According to market research
report "Management Decision Market by Software, Service, Deployment
Type, Function (Credit Risk Management, Collection Management, Customer Experience
Management), Organization Size, Industry, And Region – Global Forecast to 2022
"The management
decision market size is projected to reach USD 6.18 Billion by 2022. The
management decision market size is expected to grow from USD 3.09 Billion in 2017
to USD 6.18 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.9%
during the forecast period. Increase in need for business agility and faster
operational decisions is the major driver of the management decision market
growth. Moreover, it is increasingly important for enterprises to adhere to
increasing government compliance, and accelerate return on investment for
organizations , which drive the management decision market growth.
Browse and
in-depth TOC on “Management
Decision Market”
67
- Tables
41
- Figures
136
- Pages
Rapid adoption of
management decision software, owing to robust and well-established economies,
is expected to make North America the largest regional market.
In the US and Canada,
organizations have rapidly adopted and invested in the emerging technologies,
such as analytics, big data, and cloud platforms. North America has the
first-mover advantage of adopting new technologies, such as big data and cloud
platforms. Moreover, there has been an increasing demand among enterprises to
automate business decision-making process and increase productivity in the
region. Several companies willingly invest in North America due to presence of
numerous large enterprises in the region. The factors driving the growth of the
management decision market in North America are stable economy, technology
enhancements, and optimized infrastructure costs.
The BFSI segment is
expected to account for the largest market size during the forecast period.
The Banking, Financial
Services, and Insurance (BFSI) segment includes commercial banks, insurance
companies, non-banking financial companies, stock brokerage firms, and payment
gateway providers. This industry deals with critical financial data and credit
risks; hence, it is a good contributor in the management decision market. Owing
to the continuous changes in the competitive environment, companies need to
enhance their operational efficiencies. Hence, management decision software
empowers financial institutions to automate their business decision-making
process to enhance the operational efficiencies of an organization.
Furthermore, growing need to deal with increasing number of recurring operation
decisions daily is expected to drive the demand for management decision
software.
The large enterprises
segment is expected to gain a larger market share during the forecast period.
Organizations with more
than 1,000 employees are categorized as large enterprises. Large enterprises
have their customers across various regions and account for high market shares,
technical expertise, and effective business strategies. This large enterprises
are expected to invest in new and latest technologies to run their business
effectively. The market size of the management decision market is larger in the
large enterprises segment. Moreover, adoption of management decision software
in large enterprises has become an integral part of these large-scale
organizations to sustain in the competitive market. Furthermore, large
enterprises prefer implementing software and services that are expected to
assist them in increasing their profits.
The major vendors in the
management decision market include FICO (US), SAS (US), TIBCO (US), Oracle
(US), IBM (US), Sapiens (Israel), Experian (Ireland), ACTICO (Germany),
Pegasystems (US), Equifax (US), Parmenides (Germany), Decision Management
Solutions (US), OpenRules (US), and Sparkling Logic (US).
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