2025 Prescriptive Analytics Market Outlook: Key Indicators Shaping Growth Through 2034

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What Will the Prescriptive Analytics Industry Market Size Be by 2025?
The market size of prescriptive analytics has witnessed a massive expansion over the past few years. Its growth is expected to increase from $8.57 billion in 2024 to $10.8 billion in 2025, with a compound annual growth rate (CAGR) of 26.1%. The remarkable growth during the historical period is accredited to the surge in quantity and intricacy of data, improvements in machine learning algorithms, the emergence of big data analytics, industry-specific uptake, and a growing recognition of the advantages of analytics.

What's the Long-Term Growth Forecast for the Prescriptive Analytics Market Size Through 2029?
Expectations indicate a significant surge in the prescriptive analytics market size in the coming years, forecasting a projection of $27.4 billion by 2029 with a compound annual growth rate (CAGR) of 26.2%. Factors contributing to growth during the forecast period involve the rise of real-time prescriptive analytics, the interconnection with the internet of things (IoT), an increase in cloud-based solutions, breakthroughs in explainable AI and tailor-made solutions for specific business needs. Key trends for this period anticipate inter-industry collaborations, advancements in machine learning algorithms, a focus on real-time prescriptive analytics, adoption across various industries, and the emergence of ethical and explainable prescriptive analytics.

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What Are the Key Growth Drivers Fueling the Prescriptive Analytics Market Expansion?
The expansion of the Internet of Things (IoT) is projected to stimulate the evolution of the prescriptive analytics marketplace. IoT involves a comprehensive network of linked apparatuses alongside the technology that facilitates communication between them and the cloud. Prescriptive analytics harnesses IoT to offer real-time information from connected instruments and sensors. This data is examined to expose patterns, trends, and offer insights on recommended actions. For example, the IoT Analytics State of IoT-Spring 2023 report revealed in May 2023, that there were 14.3 billion active IoT connections globally in 2022, a surge of 18% from 2021. Moreover, in 2023, there will be 16.7 billion active endpoints across the globe, indicating a 16% rise in connected IoT devices. Consequently, the escalating adoption of Internet of Things (IoT) catalyzes the expansion of the prescriptive analytics market. Prescriptive Analytics Market Driver: Proliferation of Internet Accessibility and Consumption of Social Networking Platforms Propel Prescriptive Analytics Market

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What Are the Key Trends Driving Prescriptive Analytics Market Growth?
Major players in the prescriptive analytics market are spearheading innovations such as retail prescriptive analytics systems to drive growth in their businesses. Retail prescriptive analytics systems are software solutions that utilize data analysis and machine learning technologies to supply specific advice and action plans to retailers. For example, Kepler Analytics, a tech firm based in Australia, unveiled its retail prescriptive analytics system in January 2023. This novel system detects potentially missed sales opportunities at a granular, zone-by-zone level, and provides real-time advice to immediately enhance sales and profits across one or more stores. The system processes data collected by the company's proprietary in-store sensors, delivering a holistic feedback loop to store managers. This allows retailers to comprehend what measures were implemented and identify the ones that led to the highest sales growth.

How Is the Prescriptive Analytics Market Segmented?
The prescriptive analytics market covered in this report is segmented -

1) By Solution: Software, Services
2) By Deployment Mode: Cloud, On-Premises
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SME's)
4) By Application Type: Risk Management, Operations Management, Revenue Management, Network Management, Supply Chain Management, Workforce Management
5) By Industry Vertical: Manufacturing, Energy And Utilities, Media And Entertainment, Transportation And Logistics, Healthcare And Life Sciences, Retail And Consumer Goods, Banking Financial Services And Insurance (BFSI), Information Technology And Telecommunications, Other Industry Verticals

Subsegments:
1) By Software: On-Premises Software, Cloud-Based Software, Integrated Analytics Platforms
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services

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Which Companies Are Leading the Charge in Prescriptive Analytics Market Innovation?
Major companies operating in the prescriptive analytics market report are Microsoft Corporation, Koch Industries Inc., The International Business Machines (IBM) Corporation, Oracle Corporation, SAP SE, Salesforce Inc., Infor, SAS Institute Inc., Teradata corporation, Fair, Isaac and Company (FICO), TIBCO Software Inc., Altair Engineering Inc., Talend SA, Happiest Minds Technologies, Mitek Analytics, BOARD International S.A., Pros Inc., Zilliant Inc., Logi Analytics Inc., Sisense Inc., RapidMiner Inc., Improvado, Stitch Data, River Logic Inc., Ayata, Ngdata Inc.

Which Regions Are Leading the Global Prescriptive Analytics Market in Revenue?
North America was the largest region in the prescriptive analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the prescriptive analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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