At a CAGR of 26.6% Prescriptive Analytics Market Size to Garner $12.35 billion by 2026
Emergence of new technologies including big data and IoT, and increase in demand for cloud-based predictive analytics drive the growth of the global market.
PORTLAND, PORTLAND, OR , UNITED STATES, August 9, 2021 /EINPresswire.com/ — Developed in advanced technologies such as IoT, big data and increasing access to real-time accessibility of data and services for various business application. In addition, increasing rate of cyber-crimes which resulted in an increasing need for crime prediction and prevention and the rising popularity of automated business decision implemented across various organization verticals are enhancing the growth of this market.
The global prescriptive analytics market generated $1.96 billion in 2018, and is anticipated to reach $12.35 billion by 2026, registering at a CAGR of 26.6% from 2019 to 2026.
The global prescriptive analytics market segmentation includes component, business function, deployment, industry vertical, and region. Based on business function, the market is divided into human resources, sales, marketing, finance, and operations. The operations segment held the largest market share in the global prescriptive analytics market, accounting for nearly one-third of the total market share in 2018, and is expected to maintain its lead position throughout the forecast period. However, the marketing segment is anticipated to grow the fastest CAGR of 28.6% from 2019 to 2026.
Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The region across North America held the largest market share in 2018, contributing to nearly two-fifths of the global prescriptive analytics market. In contrary, the Asia-Pacific region is expected to portray the largest CAGR of 29.5% from 2019 to 2026.
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Based on industry vertical, the market is segmented into healthcare, BFSI, IT and telecommunications, retail, media and entertainment, manufacturing, energy and utilities, transportation and logistics, government, and others, and others. The BFSI segment contributed for nearly one-fifth of the total share of the global prescriptive analytics market in 2018, and is expected to dominate in terms of revenue during the forecast period. However, the manufacturing segment is anticipated to register the fastest CAGR of 30.1% from 2019 to 2026.
Profiling Key Players: IBM Corporation, Infor, Oracle Corporation, River Logic, Inc., Salesforce.com Inc, Teradata Corporation, Fair, Isaac and Company (FICO), SAP SE, SAS Institute Inc., and Tibco Software Inc.
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Highlights of the report:
1. Comprehensive assessment of all opportunities and risk in the global market.
2. Prescriptive analytics recent innovations and major events.
3. Detailed study of business strategies for growth of the prescriptive analytics market-leading players.
4. Conclusive study about the growth plot of prescriptive analytics market for forthcoming years.
5. In-depth understanding of prescriptive analytics market -particular drivers, constraints, and major micro markets.
6. Favourable impression inside vital technological and market latest trends striking the prescriptive analytics market.
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