Market Analysis

The global Prescriptive Analytics Market Analysis size is predicted to touch USD 2.47 billion at a 22.7% CAGR between 2021- 2027 states the recent Market Research Future (MRFR) analysis. Prescriptive analytics or business analytics includes predictive and descriptive analytics that offer optimal recommendations at the time of decision-making process and also determine methods in which the business process must be modified.

Various factors are propelling the global prescriptive analytics market share. As per the current MRFR report, such factors include increasing BYOD trend, the growing importance of mobile enterprise application platform, the proliferation of in-memory computing, data-driven decision-making, and growing demand for comprehensive market analytics solutions among business worldwide for product differentiative solutions. Additional factors adding market growth include increasing use of adopted devices like smartphones, sensors, and robots, increasing use in smart organizations and production facilities, the advent of the internet of things, emergence of advanced technologies, and demand for real-time analytics.

On the contrary, complexity related to analytical workflow, lack of technical personnel, and COVID-19 impact are factors that may limit the global prescriptive analytics market growth over the forecast period.

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Market Segmentation

The MRFR report provides an inclusive segmental analysis of the global prescriptive analytics market based on the vertical, business sector, organization type, deployment, application, and component.

• By component, the global prescriptive analytics market is segmented into services and software. Of these, the services segment will lead the market over the forecast period.

• By application, the global prescriptive analytics market is segmented into supply chain management, network management, revenue management, operation management, and others. Of these, the supply chain management will dominate the market over the forecast period.

• By deployment, the global prescriptive analytics market is segmented into on premise and on-cloud. Of these, the on premise segment will spearhead the market over the forecast period.

• By organization type, the global Prescriptive Analytics Market Analysis is segmented into large business units and SME. Of these, the large business units will have a major share in the market over the forecast period.

• By business sector, the global prescriptive analytics market is segmented into sales, operations, finance, marketing, and HR. Of these, operations will have lions share in the market over the forecast period.

• By vertical, the global Prescriptive Analytics Market Analysis is segmented into government, transportation, healthcare, IT/ITES, BFSI, and manufacturing. Of these, the BFSI segment will hold the largest share in the market over the forecast period.

Regional Analysis

Based on the region, the prescriptive analytics market report covers the recent trends and growth opportunities across North America, the Asia Pacific (APAC), Europe, & the Rest of the World (RoW). Of these, North America will have the lions share in the market over the forecast period. The growing need for analytical marketing solutions, rising adoption of analytical framework among players, increasing number of players operating in the region, and increasing use among businesses for the presence of well-developed IT infrastructure are adding to the global prescriptive analytics market growth in the region. Besides, an increasing number of mergers and acquisitions by top players in the region are also adding market growth.

The global prescriptive analytics market in the APAC region is predicted to grow at a fast pace over the forecast period. Rising adoption by several SMEs in India & China is adding to the global prescriptive analytics market growth in the region.

The global prescriptive analytics market in Europe is predicted to have healthy growth over the forecast period while that in the RoW is predicted to have sound growth over the forecast period.

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Key Players

Leading players profiled in the global prescriptive analytics market report include NGData (Belgium), TIBCO Software (U.S.), Panoratio (Germany), Profitect (U.S.), Frontline (U.S.), Angoss Software (U.S.), River Logic, Inc. (U.S.), IBM Corporation (U.S.), Ayata (U.S.), and FICO (U.S.).

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