Prescriptive Analytics Industry Size, Share, Growth, Analysis, Trend, and Forecast Research Report by 2027
Market Analysis
The global Prescriptive Analytics Industry size is
predicted to touch USD 2.47 billion at a 22.7% CAGR between 2020- 2027 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 Industry 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 Industry growth over
the forecast period.
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Market Segmentation
The MRFR report provides an inclusive
segmental analysis of the global Prescriptive Analytics Industry based on the
vertical, business sector, organization type, deployment, application, and
component.
By component, the global Prescriptive
Analytics Industry 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 Industry 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 Industry 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 Industry 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 Industry 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 Industry 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 Industry 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 Industry 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
Industry 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 Industry growth in the region.
The global Prescriptive Analytics
Industry 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.
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Key Players
Leading players profiled in the global Prescriptive
Analytics Industry 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.).
Read More: https://vlog1292.blogspot.com/2021/10/future-analysis-for-software-defined.html
Read More: https://writeonwall.com/anomaly-detection-market-trends-and-forecast-to-2027/
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