IMARC Group’s latest research report, titled “Prescriptive Analytics Market Report: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” The market reached a value of US$ 3.69 Billion in 2021. Looking forward, IMARC Group expects the global prescriptive analytics market to reach a value of US$ 13.23 Billion by 2027, exhibiting a CAGR of 22.50% during 2022-2027. Prescriptive analytics represents the branch of advanced analytics that examines data or content using various techniques, such as simulation, graph analysis, complex event processing, neural networks, recommendation engines, heuristics, machine learning (ML), etc. It is considered a valuable tool for reducing human error or bias, data-driven decision-making, optimizing the efficiency of operations, etc. Prescriptive analytics assists in providing a comprehensive and accurate form of data aggregation and analysis via algorithms. Consequently, it finds wide-ranging applications across several industries, including retail, healthcare, manufacturing, energy and utilities, transportation and logistics, media and entertainment, etc.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by component, deployment mode, business function, organization size and industry vertical.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Prescriptive Analytics Market
- Strategies of major players and product offerings
The increasing product adoption for allowing businesses to analyze data comprehensively and identify data-driven strategic decisions is primarily driving the prescriptive analytics market. Additionally, the rising utilization of prescriptive analytics in the banking, financial services, and insurance (BFSI) sector to flag and detect frauds, alert the bank, provide a recommended course of action, etc., is further catalyzing the market growth. Besides this, the inflating need for prescriptive analytics in the healthcare industry to assess pre-existing conditions of patients and implement specific preventative treatment plans accordingly is acting as another significant growth-inducing factor. Moreover, the growing consumer inclination towards cloud platforms and the expanding cloud data warehouses are also positively influencing the global market. Apart from this, the introduction of advanced technologies, including data mining, augmented and virtual reality, big data, etc., is anticipated to fuel the prescriptive analytics market over the forecasted period.
Key Players Included in Global Prescriptive Analytics Market Research Report:
- 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.
- Zebra Technologies Corporation
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COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup by Component:
Breakup by Deployment Mode:
Breakup by Business Function:
- Human Resources
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Industry Vertical:
- IT and Telecommunications
- Media and Entertainment
- Energy and Utilities
- Transportation and Logistics
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
TOC for the Prescriptive Analytics Market Research Report:
- Scope and Methodology
- Executive Summary
- Global Prescriptive Analytics Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Who we are:
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