Prescriptive Analytics Market by Component (Software and Services), Deployment (Cloud and On-premises), Business Function (Human Resources, Sales, Marketing, Finance, and Operations), and Industry Vertical (Healthcare, BFSI, IT & Telecommunications, Retail, Media & Entertainment, Manufacturing, Energy & Utilities, Transportation & Logistics, Government, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026
New York, Jan. 13, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Prescriptive Analytics Market by Component, Deployment, Business Function, and Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2019–2026" - https://www.reportlinker.com/p05837041/?utm_source=GNW
Prescriptive analytics in among one of the data analytics type that uses various analytics algorithms to derive accurate solution to an issue. For example, a prescriptive analytics model used in predictive maintenance provides accurate solution for any damage with insights on how and what to repair with alternative ways. The need for prescriptive analytics is increasing owing to its diversified application areas such as marketing, business operations, and supply chain. This, in turn, is expected to boost the growth of the global prescriptive analytics market during the forecast period across the globe. Primarily prescriptive analytics is used to help businesses with data-driven decision models through analysis of raw enterprise data.
Businesses across the globe are inclined toward digital analytics owing to advent of digitalization. This, in turn, rises the demand for sophisticated analytical solutions that offer features such as descriptive and predictive analytics. Thus, growth in adoption of comprehensive market analytics solutions among enterprises across the globe is a major factor expected to drive the market during the forecast period. Moreover, emergence of advance technologies has proliferated disruptive innovations led by analytics in business processes such as automation of business processes. This need is expected to propel the growth of the market.
However, high initial cost required for deployment of advance systems and analytical solutions is a factor that is expected to hamper the market growth. Furthermore, emergence of technologies compels market players to research and develop new enhancements and innovative prescriptive analytical solutions. This has led to the rise in ICT expenditure toward development of big data infrastructure among various countries. This is an opportunistic factor of the market, which is expected to boost the growth of the market during the forecast period.
The global prescriptive analytics market is segmented on the basis of component, business function, deployment, industry vertical, and region. By component, it is bifurcated into software and services. By deployment, the market is classified into cloud and on-premise. By business function, it is divided into human resources, sales, marketing, finance, and operations. Depending on industry vertical, the prescriptive analytics market is segmented into healthcare, BFSI, IT & telecommunications, retail, media & entertainment, manufacturing, energy & utilities, transportation & logistics, government, and others Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the prescriptive analytics market includes Fair, Isaac and Company (FICO), IBM Corporation, Infor, Oracle Corporation, River Logic, Inc., Salesforce.com Inc, SAP SE, SAS Institute Inc., Teradata Corporation, and Tibco Software Inc.
KEY BENEFITS FOR STAKEHOLDERS
• The study provides an in-depth analysis of the prescriptive analytics market trends to elucidate the imminent investment pockets.
• Information about key drivers, restraints, and opportunities and their impact analyses on the global prescriptive analytics market size is provided.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the global prescriptive analytics industry.
• The quantitative analysis of the market from 2018 to 2026 is provided to determine the global prescriptive analytics market potential.
KEY MARKET SEGMENTS
BY BUSINESS FUNCTION
• Human Resources
BY INDUSTRY VERTICAL
• IT and Telecommunications
• Media and Entertainment
• Energy and Utilities
• Transportation and Logistics
• Others (Travel and Hospitality)
• North America
o Rest of Europe
o Rest of Asia-Pacific
o Latin America
o Middle East
KEY MARKET PLAYERS
• Fair, Isaac and Company (FICO)
• IBM Corporation
• Oracle Corporation
• River Logic, Inc.
• Salesforce.com Inc
• SAP SE
• SAS Institute Inc.
• Teradata Corporation
• Tibco Software Inc.
Read the full report: https://www.reportlinker.com/p05837041/?utm_source=GNW
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