Prescriptive Analytics Market Growth Analysis With Investment Opportunities For 2024-2033

Prescriptive Analytics Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

Prescriptive Analytics Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 2, 2024 /EINPresswire.com/ -- The prescriptive analytics market has experienced robust growth in recent years, expanding from $6.8 billion in 2023 to $8.57 billion in 2024 at a compound annual growth rate (CAGR) of 26.0%. The growth in the historic period can be attributed to increasing volume and complexity of data, advancements in machine learning algorithms, rise of big data analytics, industry-specific adoption, increasing awareness of analytics benefits.

Strong Future Growth Anticipated
The prescriptive analytics market is projected to continue its strong growth, reaching $21.58 billion in 2028 at a compound annual growth rate (CAGR) of 26.0%. The growth in the forecast period can be attributed to real-time prescriptive analytics, integration with internet of things (IoT), expansion in cloud-based solutions, advancements in explainable ai, customization for specific business needs.

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Growth Driver Of The Prescriptive Analytics Market
The rising adoption of the Internet of Things (IoT) is expected to propel the growth of the prescriptive analytics market going forward. The Internet of Things (IoT) refers to the overall network of interconnected devices and the technology that enables communication between them and the cloud. Prescriptive analytics utilizes the Internet of Things (IoT) to provide real-time data from connected devices and sensors. This data can be analyzed to identify patterns and trends and provide insights into what actions should be taken.

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Major Players And Market Trends
Key players in the prescriptive analytics market include Microsoft Corporation, Koch Industries Inc., The International Business Machines (IBM) Corporation, Oracle Corporation, SAP SE.
Major companies operating in the prescriptive analytics market are developing innovative technologies, such as retail prescriptive analytics systems, to deliver growth for their organizations. Retail prescriptive analytics systems are software solutions that use data analysis and machine learning algorithms to provide specific recommendations and actions to retailers.

Segments:
1) By Solution: Software, Services
2) By Deployment Mode: Cloud, On-Premises
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SME’s)
4) By Application Type: Risk Management, Operations Management, Revenue Management, Network Management, Supply Chain Management, Workforce Management
5) By Industry Vertical: Manufacturing, Energy And Utilities, Media And Entertainment, Transportation And Logistics, Healthcare And Life Sciences, Retail And Consumer Goods, Banking Financial Services And Insurance (BFSI), Information Technology And Telecommunications, Other Industry Verticals

Geographical Insights: North America Leading The Market
North America was the largest region in the prescriptive analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the prescriptive analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Prescriptive Analytics Market Definition
Prescriptive analytics is a technique that analyzes data and delivers rapid advice on improving business procedures to meet specific anticipated results. It uses a statistical approach that identifies the most effective course of action required in a particular circumstance based on data. The main goal of prescriptive analytics is to optimize business processes, mitigate risk, and maximize opportunities.

Prescriptive Analytics Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Prescriptive Analytics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on prescriptive analytics market size, prescriptive analytics market drivers and trends, prescriptive analytics market major players, prescriptive analytics competitors' revenues, prescriptive analytics market positioning, and prescriptive analytics market growth across geographies. The prescriptive analytics market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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