- Predictive analytics is the practice of extracting information from existing data.
- Data privacy and security concerns are restricting the market growth.
According to Stratistics MRC, the Global Prescriptive and Predictive Analytics Market is accounted for $5.72 billion in 2017 and is expected to reach $28.71 billion by 2026 growing at a CAGR of 19.6% during the forecast period.
Some of the key factors influencing the market growth include growth in demand for global consumer goods, need for comprehensive market analytics and increasing demand for cloud-based predictive analytics. However, data privacy and security concerns are restricting the market growth.
Predictive analytics is the practice of extracting information from existing data. It helps users determine and understand the buying patterns of customers, and predict future trends for an organization. Prescriptive analytics is another branch of advanced analytics, dedicated to obtaining the best course of action for a presented situation.
Among end user industries, the retail segment has a significant growth during the forecast period because increasing competition, a wide array of product offerings, multiple touch points for customers, and increasing customer complexities enable retailers to use analytics. Retail Analytics helps firms target and reach out to new customers, forecast store traffic, and prevent theft and fraud.
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By Geography, Asia Pacific is expected to grow at the significant market share during the forecast period. Globally emerging countries such as India and China constitute the growth of the consumer goods market due to the high penetration of internet and rapid urbanization.
Some of the key players in global prescriptive and predictive analytics market are Salesforce.com, IBM Corporation, Accenture PLC, Versium Inc., Oracle Corporation, Angoss Software Corporation, TIBCO, SAP SE, Angoss Software, Microsoft Corporation, Alteryx, Infor Inc., SAS Institute Inc., Zemantis, Teradata Corporation, Tableau, and Pegasystems.
• Customer Relationship Management
• Decision Support Systems
• Fraud Detection Systems
• Performance Management Systems
• Risk Assessment and Management Systems
• Cloud Based
• Behavioral Analytics
• Marketing Analytics
• Talent Analytics
• Collection Analytics
• Supply-Chain Analytics
• Other Types
• Marketing & Sales
• Operations Management
• Supply-Chain Management
• Human Resource
End User Industries Covered:
• Healthcare & Pharmaceutical
• Information Technology & Telecommunication
• Banking, Financial Services and Insurance (BFSI)
• Social Media & Entertainment
• Government & Defense
• Other End Use Industries
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the clients interest (Note: Depends of feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances