Prescriptive analytics market size to increase by USD 10.68 billion: North America will account for 45% of the market's growth during the forecast period - Technavio

NEW YORK, Jan. 30, 2023 /PRNewswire/ -- The Prescriptive Analytics Market by Solution and Geography - Forecast and Analysis 2022-2026 report has been published by Technavio. Market growth is estimated to accelerate at a CAGR of 25.84% and register an incremental growth of USD 10.68 billion during the forecast period. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. Download a PDF Sample Report.

By region, the global prescriptive analytics market is segmented into North America, Europe, APAC, MEA, and South America. North America will account for 45% of the market's growth during the forecast period. The US is a key market for prescriptive analytics in North America. Market growth in this region will be faster than the growth of the market in Europe.

The prescriptive analytics market report includes information on the key products and recent developments of leading vendors, including:

• Alteryx Inc: The company offers prescriptive analytics platforms such as Analytic Process Automation (APA) Platform which automates analytics and data science, is embedded with intelligent decisions and empowers to deliver faster, better business outcomes.
• International Business Machines Corp: The company offers such prescriptive analytics tools which improve operations, manage resources more efficiently and mitigate risks.
• Koch Industries Inc: The company offers prescriptive analytics tools such as Birst Advanced analytics which comprise business intelligence, artificial intelligence, process intelligence, predictive insight on talent, and location-based intelligence capabilities.
• Microsoft Corp: The company offers prescriptive analytics platforms such as Azure and PowerBI to help customers optimize their businesses end-to-end and enhance visualization.
• RapidMiner Inc: The company offers prescriptive analytics tools which enable the application of mathematical and computational sciences and suggests decision options to take advantage of the results of descriptive and predictive analytics.
• Salesforce.com Inc.
• SAP SE
• SAS Institute Inc.
• Sisense Inc.
• Talend SA
• To gain access to more vendor profiles available with Technavio, buy the report!

The market is driven by factors such as the rising demand for predictive analytics, the growing availability and complexity of data, and the growing need to improve business efficiency. However, data privacy and regulations are hindering market growth.

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others. Request a Sample

Market Segmentation

• By solution, the market is segmented into services and products. The services segment accounted for the largest share of the market during the forecast period.
• By geography, the market is segmented into North America, Europe, APAC, MEA, and South America. North America held the largest share of the market during the forecast period.

Electronic Health Records Market by Deployment, Component, and Geography - Forecast and Analysis 2023-2027: The electronic health records market is estimated to decline at a CAGR of 12.91% between 2022 and 2027. The size of the market is forecast to increase by USD 32.27 billion. The government initiatives supporting EHR adoption are notably driving the electronic health records market growth, although factors such as rising data security and privacy concerns may impede the market growth.

Edge Computing Market by End-user, Component, and Geography - Forecast and Analysis 2023-2027: The edge computing market is estimated to grow at a CAGR of 24.74% between 2022 and 2027. The size of the market is forecasted to increase by USD 9,928.42 million. The rising demand for decentralized computing to reduce latency in decision-making is notably driving the market growth, although factors such as competition from low-cost centralized and general-purpose computing infrastructure may impede the market growth. 

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What are the key data covered in this prescriptive analytics market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the prescriptive analytics market between 2023 and 2027
• Precise estimation of the size of the prescriptive analytics market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the prescriptive analytics market across North America, Europe, APAC, MEA, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of prescriptive analytics market vendors

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Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Solution

• Market segments
• Comparison by Solution
• Services - Market size and forecast 2021-2026
• Product - Market size and forecast 2021-2026
• Market opportunity by Solution

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2021-2026
• Europe - Market size and forecast 2021-2026
• APAC - Market size and forecast 2021-2026
• MEA - Market size and forecast 2021-2026
• South America - Market size and forecast 2021-2026
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Alteryx Inc.
• International Business Machines Corp.
• Koch Industries Inc.
• Microsoft Corp.
• RapidMiner Inc.
• Salesforce.com Inc.
• SAP SE
• SAS Institute Inc.
• Sisense Inc.
• Talend SA

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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SOURCE Technavio