Prescriptive Analytics Market Size, Global Industry Analysis, Share, Trends, Growth Factors, Competitive Landscape, Opportunities and Regional Forecast 2022

Market Research Future published a research report on “Prescriptive Analytics Market Research Report- Global Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.

Pune, India - August 6, 2018 /MarketersMedia/ —

Market Scenario:

Prescriptive Analytics is a form of advance analytics that is used for making an optimum decisions regarding the way to handle specific situations by considering all the situation and available resources. These analytics work along with predictive analytics that are used to determine the future performance based on the current and the historical data. Prescriptive Analytics are used for taking improved business decisions, despite of uncertainty and changing conditions, and it also help companies determine what action to take. For illustration: prescriptive analytics can be used to evaluate whether a local fire department should require residents to evacuate a particular area when a wildfire is burning in the area. By analyzing these data department can make the optimum decision.

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The study indicates that rising popularity of automated business decisions and massive investments done by various firms helps to expand the addressable market for prescriptive analytics. The increase in cyber-crime results in the huge data loss for an organization, influences the demand of prescriptive analytics. These loss of data in the organization is an increasing concerns due to the growing internet security breaches. Whereas, the emergence of Big Data and IoT and the increasing demand of accessing real time data acts as major driving factor for the growth of Prescriptive Analytics Market. Moreover, the growing demand of machine learning is also promoting the growth of the Prescriptive Analytics Market.

The factors hindering the growth of the prescriptive analytics market are the complex analytics workflow and the lack of skilled manpower with advance analytics knowledge. The global market of prescriptive analytics will reach upto 2.47 Billion by the year 2022, and is expected to grow at a CAGR of ~22.7% by the end of the forecasted period.

Key Players

The prominent players in the Prescriptive Analytics Market are – FICO (U.S.), Ayata (U.S.), IBM Corporation (U.S.), River Logic, Inc. (U.S.), Angoss Software (U.S.), Frontline (U.S.), Profitect (U.S.), Panoratio (Germany), TIBCO Software (U.S.), NGData (Belgium) and among others.

Prescriptive Analytics Global Market - Segmentation

The Prescriptive Analytics market can be segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;

• Segmentation by Components: Software and Services.
• Segmentation by Application: Operation Management, Revenue Management, Network Management, Supply Chain Management and among others.
• Segmentation by Organization Type: On-Cloud and On Premise
• Segmentation by Deployment: SMEs and Large Enterprises
• Segmentation by Business Sector: HR, Marketing, Finance, Operations, Sales and Others.
• Segmentation by Vertical: Manufacturing, BFSI, IT/ITES, Healthcare, Transportation, Government and Others.
• Segmentation by Regions: Geographical regions - North America, Europe, Asia Pacific and Rest of the World.

Prescriptive Analytics Global Market - Regional Analysis

North America is dominating the global prescriptive analytics market with the largest market share due to rising popularity of automated business decisions and huge investments done by various companies, to expand the addressable market for prescriptive analytics, which are gaining demand in prescriptive analytics market and is expected to gain growth by 2023. Global Prescriptive Analytics market in European market is expected to grow at a substantial high CAGR during 2017 to 2023 due to the growing internet security breaches. Asia Pacific market for prescriptive analytics market is expected to grow at a considerable CAGR (2017-2023).

Prescriptive Analytics Global Market - Competitive Analysis

The market of prescriptive analytics appears to be highly competitive. To maintain the market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio.

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Intended Audience

• Government Organizations
• Business Analytics Software Providers
• Enterprise users
• Commercial users
• Cloud Service Providers
• IT Service Providers
• Application Design and Software Developers
• Software Vendors
• Industrial users
• Technology investors
• System Integrators
• Research/Consultancy firms
• Independent

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Release ID: 389348