Prescriptive Analytics Market Size
The availability of advanced analytics is projected to motivate the growth of the market for prescriptive analytics. Reports that scrutinize the information and communication technology industry have been offered by Market Research Future, which generates reports on industry verticals that judge the market development and possibilities. A 2.47 billion is predicted to achieved by the market with the aid of a CAGR of 22.7 % approximately.
The appearance of big data and IoT and the growing demand for retrieving real time data acts as a chief motivating factor for the development of prescriptive analytics market. Moreover, the upsurge in cyber-crime is expected to create favorable traction for the prescriptive analytics market in the coming years.
Prescriptive Analytics is defined as advanced analytics that is useful for making optimum decisions regarding the way to handle specific situations by considering all the situation and available resources. Market Research Future (MRFR) has published a research report about the global prescriptive analytics market that presumes proliferation for this market at 22.7% CAGR (Compound Annual Growth Rate) between 2017 and 2022. By value, the market has been figured to be worth the US $ 2.47 bn by the end of the forecast period.
Analyzing the market structure, this report weighs the future growth potential of the market. It assesses the strategies of the key players in the market and supports the competitive developments like joint ventures, new product developments, mergers & acquisitions, research and developments (R&D) in the market.
The major factor elevating the prescriptive analytics market growth is the rising popularity of automated business decisions. Prescriptive analytics is helpful for improved business decisions despite uncertainty and changing conditions. Other factors contributing to the market growth include the emergence of big data & internet of things (IoT), growing cloud adoption, massive investments from various firms, increase in cyber crimes, and lastly, growing demand of machine learning.
The global prescriptive analytics market has been segmented on the basis of application, business sector, component, deployment, vertical and lastly, region. The application-based segmentation segments this market into network management, operation management, revenue management, supply chain management, and others.
Based on the business sector, the market has been segmented into finance, human resources (HR), marketing, operations, and sales. As per component-based segmentation, the market has been segmented into software and services. In the context of deployment, the market has been segmented into on cloud deployment and on-premise deployment. On the basis of vertical, the market can be segmented into banking, financial services & insurance (BFSI), government, healthcare, information technology (IT)/IT enabled service (ITES), manufacturing, and transportation.
The regional segmentation of the global prescriptive analytics market segments the market into the regional markets known as North America, Asia Pacific, Europe, and rest of the world (RoW). North America dominates the global market due to increased internet penetration, the presence of many key market players, and technological advancements. The most important country-specific markets in this region are Canada and the USA. The decisive country-specific markets in this region are Canada and the USA.
Europe is another important regional market due to technological advancement that is second only to North America. Some key players of the global market are based in Europe too. The primary country-specific markets in this region are France, Germany, and the UK, followed by the remaining countries of Europe.
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Market Analysis The global prescriptive analytics market size is predicted to touch USD 2.47 billion at a 22.7% CAGR between 2015- 2022 states the recent Market Research Future (MRFR) analysis.
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.
Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/2613 Market SegmentationThe 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 application, the global prescriptive analytics market is segmented into supply chain management, network management, revenue management, operation management, and others.
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).
