Prescriptive Analytics Market Size, Share, Growth Analysis, By Deployment Mode(Cloud and On-Premises), By Organization Size(Large and Small & Medium) - Industry Forecast 2024-2031

Prescriptive Analytics Market size was valued at USD 39.99 billion in 2022 and is poised to grow from USD 47.72 billion in 2023 to USD 196.35 billion by 2031, at a CAGR of 19.34% during the forecast period (2024-2031).

Details about each company are provided by the prescriptive analytics market competitive landscape. An overview of the business, financial information, revenue, market potential, investments in R&D, new market initiatives, regional presence, firm strengths and weaknesses, product introduction, and application domination are among the specifics provided. Only the companies' focus on the prescriptive analytics industry is addressed by the aforementioned data points. 'IBM (United States)', 'Microsoft Corporation (United States)', 'SAP SE (Germany)', 'SAS Institute Inc. (United States)', 'Oracle Corporation (United States)', 'FICO (United States)', 'TIBCO Software Inc. (United States)', 'Teradata Corporation (United States)', 'Alteryx, Inc. (United States)', 'Angoss Software Corporation (Canada)', 'Frontline Systems, Inc. (United States)', 'River Logic, Inc. (United States)', 'Profitect Inc. (United States)', 'Ayata (United States)', 'IBM Watson (United States)', 'Gurobi Optimization, LLC (United States)', 'Panoratio Database Images GmbH (Germany)', 'NGDATA (Belgium)', 'Provalis Research (Canada)', 'Tibco Jaspersoft (United States)', 'Absolutdata (United States)', 'RapidMiner (United States)'

Customer-centricity is a key driver across industries. Prescriptive analytics enables businesses to personalize customer experiences by analyzing customer data, preferences, and behavior patterns. This helps organizations deliver targeted marketing campaigns, personalized recommendations, and tailored product offerings.

One key market trend in the prescriptive analytics market is the growing adoption of AI-driven decision-making solutions across various industries. Organizations are increasingly recognizing the value of prescriptive analytics in optimizing operations, enhancing customer experiences, and achieving competitive advantages. This trend is driven by the need to make data-informed decisions in real-time, enabling companies to respond to dynamic market conditions effectively. With advancements in machine learning and big data technologies, prescriptive analytics is becoming more accessible and affordable, attracting a broader range of businesses. As a result, the prescriptive analytics market is expected to continue its rapid growth in the coming years.

In 2022, North America accounted for a significant market share of over 45% of the worldwide advanced analytics market. This can be linked to the availability of the infrastructure necessary for the application of cutting-edge analytics and to the rise in the use of cutting-edge technologies like AI and machine learning. For example, Microsoft Corporation recently announced a partnership with Consumer Value Store (CVS) Health, a provider of healthcare solutions, to create cutting-edge solutions to assist consumers in improving their health. To automate operations, CVS Health would use cognitive services from Azure including Computer Vision and Text Analytics for Health. By increasing CVS Health's multi-cloud presence to more than 1,500 new and current business apps on its cloud, the Azure services will hasten the company's digital transformation.