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The global prescriptive analytics market was valued at US$ 3.69 Billion in 2021.
We expect the global prescriptive analytics market to exhibit a CAGR of 22.50% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of prescriptive analytics to assess pre-existing conditions of patients, determine the risk for developing future conditions, and implement specific preventative treatment plans for the coronavirus infection.
The rising deployment of prescriptive analytics across the BFSI sector to detect and flag frauds, alert the bank, and provide a recommended course of action, is primarily driving the global prescriptive analytics market.
Based on the component, the global prescriptive analytics market can be categorized into software and services, where software currently exhibits clear dominance in the market.
Based on the deployment mode, the global prescriptive analytics market has been segmented into on-premises and cloud-based. Currently, on-premises hold the largest market share.
Based on the industry vertical, the global prescriptive analytics market can be bifurcated into BFSI, healthcare, IT and telecommunications, retail, media and entertainment, manufacturing, energy and utilities, transportation and logistics, government, and others. Among these, the BFSI sector accounts for the majority of the total market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global prescriptive analytics market include 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.
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