The Prescriptive Analytics Market is Predict to reach USD 31.4 Billion by 2031, at a CAGR of 31.4%

Prescriptive Analytics Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Prescriptive Analytics Market size is expected to reach $76.4 billion by 2031, rising at a market growth of 31.4% CAGR during the forecast period.

The Finance & Banking segment would capture a CAGR of 30.9% during (2024 - 2031). Fraud detection is a significant challenge for banks and financial institutions. Prescriptive analytics enhances fraud prevention by analyzing transaction data, customer behavior, and anomaly patterns to identify potentially fraudulent activities. It provides recommendations for preventive measures and real-time responses, helping to reduce financial losses and maintain trust, thereby increasing the demand for prescriptive analytics.

The Supply Chain Management segment is leading the Global Prescriptive Analytics Market by Application in 2023; thereby, achieving a market value of $19.3 billion by 2031. Modern supply chains are highly complex and operate globally, involving multiple stakeholders, transportation modes, and regulatory environments. This complexity necessitates advanced analytical tools to efficiently manage and optimize the entire supply chain. Prescriptive analytics helps organizations navigate this complexity by providing actionable insights and recommendations, making it highly sought after in the supply chain management segment.

The Services segment exhibits a CAGR of 32.2% during (2024 - 2031). Prescriptive analytics requires specialized knowledge and expertise in data science, machine learning, and optimization techniques. Many organizations lack the in-house expertise to effectively implement and manage these advanced analytical solutions. Service providers offer the necessary skills and experience to help organizations navigate the complexities of prescriptive analytics, driving demand for their services.

Full Report: https://www.kbvresearch.com/prescriptive-analytics-market/

The North America region dominated the Global Prescriptive Analytics Market by Region in 2023; thereby, achieving a market value of $25.9 billion by 2031. The Europe region is poised to grow at a CAGR of 31.1% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 32% during (2024 - 2031).

List of Key Companies Profiled

• Accenture PLC
• Amazon Web Services, Inc. (Amazon.com, Inc.)
• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• SAP SE
• SAS Institute Inc.
• Sisense, Inc.
• Cloudera, Inc.
• Alteryx, Inc.

Prescriptive Analytics Market Report Segmentation

By End Use

• IT & Telecom
• Finance & Banking
• Retail
• Healthcare
• Transportation & Logistics
• Other End Use

By Application

• Supply Chain Management
• Risk Management
• Operations Management
• Marketing & Sales
• Revenue Management
• Other Application

By Component

• Software
• Services

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

North America Prescriptive Analytics Market Size Report 2031

• September-2024
• 131 Pages

LAMEA Prescriptive Analytics Market Size | Share Report 2031

• September-2024
• 141 Pages

Europe Prescriptive Analytics Market Size | Trends 2031

• September-2024
• 142 Pages

Asia Pacific Prescriptive Analytics Market Size Report 2031

• September-2024
• 144 Pages