operational efficiency and excellence, enterprises are looking for process management solutions; this is expected to be one of the main drivers for the growth of the market. The case management market is segmented by component, business function, deployment mode, organization size, vertical, and region. By component, the market is segmented into solution and services. The services segment is further subsegmented into managed services and professional services. The solution segment in the market is expected to have the larger market size during the forecast period. The market for the solution segment is expected to grow significantly, as individuals, organizations, law enforcement agencies, and government agencies are in high need of improving their business processes.

The managed services segment is expected to grow at a higher CAGR during the forecast period, as organizations are rapidly expanding their partner networks to deploy case management solutions across the globe. Therefore, the managed services segment is expected to grow at a higher CAGR during the forecast period. The professional services segment is estimated to have the larger market size in 2017.

Case management solutions have been deployed across various verticals, including Banking, Financial Services, and Insurance (BFSI); government; healthcare; IT and telecom; retail; manufacturing; and others. The retail vertical is expected to witness the highest CAGR during the forecast period, whereas the government vertical is estimated to have the largest market size in 2017.

The global case management market has been segmented on the basis of regions into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America to provide a region-specific analysis in the report. North America, followed by Europe, is estimated to become the largest revenue generating region for case management providers in 2017. Improvements in the operational efficiency and excellence are expected to be one of the key factors fueling the growth of the market in North America.

The APAC case management market expected to gain significant traction during the forecast period, as organizations of all size are deploying case management solutions to deal with unstructured business processes. Government agencies, various Small and Medium-sized Enterprises (SMEs), and large enterprises in the APAC region are adopting case management solutions to handle their business processes.

However, several organizations are resistant to shift from legacy systems to new technologies; this may restrict the case management market growth. The major vendors that offer case management solutions and services across the globe are Pegasystems (US), Appian (US), IBM (US), Newgen Software (India), DST Systems (US), Dell Technologies (US), AINS (US), Pulpstream (US), and Kofax (US). These vendors have adopted various types of organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and acquisitions, to expand their offerings in the market.

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How will Predictive Analytics Market shape up in next five years?