Growth in number of connected devices in IoT analytics, surge in demand for advanced and real-time analytics, and increase in need for prescriptive analytical models drive the prescriptive analytics market.
The size of the global prescriptive analytics market was estimated to be worth USD 6.11 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 24.2% from 2023 to 2032, when it is expected to reach approximately USD 54.14 billion.
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"The Global Prescriptive Analytics Market 2022-2032 (USD Billion)")
The report segments the prescriptive analytics market on the basis of solution, deployment model, user group, industry vertical, and geography. As per solution, the market is bifurcated into software and service. By deployment model, the market divided into on-premise and cloud. The study indicates that rising popularity of automated business decisions and massive investments done by various firms helps to expand the addressable market for prescriptive analytics. The increase in cyber-crime results in the huge data loss for an organization, influences the demand of prescriptive analytics.
The major driver for Prescriptive Analytics Market is development in advanced technologies such as Internet of Thing (IoT) in utilities and big data and rising status of real time accessibility of data for effective business applications has powered the growth of prescriptive analytics market.
Key Market Players
Few of the companies in Robotic Process Automation (RPA) market are: International Business Machines Corporation, FICO, River Logic, Inc., Ayata, Angoss Software, Profitect, Frontline, Panoratio, TIBCO Software, and NGData.
Prescriptive Analytics Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | USD 54.14 billion |
| Growth Rate | CAGR of 24.2 % during 2022-2032 |
| Segment Covered | Application, end-use, Region. |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | IBM, Cerner Corp., Verisk Analytics, Inc., McKesson Corp., SAS, Oracle |
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
Segmentation on the basis of deployment type:
• Software-as-a-Service
• On-premise
Segmentation on the basis of application:
• Risk management
• Operations management
• Supply chain management
• Workforce management
Segmentation on the basis of enterprise:
• SMEs
• Large scale Enterprises
Segmentation on the basis of vertical:
• BFSI
• IT & Telecommunications
• Government & Defense
• Transportation
• Manufacturing
• Healthcare
• Retail
• Energy & Utilities
• Others
Frequently Asked Questions (FAQ) :
The top companies thaInternational Business Machines Corporation, FICO, River Logic, Inc., Ayata, Angoss Software, Profitect, Frontline, Panoratio, TIBCO Software, and NGData & among others.
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The base year for the report is 2023 in prescriptive analytics market.