Advanced hardware prefetch engines are being integrated in current high-performance processors. Prefetching can boost the performance of most applications, however, the induced bandwidth consumption can lead the system to a high contention for main memory bandwidth, which is a scarce resource in current multicores. In such a case, the system performance can be severely damaged. This article characterizes the applications’ behavior in an IBM POWER8 machine, which presents many prefetch settings, varying the bandwidth contention. The study reveals that the best prefetch setting for each application depends on the main memory bandwidth availability, that is, it depends on the co-running applications. Based on this study, we propose Bandwidth-Aware Prefetch Configuration (BAPC) a scalable adaptive prefetching algorithm that improves the performance of multi-program workloads. BAPC increases the performance of the applications in a 12, 15, and 16 percent of 6-, 8-, and 10-application workloads over the IBM POWER8 default configuration. In addition, BAPC reduces bandwidth consumption in 39, 42, and 45 percent, respectively.