Though the predictive analytics market in Latin America is still at a nascent stage, it is expected to grow significantly during the forecast period. Countries such as Brazil, Colombia, Argentina, Chile, and Peru have good market opportunities. Many countries are struggling in this market due to the lack of advanced technologies and budget constraints. Companies in this region are planning to invest heavily in cost-effective analytics solutions and services. This would help predictive analytics providers to create revenue increasing opportunities for themselves. With organizations in this region planning to invest heavily in cost-effective analytics solutions, the predictive analytics market has a huge scope for development. This has opened opportunities for North American companies to expand their presence in this region. Brazil, Mexico, and Chile are the countries, where the penetration of solutions is high, in comparison to the other countries of the region. In Brazil, the increasing income levels, particularly among the younger population, demonstrate the growing socio-economic strata of the people in the country. Brazil is among the countries that have an enormous dependence on the manufacturing sector and is witnessing the increasing internet adoption as well. With organizations in Latin America planning to invest heavily in cost-effective analytics solutions and services, the predictive analytics market has a huge scope for development. However, the lack of skilled workforce to support technologies is expected to hinder the market growth to some extent.