(MENAFN- EIN Presswire) Prescriptive Analytics market Size
A rise in demand for cloud-based predictive analytics is expected to propel the market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, May 15, 2023 /einpresswire.com / -- According to the report, the global prescriptive analytics market generated $1.96 billion in 2018, and is expected to reach $12.35 billion by 2026, registering at a CAGR of 26.6% from 2019 to 2026.
Surge in requirement for extensive market analytics solutions, advent of new technologies including big data and IoT, and rise in demand for cloud-based predictive analytics drive the growth of the global prescriptive analytics market.
Request Sample Report at:
However, high cost of investment and intricate analytical workflow restrain the market growth. On the other hand, increase in adoption of measures for cybercrime prediction and prevention and surge in expenditure on development of big data infrastructure create new opportunities in the market.
Based on business function, the operations segment held the largest market share in the global prescriptive analytics market, contributing for nearly one-third of the total market share in 2018, and is expected to maintain its lead position throughout the forecast period.
This is due to the inclination of enterprises across the globe toward the implementation of analytical solutions in their business operation processes. However, the marketing segment is estimated to grow the fastest CAGR of 28.6% from 2019 to 2026, owing to its ability to provide insights based on marketing strategies.
For Report Customization:
Based on industry vertical, the BFSI segment contributed nearly one-fifth of the total share of the global prescriptive analytics market in 2018, and is estimated to dominate in terms of revenue during the forecast period.
This is attributed to the increase in the need for optimization of business processes in financial institutions such as banks. However, the manufacturing segment is expected to register the fastest CAGR of 30.1% from 2019 to 2026, owing to its features such as prescriptive maintenance that are useful in the assembly lines and manufacturing plants.
Based on region, North America held the highest market share in 2018, accounting for nearly two-fifths of the global prescriptive analytics market, and will maintain its lead position during the forecast period. This is due to the well-developed IT infrastructure that led to early adoption of automation processes in the region.
Procure Complete Report (303 Pages PDF with Insights, Charts, Tables, and Figures) at:
On the other hand, Asia-Pacific is expected to portray the largest CAGR of 29.5% from 2019 to 2026, owing to rise in demand in government institutes along with the integration of analytics into existing predictive models of organizations operating in this region.
The key players profiled in the prescriptive analytics market forecast includes Fair, Isaac and Company (FICO), IBM Corporation, Infor, Oracle Corporation, River Logic, Inc., Salesforce.com Inc, SAP SE, SAS Institute Inc., Teradata Corporation, and Tibco Software Inc.
Access the full summary at:
Key Benefits for Prescriptive Analytics Market:
.This study includes the prescriptive analytics market opportunity, analysis, trends, and future estimations to determine the imminent investment pockets.
.The report presents information related to key drivers, restraints, and opportunities of the prescriptive analytics industry.
.The prescriptive analytics market size is quantitatively analyzed from 2018 to 2026 to highlight the financial competenc of the industry.
.Porter's five forces analysis illustrates the potency of the buyers & suppliers in the prescriptive analytics market.
Inquiry Before Buying:
Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
Related Report:
1. legal analytics market
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Wi
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300n Sivers Drive
#205, Portland, OR 97220
United States
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
Web:
Follow Us on: LinkedIn Twitter
Allied Market Research
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
facebook
twitter
linkedin