Emergen Research has recently added a new report titled Global Prescriptive Analytics Market that provides an extensive analysis of the Prescriptive Analytics market and industry overview with regards to market size, market share, revenue growth, key companies, current and emerging market trends, recent technological and product developments, and a comprehensive analysis of the impact of COVID-19 pandemic on the growth of the Prescriptive Analytics Market.
The Prescriptive Analytics Market is a burgeoning sector within the broader field of data analytics. Prescriptive analytics is the third phase of business analytics, following descriptive and predictive analytics. It goes beyond merely describing past events or predicting future outcomes, to suggesting the best course of action based on the data. This is achieved through a combination of advanced tools and techniques, including machine learning, artificial intelligence, and mathematical modeling.
The global prescriptive analytics market size was USD 5.13 Billion in 2022 and is expected to register a steady revenue CAGR of 24.2% during the forecast period, according to latest analysis by Emergen Research. One of the primary drivers of the Prescriptive Analytics Market is the increasing volume of data generated by businesses and the growing recognition of the value of data-driven decision making. As organizations continue to digitize their operations, the amount of data available for analysis is expanding exponentially. This data, when analyzed effectively, can provide valuable insights that can inform strategic decisions and improve operational efficiency.
However, the Prescriptive Analytics Market also faces certain restraints. The complexity of prescriptive analytics requires a high level of technical expertise, which can be a barrier for many organizations. Additionally, concerns about data privacy and security can also limit the adoption of prescriptive analytics, particularly in sectors with stringent regulatory requirements.
Despite these challenges, several factors are contributing to the growth of the Prescriptive Analytics Market. The ongoing digital transformation of businesses across various sectors is driving demand for advanced analytics solutions. Furthermore, the increasing competitiveness of the business environment is pushing organizations to seek out innovative ways to gain a competitive edge, and prescriptive analytics offers a powerful tool for this purpose.
Government statistics highlight the potential of the Prescriptive Analytics Market. According to a report by the U.S. Bureau of Labor Statistics, the demand for operations research analysts, who are often involved in prescriptive analytics, is expected to grow by 25% from 2019 to 2029, much faster than the average for all occupations. This indicates a growing demand for the skills and expertise required for prescriptive analytics.
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It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.
The report also discusses the key players involved in the market such as
Microsoft, SAP, IBM, Salesforce Inc., Oracle, SAS Institute Inc., FICO, River Logic, Inc., Infor, and Ayata
- Besides offering a vivid depiction of the global Prescriptive Analytics business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
- The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years
- The report scrutinizes the salient factors influencing the growth of the market in the near future.
- The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
Regional Landscape section of the Prescriptive Analytics Market report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Prescriptive Analytics market expected to boost the growth of the industry in the coming years.
Prescriptive Analytics Market Segmentation:
- Type Outlook (Revenue, USD Billion; 2019-2032)
- Organization Size Outlook (Revenue, USD Billion; 2019-2032)
- Large Enterprises
- Small-scale and Medium Sized Enterprise (SMEs)
- Deployment Mode Outlook (Revenue, USD Billion; 2019-2032)
Browse Full Report Description + Research Methodology + Table of Content + Infographics @ https://www.emergenresearch.com/industry-report/prescriptive-analytics-market
Highlights of Table of Contents (TOC):
- Overview of Global Prescriptive Analytics Market
- Competitive analysis of the Prescriptive Analytics Market
- Regional analysis of Global Prescriptive Analytics Market production and revenue
- Regional analysis of Global Prescriptive Analytics Market supply, consumption, and export & import
- Type-based market analysis of global Prescriptive Analytics production, revenue, and price trends
- Application-based analysis of the global Prescriptive Analytics Market
- Manufacturer profiles, manufacturing cost, and upstream and downstream analysis of global Prescriptive Analytics market
- Conclusion of the research report
Thank you for reading our report. Please get in touch with us if you have any query regarding the report or its customization. Our team will ensure the report is best suited to your needs.
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