Prescriptive Analytics Market Research Is Expected To Reach US ~$ 2.47 Billion By 2022 (SARS-CoV-2, Covid-19 Analysis)
The Prescriptive Analytics market is growing swiftly. Increase in demand for real-time data is driving the Prescriptive Analytics market. The Prescriptive Analytics market is globally emerging across world. Recent trend towards digital transformation, internet of things (IoT) is observed and is driving the Prescriptive Analytics market.
The study indicates that the increasing demand for talent mobility and demand for integrated high performance software are the key drivers for the prescriptive analytics management market. Prescriptive Analytics has many advantages as organizational management, revenue management, advance analytics, and growing demand of IoT technology is driving the market. The usage concerns and the security concerns due to the threats of cyber security in the software solutions segment are the restraining factors for Prescriptive Analytics market.
The study indicate that continuous improvements, changes are carried out according to the new trends of prescriptive analytics. A recent news about Angoss software, the company has released 9.6 version of software suite, with enhancements to KnowledgeSEEKER, KnowledgeSTUDIO, KnowledgeREADER, and InsightOPTIMIZER products in 2016. With this product development Angoss has boosted its prescriptive analytics product, InsightOPTIMIZER, by integrating dataset and record level optimization.
According to Market Research Future Analysis, Global Prescriptive Analytics Market has been valued at US $ ~2.47 Billion by the end of forecast period with ~22.7% of CAGR during forecast period 2016 to 2022.
Market Research Future (MRFR) recognizes the following companies as the key players in the Prescriptive Analytics Market: 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.
Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
By End-user segment, the BFSI segment would have a major share in Prescriptive Analytics Market. The study indicates that there has been a significant demand of Prescriptive Analytics in the insurance sector. Considering the deployment segment the cloud based Prescriptive Analytics solutions are expected to show a sudden hike in the Prescriptive Analytics market as they reduce the costs of ownership and has faster implementation. The study indicates that the market has estimated to witness growth in the software solution segment during the forecast period. The demand of the real time data and workforce analytics solution is expected to play a major role in the Prescriptive Analytics market. Considering the services segment consulting services is expected to grow fastest in the Prescriptive Analytics market. The study indicates that by the forecast period the SMEs segment is expected to grow significantly in the Prescriptive Analytics market.
By Region, North America region has been leading the Prescriptive Analytics market. Many factors such as high cloud penetration, increasing internet of things (IoT) and increasing new-generation employees have credited to developments of Prescriptive Analytics market in North America region.
For the purpose of this study, the global Prescriptive Analytics market has been segmented on the basis of component, application, deployment, organization size, business units and vertical. The report on Prescriptive Analytics contains detailed analysis with market size of each segment.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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