Predictive and Prescriptive Analytics Market Size to Reach USD 64.58 Billion by 2028
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.
The study on the Global Predictive and Prescriptive Analytics Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Predictive and Prescriptive Analytics market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Predictive and Prescriptive Analytics industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Predictive and Prescriptive Analytics industry.
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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.
- Healthcare segment is projected to account for comparatively higher market share during the forecast period due to growing use of predictive analytics in the healthcare industry for detection of patient condition in general ward and ICU.
Leading Companies of the Predictive and Prescriptive Analytics Industry and Profiled in the 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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Furthermore, the report divides the Predictive and Prescriptive Analytics market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
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)
- Services
- Solutions
- Customer relationship management
- Fraud detection
- Risk management
- Performance management
Deployment Outlook (Revenue, USD Billion; 2021–2028)
- On-premises
- Cloud
Application Outlook (Revenue, USD Billion; 2021–2028)
- Human resource
- Talent analytics
- Sales & marketing
- Marketing analytics
- Behavioral analytics
- Finance
- Collection analytics
- Operations
- Distribution management
- Inventory planning
- Others
End-use Outlook (Revenue, USD Billion; 2021–2028)
- Retail
- Telecommunication
- Mining
- Energy
- Manufacturing
- Healthcare
- Automotive
- Government
- Defense
- BFSI
- Logistics
- Entertainment
- Sports
- Gaming
- Others
Regional Analysis:
The report sheds light on the region expected to dominate the Predictive and Prescriptive Analytics market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Predictive and Prescriptive Analytics market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
Key Points of Predictive and Prescriptive Analytics Market:
- Extensive coverage of the analysis of the Predictive and Prescriptive Analytics market
- Key insights into the regional spread of the industry in key geographies
- Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
- Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Predictive and Prescriptive Analytics market
- Complete data about the key manufacturers and vendors in the Predictive and Prescriptive Analytics market
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