Decision Management Market

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Decision Management Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $14.00 Bn In 2028 At A CAGR Of 19.9% :

The decision management market size has grown rapidly in recent years. It will grow from $5.66 billion in 2023 to $6.77 billion in 2024 at a compound annual growth rate (CAGR) of 19.5%. The growth in the historic period can be attributed to focus on customer experience management solutions, growing demand for Automation in decision processes, growing demand for Personalization in decision-making, growing importance of agility in decision processes, increasing migration to Cloud Computing solutions.

The decision management market size is expected to see rapid growth in the next few years. It will grow to $14.00 billion in 2028 at a compound annual growth rate (CAGR) of 19.9%. The growth in the forecast period can be attributed to growing emphasis on predictive analytics, growing integration of Internet of Things (IoT) data, raising regulatory compliance requirements, increasing reliance on big data analytics, raising demand for decision support systems (DSS). Major trends in the forecast period include technological advancement, expansion of predictive analytics applications, advancements in big data analytics technologies, integration of internet of things (IoT) data streams, integration of customer relationship management (CRM) data.

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Decision Management Market Major Segments
The decision management market covered in this report is segmented -

1) By Deployment: On-Premise, Cloud-Based
2) By Enterprise Type: Small And Medium Enterprises(SMes), Large Enterprises
3) By Function: Data Analytics, Business Process And Rule Management, Operations Research, Robotics
4) By Industry: Automotive, Banking, Financial Services, And Insurance (BFSI), Healthcare, Manufacturing, Retail, Information Technology (IT) And Telecommunications, Other Industries

Key Driver - The Rise Of Artificial Intelligence Driving The Decision Management Market Growth

The growing demand for artificial intelligence (AI) is expected to propel the growth of the decision management market going forward. Artificial intelligence (AI) refers to the simulation of human intelligence processes by machines, particularly computer systems. The demand for AI arises because of data proliferation, advancements in AI algorithms, the availability of computing power, and growing awareness and education. Decision management is used to harness the power of AI to automate, optimize, and improve decision-making processes across various industries and applications. For instance, in May 2022, according to the IBM Global AI Adoption Index 2022 report released by the International Business Machines Corporation, a US-based information technology corporation, a poll conducted of 7,502 businesses found that more than a third of businesses (35%) reported using AI in their operations, a four-point rise from 2021, and 42-64% were exploring its potential. 64% of businesses believe that AI will improve business productivity, and 42% believe it will streamline job processes. In 2022, there was a 13% increase in the likelihood of organizations adopting AI compared to the previous year, 2021. Therefore, the growing demand for artificial intelligence (AI) is driving the growth of the decision management software market.

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Prominent Trend - AI-Assisted Interactive Tools Redefining The Decision Management Landscape

Major companies operating in the decision management market are increasing their focus on developing innovative tools, such as artificial intelligence (AI)-assisted interactive decision management tools, to gain a competitive edge in the market. An AI-assisted interactive decision management tool is a software application that utilizes artificial intelligence algorithms to support users in making informed decisions. For instance, in March 2024, Sparkling Logic, a US-based software company, launched AI Assistant. An interactive decision management tool that is embedded in Sparkling Logic's SMARTS business rules and decision management platform. The tool is designed to assist users with decision-making tasks throughout the decision-management lifecycle. AI Assistant uses a large language model (LLM) form of generative AI that has been pre-trained on various decision management tasks. This enables users to interact with AI assistants using natural language to create and modify project assets such as data, decision flows, and business rules.

Decision Management Market Players
Major companies operating in the decision management market are Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, Salesforce Inc., CGI Inc., Moodys Investors Service Inc, Equifax Inc., Experian plc, SAS Institute Inc., Pegasystems Inc., SAP SE, ACI Worldwide Inc., Fair Isaac Corporation, TIBCO Software Inc., Quantiphi Inc., Altair Engineering Inc., Sapiens International, Appian Corporation, Aible Inc., Meridian Link, Bosch Software Innovations GmbH, RapidMiner Inc., ACTICO GmbH, InRule Technology Inc., Neota Logic Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the decision management market in 2023. The regions covered in the decision management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Decision Management Market Report Structure
3. Decision Management Market Trends And Strategies
4. Decision Management Market - Macro Economic Scenario
5. Decision Management Market Size And Growth
…..
27. Decision Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

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