The global predictive and prescriptive analytics market is forecast to reach a market size of USD 64.58 Billion by 2028, and register a significantly high CAGR, according to latest analysis by Emergen Research. Revenue growth of the global predictive and prescriptive analytics market is expected to increase significantly during the forecast period due to increasing demand for data-driven decision-making solutions. Rising adoption of business intelligence and analytics solutions across different industries and sectors is another major factor expected to further boost growth of the global predictive and prescriptive analytics market during the forecast period.
However, high cost to implement predictive and prescriptive analytics solutions is expected to restrain adoption, and in turn, impact growth of the global predictive and prescriptive analytics market growth to a certain extent during the forecast period.
The report is updated with the latest economic scenario and market scope with regard to the ongoing COVID-19 pandemic. The report covers growth prospects as well as current and futuristic revenue estimations in a post COVID scenario. The report also covers changing trends and market dynamics due to the pandemic and provides an accurate impact analysis of the crisis on the overall market.
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Key Highlights of Report
- Solution segment is expected to lead in terms of revenue CAGR of 25.4% during the forecast period. This high growth rate can be attributed to increasing application of predictive and prescriptive analytics solutions for fraud detection, debt management, and risk management in various sectors.
- Cloud segment is projected to account for largest market share over the forecast period due to increasing adoption of cloud-based analytics solutions by end-user to efficiently collect, process, and transfer analyzed data.
- In terms of revenue contribution to the global predictive and prescriptive analytics market, the operation segment is projected to lead during the forecast period as a result of increasing demand for advanced solution to improve inventory planning across different industry.
The Predictive and Prescriptive Analytics research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on the detailed analysis of the technological and product developments undertaken by these companies.
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The key companies studied in the Predictive and Prescriptive Analytics report are:
Microsoft Corporation, Oracle Corporation, International Business Machines Corporation, SAP SE, SAS Institute Inc., Salesforce.com, Inc., Qliktech Inc., Tableau Software, Inc., TIBCO Software Inc., and Pegasystems Inc.
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On the basis of regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show a significant growth owing to recent advancements and rising investments in the RD sector.
Emergen Research has segmented the global predictive and prescriptive analytics market on the basis of type, deployment, application, end-use, and region.
- Type Outlook (Revenue, USD Billion; 2021–2028)
- Customer relationship management
- Fraud detection
- Risk management
- Performance management
- Deployment Outlook (Revenue, USD Billion; 2021–2028)
- Application Outlook (Revenue, USD Billion; 2021–2028)
- Human resource
- Talent analytics
- Marketing analytics
- Behavioral analytics
- Collection analytics
- Distribution management
- Inventory planning
- End-use Outlook (Revenue, USD Billion; 2021–2028)
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The report addresses the following key points:
- The report provides a forecast of market drivers, restraints, and future opportunities for the Predictive and Prescriptive Analytics market
- The report further analyses the changing market dynamics
- Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
- Extensive competitive landscape mapping with profiles of the key competitors
- In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
- Revenue forecast, country scope, application insights, and product insights
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