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Prescriptive Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
Report Format: PDF+Excel | Report ID: SR112023A5394
Market Overview:
The global prescriptive analytics market reached a value of US$ 3.69 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 13.23 Billion by 2027, exhibiting a CAGR of 22.50% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Prescriptive analytics examines data or content using different techniques, such as graph analysis, simulation, complex event processing, neural networks, recommendation engines, heuristics, and machine learning (ML). It is considered a valuable tool in businesses for data-driven decision-making, reducing human error or bias, and optimizing the efficiency of numerous operations. It also helps provide a comprehensive and accurate form of data aggregation and analysis through advanced algorithms and technologies.
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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Prescriptive Analytics Market Trends:
Due to the sheer amount of data available to companies, it has become easier to leverage information collected to drive real business value. This represents one of the key factors driving the demand for prescriptive analytics to allow businesses to analyze data comprehensively and identify data-driven strategic decisions. Moreover, due to the increasing volume of data stored in the system of a bank, manually detecting suspicious activities has become a strenuous task with standard data analytics practices. As a result, there is a rise in the adoption of prescriptive analytics in the banking, financial services, and insurance (BFSI) sector to detect and flag frauds, alert the bank, and provide a recommended course of action. Besides this, prescriptive analytics can be used to assess pre-existing conditions of patients, determine their risk for developing future conditions, and implement specific preventative treatment plans accordingly. This, in confluence with the growing focus on providing improved and quality care to patients, is catalyzing the demand for prescriptive analytics in the healthcare industry. Apart from this, with the increasing shift to cloud platforms and the expanding cloud data warehouses worldwide, prescriptive analytics is becoming more user-friendly by allowing businesses to gain accurate, secure, and real-time data.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global prescriptive analytics market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, deployment mode, business function, organization size and industry vertical.
Breakup by Component:
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- Software
- Services
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Business Function:
- Operations
- Sales
- Marketing
- Finance
- Human Resources
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Industry Vertical:
- BFSI
- Healthcare
- IT and Telecommunications
- Retail
- Media and Entertainment
- Manufacturing
- Energy and Utilities
- Transportation and Logistics
- Government
- Others
Breakup by Region:
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- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Altair Engineering Inc., Alteryx Inc., Fair Isaac Corporation, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, River Logic Inc., Salesforce Inc., SAP SE, SAS Institute Inc., Teradata Corporation, TIBCO Software Inc. and Zebra Technologies Corporation.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Component, Deployment Mode, Business Function, Organization Size, Industry Vertical, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Altair Engineering Inc., Alteryx Inc., Fair Isaac Corporation, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, River Logic Inc., Salesforce Inc., SAP SE, SAS Institute Inc., Teradata Corporation, TIBCO Software Inc. and Zebra Technologies Corporation. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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