Predictive and Prescriptive Analytics Market Size to Reach USD 64.58 Billion by 2028 | Global Analysis, Industry Statistics, Revenue, Demand and Trend Analysis Research Report by Emergen Research

Key market participants include Microsoft Corporation, Oracle Corporation, International Business Machines Corporation, SAP SE, SAS Institute Inc., Salesforce.com, Inc., Qliktech Inc., Tableau Software, Inc., TIBCO Software Inc., and Pegasystems Inc.

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Vancouver, British Columbia, Jan. 28, 2021 (GLOBE NEWSWIRE) -- The predictive and prescriptive analytics market is forecast to reach a market size of USD 64.58 Billion by 2028, and register a steady CAGR of 25.4%, over the forecast period, according to latest analysis by Emergen Research. Growing usage of predictive and prescriptive analytics for inventory planning is a major factor driving growth of the global predictive and prescriptive analytics market, and this trend is expected to continue to gain traction during the forecast period. In addition, rising adoption of predictive and prescriptive analytics for remote monitoring in the healthcare industry is expected to further fuel growth of the predictive and prescriptive analytics market during the forecast period. Increasing use of competitive intelligence systems is also expected to fuel growth of the predictive and prescriptive analytics market to a significant extent.

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Concerns regarding data security of predictive and prescriptive analytics solutions is a primary factor expected to hamper preference and adoption, and in turn impact growth of the predictive and prescriptive analytics market to a certain extent over the forecast period.

Key Highlights in the Report

  • Increasing implementation of on-premises-based predictive and prescriptive analytics solutions to gain better control of data and reduce data theft risks is another key factor driving deployment of solutions, and in turn, revenue growth of the on-premises segment. Revenue from this segment is expected to expand at a steady CAGR of 25.2% over the forecast period.
  • Due to increasing usage of business analytics and intelligence solutions to measure marketing campaign efforts and understand customer behavior, revenue from the sales & marketing segment is projected to register significant growth over the forecast period.
  • Growing utilization of predictive analysis to detect fraudulent activities at an early stage is expected to result in significant high revenue growth for the BFSI segment over the forecast period.
  • Due to increasing demand for predictive analytics solutions for market demand forecasting, quality improvement, and preventive maintenance in manufacturing industry in countries in Asia Pacific, the market in the region is expected to register a significantly growth rate in terms of revenue during the forecast period.
  • Key market participants include Microsoft Corporation, Oracle Corporation, International Business Machines Corporation, SAP SE, SAS Institute Inc., Salesforce.com, Inc., Qliktech Inc., Tableau Software, Inc., TIBCO Software Inc., and Pegasystems Inc.
  • In January 2021, Information Builders Inc. was acquired by TIBCO Software Inc. Through this acquisition TIBCO will strengthen data analytics solutions portfolio.

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Emergen Research has segmented the predictive and prescriptive analytics market on the basis of type, deployment, application, end-use, and region.

  • Type Outlook (Revenue, USD Billion; 2021–2028)
    • Services
    • Solutions
      • Customer relationship management
      • Fraud detection
      • Risk management
      • Performance management
  • Deployment Outlook (Revenue, USD Billion; 2021–2028)
    • On-premises
    • Cloud
  • Application Outlook (Revenue, USD Billion; 2021–2028)
    • Human resource
      1. Talent analytics
    • Sales & marketing
      1. Marketing analytics
      2. Behavioral analytics
    • Finance
      1. Collection analytics
    • Operations
      1. Distribution management
      2. Inventory planning
    • Others
  • End-use Outlook (Revenue, USD Billion; 2021–2028)
    • Retail
    • Telecommunication
    • Mining
    • Energy
    • Manufacturing
    • Healthcare
    • Automotive
    • Government
    • Defense
    • BFSI
    • Logistics
    • Entertainment
    • Sports
    • Gaming
    • Others

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  • Regional Outlook (Revenue, USD Billion; 2021–2028)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. U.K.
      3. France
      4. BENELUX
      5. Rest of Europe
    • Asia Pacific
      1. China
      2. Japan
      3. South Korea
      4. India
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of MEA

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