Global Prescriptive Analytics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Prescriptive Analytics Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global prescriptive analytics market report has been segmented on the basis of solution, organization size, deployment mode, industry vertical, and region.
Global Prescriptive Analytics Market: Overview
In simple terms, prescriptive analytics is a solution that takes results generated by predictive analytics and combines with certain rules in order to offer better outcomes. Prescriptive analytics provides recommendations regarding actions that can be taken to add values or advantage of the predictions.
Global Prescriptive Analytics Market: Dynamics
Increasing adoption of analytics technologies by various organization is rising awareness for prescriptive analytics owing to its ability to quantify the effect of future decisions in order to advise on possible outcomes. This is a major factor expected to fuel the growth of the global market over the forecast period.
Convergence of advanced technologies such as big data and Internet of things (IoT) is resulting into high adoption of analytical solutions among various industry verticals. Connected devices are surging demand for prescriptive analytical models owing to its ability to improve quality, enhance services, reduce cost, and increase productivity in manufacturing industries is a major factor to fuel growth of the target market in the coming 10 years.
Increasing inclination towards real-time accessibility of business data for efficient and high-performance business operations is bolstering the growth of prescriptive analytics among businesses across the globe.
However, diversity of legacy data models installed according to various business needs, lack of technical personnel, and complexity associated with analytical workflow are major factors that would hamper the growth of the global market to a certain extent.
Global Prescriptive Analytics Market: Segment Analysis
Among the deployment mode segments, the cloud segment is expected to dominate in the global market. Increasing adoption of cloud platforms, solutions, and services to maintain and analyze the huge amount of data among various industries is a key factor expected to drive the growth of the cloud segment in the near future.
The banking, financial services, and insurance segment is expected to register a high CAGR in the target market. This is primarily due to the growing demand for quick responsive systems in real-time events environment.
Global Prescriptive Analytics Market: Region Analysis
The prescriptive analytics market in Asia Pacific is projected to contribute highest revenue share in the global market owing to increasing adoption of prescriptive analytics by a number of small and medium scale enterprises in developing countries such as India and China in the region.
Countries in North America have high presence of prominent players operating in the global market. as well as increasing merger and acquisition activities among players to expand the company’s presence and increase product offerings are factors expected support growth of the global market in North America.
Global Prescriptive Analytics Market Segmentation:
Segmentation by Solution:
Segmentation by Organization Size:
- Large Enterprises
- Small and Medium-Sized Enterprises (SME’s)
Segmentation by Deployment Mode:
Segmentation by Industry Vertical:
- Energy and Utilities
- Media and Entertainment
- Transportation and Logistics
- Healthcare and Life Sciences
- Retail and Consumer Goods
- Banking, Financial Services, and Insurance
- Information Technology and Telecommunications
- Others (Government, Travel and Hospitality, Food & Beverage, Commercial, etc.)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Profitect, Inc.
- River Logic, Inc.
- IBM Corporation
- Tibco Software, Inc.
- Frontline Systems, Inc.
- Angoss Software Corporation
- Panoratio Database Images GmbH
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