Prescriptive Analytics Market Revenues to Expand at a CAGR of 31.7% by 2021
According to a new market research
report "Prescriptive
Analytics Market by Component (Software and Service), Data Type
(Unstructured, Semi-Structured, and Structured), Application, Business
Function, Deployment Model, Vertical, and Region - Global Forecast to
2021", The prescriptive
analytics market is estimated to grow from USD 1.16 Billion in 2016 to USD 4.58
Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 31.7%. Emergence of advanced technologies such as big data & IoT and rising
popularity of real-time accessibility of data for efficient business
applications are the key driving forces of the prescriptive analytics market.
Key Prescriptive Analytics Market Players
The report
also encompasses different strategies, such as acquisitions, partnerships &
collaborations, and product developments, adopted by major players to increase
their share in the market. Some of the major technology vendors include IBM
Corporation (U.S.), FICO (U.S.), River Logic, Inc. (U.S.), Ayata (U.S.), Angoss
Software (U.S.), Profitect (U.S.), Frontline (U.S.), Panoratio (Germany), TIBCO
Software (U.S.), and NGData (Belgium).
Most of the vendors have adopted agreements, collaborations &
partnerships, new product developments, product upgradations, and expansions as
the key strategies to enhance their client base and customer experience. INQUIRY
Browse 79 market data tables and 45
figures spread through 148 pages and in-depth TOC on “Prescriptive
Analytics Market - Global Forecast to 2021”
Request PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=237458480
Supply chain management application is
expected to grow at the highest CAGR during the forecast period
The
supply-chain management solutions are deployed by various businesses operating
under verticals such as wholesale, retail, telecom & IT, and manufacturing
among others. Supply-chain management solutions help to manage the requirements
generated by these businesses. Massive amount of data is generated across the
industry from procurement of raw material till its sourcing to manufacturing.
Organizations are facing challenges in managing these complexities and thus,
are using prescriptive analytics to address the projected demands of its
clients and end-users.
The on-demand deployment model to grow
at the highest CAGR during the forecast period
The market by
deployment model has been segmented into on-premises and on-demand model. The
on-demand deployment model is expected to witness the highest CAGR during the
forecast period. It will gain traction in the coming years owing to the
cost-effectiveness, agility, and affordability it offers to the end customer.
North America is expected to dominate
the prescriptive analytics market during the forecast period
The prescriptive analytics market segments the
global market on the basis of regions, which include North America,
Asia-Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America.
North America is expected to hold the largest share of the prescriptive
analytics market in 2016 due to the presence of large enterprises, technical
experts, and growing demands for prescriptive analytics solutions in this
region. The market in APAC is expected to grow at the highest CAGR between 2016
and 2021. The region would be looking to increase the adoption of advance
analytical technology owing to flexible government policies, regulations and
control, competing with the international markets in terms of quality and
pricing.
Comments
Post a Comment