The prescriptive analytics market is estimated to grow from USD 1.16 Billion in 2016 to USD 4.58 Billion by 2021, at a high Compound Annual Growth Rate (CAGR) of 31.7% during the forecast period.
Emergence of advanced technologies such as big data and IoT and rising popularity of real-time accessibility of data for efficient business applications are the drivers that propel the growth of the market.
The report provides detailed insights into the global prescriptive analytics market, which is segmented by component, data type, applications, business functions, deployment model, vertical, and region. In business functions, the operation segment holds the largest market share and is gaining significant importance among corporates and enterprises. Operations find surplus applications, which can benefit by adapting prescriptive analytics technology.
Remote operations such as drilling, mining, solar, and wind farms, power substations often faces poor network connectivity, limited bandwidth and high costs of data transfer to central analytical hubs. Advanced analytics is a boon to these industries that require real time intelligence to make swift decisions in remote locations. Unstructured data type is expected to grow at the highest CAGR during the forecast period. Advent of big data, IoT, and smart cities are all contributing to the enormous amount of data being generated out of enterprises.
On-premises deployment model has higher adoption as compared to the on-demand deployment model. The on-premises deployment model provides confidentiality and privacy parameters to the organizational data; hence, most of the organizations are adopting the on-premises deployment model. The BFSI segment has shown the largest market share in vertical segment, where prescriptive analytics solutions are used to predict the right product portfolio, increasing precisions and timeliness of mortgage or deposit pricing, collecting the debt competently, and making right investment that drives the profits of the banks. However, manufacturing industry is poised to grow at the highest rate during the forecast period, which will help them in streaming real-time analytics ingesting from sensors and devices situated at the shop floor of the factory.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Prescriptive Analytics Market, By Component
8 Prescriptive Analytics Market Analysis, By Data Type
9 Prescriptive Analytics Market Analysis, By Application
10 Prescriptive Analytics Market Analysis, By Business Function
11 Prescriptive Analytics Market Analysis, By Deployment Model
12 Prescriptive Analytics Market Analysis, By Vertical
13 Geographic Analysis
14 Competitive Landscape
15 Company Profiles
- Angoss Software Corporation
- Frontline Systems Inc.
- Good Data and Absolute Data
- IBM Corporation
- IRI and MU Sigma
- Mitek Analytics LLC
- Qualmetrix Inc.
- River Logic, Inc.
- Tibco Software Inc.
For more information about this report visit http://www.researchandmarkets.com/research/x96fkb/prescriptive
Laura Wood, Senior Manager
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SOURCE Research and Markets