Market Analysis
The global prescriptive analytics market size is
predicted to touch USD 2.47 billion at a 22.7% CAGR between 2015- 2022 states
the recent Market Research Future (MRFR) analysis. Prescriptive analytics or
business analytics includes predictive and descriptive analytics that offer
optimal recommendations at the time of decision-making process and also
determine methods in which the business process must be modified.
Various factors are propelling the
global prescriptive analytics market share. As per the current MRFR report,
such factors include increasing BYOD trend, the growing importance of mobile
enterprise application platform, the proliferation of in-memory computing,
data-driven decision-making, and growing demand for comprehensive market
analytics solutions among business worldwide for product differentiative
solutions. Additional factors adding market growth include increasing use of
adopted devices like smartphones, sensors, and robots, increasing use in smart
organizations and production facilities, the advent of the internet of things,
emergence of advanced technologies, and demand for real-time analytics.
On the contrary, complexity related to
analytical workflow, lack of technical personnel, and COVID-19 impact are
factors that may limit the global prescriptive analytics market growth over the
forecast period.
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Market Segmentation
The MRFR report provides an inclusive
segmental analysis of the global prescriptive analytics market based on the
vertical, business sector, organization type, deployment, application, and
component.
By component, the global prescriptive
analytics market is segmented into services and software. Of these, the
services segment will lead the market over the forecast period.
By application, the global prescriptive
analytics market is segmented into supply chain management, network management,
revenue management, operation management, and others. Of these, the supply
chain management will dominate the market over the forecast period.
By deployment, the global prescriptive
analytics market is segmented into on premise and on-cloud. Of these, the on
premise segment will spearhead the market over the forecast period.
By organization type, the global
prescriptive analytics market is segmented into large business units and SME.
Of these, the large business units will have a major share in the market over
the forecast period.
By business sector, the global
prescriptive analytics market is segmented into sales, operations, finance,
marketing, and HR. Of these, operations will have lions share in the market
over the forecast period.
By vertical, the global prescriptive
analytics market is segmented into government, transportation, healthcare,
IT/ITES, BFSI, and manufacturing. Of these, the BFSI segment will hold the
largest share in the market over the forecast period.
Regional Analysis
Based on the region, the prescriptive
analytics market report covers the recent trends and growth opportunities
across North America, the Asia Pacific (APAC), Europe, & the Rest of the
World (RoW). Of these, North America will have the lions share in the market
over the forecast period. The growing need for analytical marketing solutions,
rising adoption of analytical framework among players, increasing number of
players operating in the region, and increasing use among businesses for the
presence of well-developed IT infrastructure are adding to the global
prescriptive analytics market growth in the region. Besides, an increasing
number of mergers and acquisitions by top players in the region are also adding
market growth.
The global prescriptive analytics
market in the APAC region is predicted to grow at a fast pace over the forecast
period. Rising adoption by several SMEs in India & China is adding to the
global prescriptive analytics market growth in the region.
The global prescriptive analytics
market in Europe is predicted to have healthy growth over the forecast period
while that in the RoW is predicted to have sound growth over the forecast
period.
Key Players
Leading players profiled in the global
prescriptive analytics market report include NGData (Belgium), TIBCO Software
(U.S.), Panoratio (Germany), Profitect (U.S.), Frontline (U.S.), Angoss
Software (U.S.), River Logic, Inc. (U.S.), IBM Corporation (U.S.), Ayata
(U.S.), and FICO (U.S.).
Browse More Information:
https://www.marketresearchfuture.com/reports/prescriptive-analytics-market-2613
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