Global Prescriptive Analytics Market Growth Prospects, Key Opportunities, Trends And Forecast 2026

Global Prescriptive Analytics Market

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 The Global Prescriptive Analytics Market is set to witness a healthy CAGR of 32.23% in the forecast period of 2019 to 2026. The report contains data of the base year 2018 and historic year 2017. This rise in the market can be attributed to the rising demand of innovative technology such as Big Data and IoT.

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Global Prescriptive Analytics Market By Component (Software Services), Data Type (Unstructured Data, Semi-Structured Data, Structured Data), Application (Risk Management, Operations Management, Revenue Management, Network Management, Supply Chain Management, Workforce Management, Others), Business Function (Human Resources, Sales, Marketing, Finance, Operations), Deployment Model (On-Premises, On-Demand), Vertical (Healthcare and Life Sciences, Banking, Financial Services, and Insurance, Information Technology and Telecommunications, Retail and Consumer Goods, Media and Entertainment, Manufacturing,  Energy and Utilities, Travel and Hospitality, Transportation and Logistics, Government and Defense, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026

Major Market Competitors: Global Prescriptive Analytics Market

Few of the major competitors currently working in the Global prescriptive analytics market are River Logic, Inc., Altair Engineering, Inc., Profitect Inc., IBM Corporation, Fair Isaac Corporation, Ayata, TIBCO Software Inc,,  Frontline Systems, Inc, NGDATA, Inc., Panoratio GmbH, Netformx., QualMetrix Inc., Absolutdata., Salesforce.com, inc, Accenture., Oracle, Teradata., SAS Institute Inc.,  Microsoft, SAP SE, Versium, and among others

Company Share Analysis: 

Global prescriptive analytics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Prescriptive Analytics Market for Global, Europe, North America, Asia Pacific and South America

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Market Drivers:

  • Rise of innovative technologies such as Big Data and IOT is driving the growth of the market
  • Growing demand of real-time accessibility of data for well-organized business actions is propelling the growth of the market
  • Increase in cyber-crimes and the requirement for crime forecast and avoidance.

Market Restraints:

  • The absence of a common platform to standardize the software development is hampering the growth of the market,
  • Slow ICT expenditure is anticipated to hamper the development of the prescriptive analytics market in underdeveloped nations.
  • Complicated analytical workflow and energetic nature of data is restricting the growth of the market

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Segmentation: Global Prescriptive Analytics Market

By Component

  • Software
  • Services
    •  Professional Services
    • Managed Services

By Data Type

  • Unstructured Data
  • Semi-Structured Data
  • Structured Data

By Application

  • Risk Management
  • Operations Management
  • Revenue Management
  • Network Management
  • Supply Chain Management
  • Workforce Management
  • Others

By Business Function

  • Human Resources
  • Sales
  • Marketing
  • Finance
  • Operations

By Deployment Model

  • On-Premises
  • On-Demand

By Vertical

  • Healthcare and Life Sciences
  • Banking, Financial Services, and Insurance
  • Information Technology and Telecommunications
  • Retail and Consumer Goods
  • Media and Entertainment
  • Manufacturing
  • Energy and Utilities
  • Travel and Hospitality
  • Transportation and Logistics
  • Government and Defense
  • Others 

Key Developments in the Market:

  • In May 2019, Emerson is launching PeakVue Plus, a development redesign which provides prescriptive analytics  to support the consumers in decision making and to improve the rotating machinery availability. This product launch would help the users to take corrective measures to preserve the life of the bearing and ensure the long-term accessibility of its resources.
  • In March 2019, IBM ILOG CPLEX Optimization Studio V12.9 introduced the latest efficiency enhancements for both Constraint Program Optimizer and CPLEX engines. It offers a template design framework for numerical and restrictive programming to optimize enterprise decisions as well as provide insights into prescriptive analytics. This product launch is a recognized analysis technology which allows an extensive end-to-end solution to complicated issues.

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