The Predictive and Prescriptive Analytics Market Report 2019-2023 focuses on the global Predictive and Prescriptive Analytics status, future forecast, growth opportunity, key market, and key players.
The Predictive and Prescriptive Analytics Market report studies the global market size of Predictive and Prescriptive Analytics in key regions like North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa focuses on the consumption of Predictive and Prescriptive Analytics in these regions. This research report categorizes the global Predictive and Prescriptive Analytics market by players/brands, region, type, and application. This report also studies the global market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels, distributors and Porters Five Forces Analysis.
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The various contributors involved in the value chain of Predictive and Prescriptive Analytics include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Players covered in this study:-
- Microsoft Corporation
- SAS Institute Inc.
- Oracle Corporation
- SAP SE
- Accenture PLC
- Infor Inc.
- Teradata Corporation
- Angoss Software Corporation
- International Business Machines Corporation (IBM)
Overview of Predictive and Prescriptive Analytics Market Research Report 2019-2023:-
The global predictive & prescriptive analytics market was valued at USD 5.52 billion in 2017, and is projected to reach a value of USD 16.84 billion by the end of 2023, at a CAGR of 20.43% over the forecast period, 2019-2023.
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. Prescriptive analytics is associated with both descriptive and predictive analytics. The growing demand for consumer goods, indirectly boosts the adoption rate of predictive & prescriptive analytics tools, due to the fact that many retail organizations and online retail stores are using this software to analyze, predict, and provide a solution for any demanding situation. All major sectors, such as BFSI and healthcare, use predictive analytics for the development of effective methods for managing customer relationships, predicting end-user behavior, and improving customer loyalty, and retention policies.
Growth in demand for Global Consumer Goods
Globally, there has been a tremendous growth in the consumer goods market. Consumers demand better and more advanced technologies to make their lives easier. For instance, the trends in the smartphone market suggest the dynamism of consumer preferences. 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. The increasing demand for consumer goods creates a need for major vendors in the retail space, to focus on customer retention and attracting new customers with effective and substantiated marketing techniques, backed by relevant data. Prescriptive and predictive analytics provide the ultimate platform to understand consumer behavior and sentiments, capable of influencing their purchasing patterns, which plays a critical role in redefining consumer preferences and marketing techniques of leading international conglomerates.
Retail Sector accounts for a dominant market share
Increasing competition, a wide array of product offerings, multiple touch points for customers, and increasing customer complexities enable retailers to use analytics. Applied to relatively large sets of customer data, it can enable marketers to predict future behavior, customize best customer offers, or interact with their clients or suppliers based on such forecasts. Retail Analytics helps firms target and reach out to new customers, forecast store traffic, and prevent theft and fraud.
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Key questions answered in the Predictive and Prescriptive Analytics Market Report are.
- What will the market size be in 2023 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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This report includes the estimation of market size for value (million US$) and volume (K Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Predictive and Prescriptive Analytics market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
Major Points from TOC of Predictive and Prescriptive Analytics Market Research Report 2019-2023:
1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
- RESEARCH METHODOLOGY
- EXECUTIVE SUMMARY
- MARKET DYNAMICS
4.1.1 Rise in Defence Expenditure of Many Countries
4.1.2 Increasing Demand of Lightweight Materials in the Industry
4.2.1 Need for High Investments in R&D
4.2.2 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Price Analysis
- MARKET SEGMENTATION
1 By Application
5.2 End-user Sector
5.3.2 North America
5.3.4 South America
5.3.5 the Middle East & Africa
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