Prescriptive Analytics Market - Global Industry Analysis

Prescriptive Analytics Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Technology & Media Report Format : PDF Report Code: ZMR-6383 Status : Upcoming

Description

Global Prescriptive Analytics Market: Overview

Prescriptive analytics is a method that analyses the data and provides instantaneous recommendations to enhance business practices that can suit various predicted outcomes. It uses modeling structures for predicting the outcomes and then uses a combination of algorithms, artificial intelligence, business rules, and machine learning to simulate multiple methodologies to these various outcomes. It’s a natural progression from descriptive and predictive analytics procedures.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Prescriptive Analytics Market: Growth Factors

The global prescriptive analytics market is primarily driven by the surge in cloud-based predictive analytics demand. Further, with the rise in the amount of structured and unstructured data being generated, there is a growing necessity for analyzing data. In addition to this, there are huge investments in the development of the big data infrastructure. This is propelling the growth of the global market. Prescriptive analytics is the most efficient and smart tool available to support any organization’s business intelligence. It helps the organizations to lessen human error or bias, spend less time thinking & more time doing, inform real-time & long-term business operations, and easily maps the path to success. It also helps to create more loyal customers, meet business goals, increase efficiency, limit risk, prevents fraud, increase revenue, and gross margin management. Owing to such a broad spectrum of benefits offered by prescriptive analytics, there is an increase in the adoption of prescriptive analytics tools across several industrial sectors. In addition to this, the rise in the frequency of cyber-crimes, growing acceptance of real-time accessibility of data to improve productivity & sales several end-users are hugely demanding for Business Intelligence (BI) which in turn is boosting the growth of the global prescriptive analytics market. Furthermore, the emergence of technologically advanced tools and integration with IoT will have numerous opportunities for the growth of the global prescriptive analytics market over the forecast period. However, the dynamic nature of data and complicated analytical workflow may limit the growth of the global market.

The outbreak of Covid-19 has disrupted mostly everything including supply chain & consumer behavior and led to an economic crisis. However, the pandemic conditions have boosted the adoption of predictive analytics tools, especially in the healthcare sector. The pandemic has generated a large amount of data that has enabled healthcare providers and researchers to monitor patient populations and analyze trends. With the use of these tools, the organizations can understand better where the disease is likely to spike next, where resources are most needed, and which patients are at risk. Thus, predictive analytics is expected to play a significant role in monitoring the impact of the virus.

Global Prescriptive Analytics Market: Segmentation

The global prescriptive analytics market is segregated based on deployment mode, component, business function, vertical, and region. Based on the deployment mode, the global prescriptive analytics market is bifurcated into on-premises and cloud. The component segment is split into services and software. The business function comprises human resources, operations, finance, marketing, and sales. Based on the vertical, the global market is categorized into healthcare, government, media & entertainment, retail, IT & telecommunications, BFSI, transportation & logistics, and others.

Global Prescriptive Analytics Market: Regional Analysis

North America is estimated to dominate the global prescriptive analytics market and is expected to retain its dominance over the forecast period. Factors such as well-established IT infrastructure, the growing necessity of crime prediction, and the presence of major players are augmenting the growth of the market in this region. The European market is expected to grow at a significant rate. On the other hand, Asia Pacific is expected to grow with the highest CAGR and this is due to the growing adoption of cloud-based technologies, increase in demand for predictive analytics from the retail sector, and big data generated in large volumes.

Global Prescriptive Analytics Market: Competitive Players

Some of the key players that are operating in the global prescriptive analytics market are River Logic, Inc., Oracle Corporation, Infor, IBM Corporation, Fair, Isaac and Company (FICO), Tibco Software Inc., Teradata Corporation, SAS Institute Inc., SAP SE, and Salesforce.com Inc.

Global Prescriptive Analytics Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

Table Of Content

Choose License Type

Request the coronavirus impact analysis across industries and markets

FrequentlyAsked Questions

The global prescriptive analytics market is primarily driven by the surge in cloud-based predictive analytics demand. Further, with the rise in the amount of structured and unstructured data being generated, there is a growing necessity for analyzing data. In addition to this, there are huge investments in the development of the big data infrastructure. This is propelling the growth of the global market. Furthermore, the emergence of technologically advanced tools and integration with IoT will have numerous opportunities for the growth of the global prescriptive analytics market over the forecast period.

Some of the key players that are operating in the global prescriptive analytics market are River Logic, Inc., Oracle Corporation, Infor, IBM Corporation, Fair, Isaac and Company (FICO), Tibco Software Inc., Teradata Corporation, SAS Institute Inc., SAP SE, and Salesforce.com Inc.

North America is estimated to dominate the global prescriptive analytics market and is expected to retain its dominance over the forecast period. Factors such as well-established IT infrastructure, the growing necessity of crime prediction, and the presence of major players are augmenting the growth of the market in this region.

HappyClients

Office Address

Contact Us

Zion Market Research
Tel: +1 (844) 845-5245
USA/Canada Toll Free No.+1 (855) 465-4651

Asia Pacific Office

3rd Floor, Mrunal Paradise, Opp Maharaja Hotel, Pimple Gurav, Pune 411061, Maharashtra, India
Phone No 020-46277770

Contact #

US OFFICE NO +1 (844) 845-5245
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com

We Are On Social

Business Hours

Our support available to help you 24 hours a day, five days a week.

Monday - Friday: 9AM - 6PM

Saturday - Sunday: Closed