Overview and Scope
Decision management refers to the systematic process of identifying, automating, and optimizing decisions within an organization to improve efficiency, effectiveness, and consistency. It involves utilizing data, analytics, and technology to support decision-making across various business functions. The goal of decision management is to optimize decision-making processes, increase operational efficiency, and capitalize on opportunities to meet strategic objectives.
Sizing and Forecast
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.
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/decision-management-global-market-report
Segmentation & Regional Insights
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
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.
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14896&type=smp
Major Driver Impacting 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.
Key Industry 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.
The decision management market report table of contents includes:
1. Executive Summary
2. Decision Management Market Characteristics
3. Decision Management Market Trends And Strategies
4. Decision Management Market – Macro Economic Scenario
5. Global Decision Management Market Size and Growth
….
32. Global Decision Management Market Competitive Benchmarking
33. Global Decision Management Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Decision Management Market
35. Decision Management Market Future Outlook and Potential Analysis
36. Appendix
Explore the trending research reports from TBRC:
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
