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 2026", published by MarketsandMarkets™, the global Management
Decision Market size is expected to grow at a Compound Annual Growth Rate
(CAGR) of 13.5% during the forecast period, to reach USD 9.0 billion by 2026
from USD 4.8 billion in 2021. Key factors that are expected to drive the growth
of the market are the rising need to improve the quality of decisions and
achieve business agility with enhanced effectiveness, growing need for faster
operational decisions and improve process efficiency, and compelling need to
manage regulatory and compliance standards. These factors are driving the
demand for management decision.
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in-depth TOC on "
Management Decision Market”
314- Tables
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Services segment to hold a larger
market size during the forecast period
The services segment for Management
Decision Market is expected to grow at a higher CAGR due to the need of
deployment and integration, support and maintenance, and consulting services
for ensuring smooth functioning of business decision management software
solutions. These services help in enhancing business agility with improved and
intelligent decision-making capabilities and support. The services ensure
compliance standards by providing explainable decision tree-based strategies
that better meet the organizations goals and constraints, built using powerful
and interpretable optimization models and frameworks. Enterprises need active
support from skilled professionals to minimize their management decision
software downtime during the pre-and post-installation of solutions. These
services provide the support needed to uphold the efficiency of business
processes, increase enterprise growth, and reduce unwanted IT expenses.
SMEs segment to grow at the
highest CAGR during the forecast period
Enterprises with less than 1,000
employees are defined as SMEs. These enterprises face greater challenges of a
limited budget than large enterprises and require better methods to resolve
complexities for improving the cost optimization of their business processes.
However, the SMEs segment is expected to grow at a higher CAGR during the
forecast period. Due to the limited budget, SMEs mostly prefer cloud-based
solutions over on-premises solutions, and this adoption trend is expected to
accelerate in the years to come, enabling the cloud deployment type to have a
considerable market size during the forecast period. Moreover, SMEs use
management decision software for enhanced decision making, which provides
enhanced insights from the business data repository leading to more relevant
and personalized business decision-making in near real-time with reduced time
and cost. These factors are also expected to encourage more SMEs to adopt
management decision software and services at a rapid pace. This segment has a
huge potential and will continue to flourish in the Management Decision Market
in the coming years.
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Energy and utilities industry vertical
to grow at the highest CAGR during the forecast period
Energy and utilities is one of the
fastest-growing verticals with respect to the adoption of advanced technologies
and services in terms of the Management Decision Market. Management decision software
provides a next-generation advanced analytics platform that can help any
business operating within the energy and utility lifecycle transform
capabilities such as demand and load forecasting, energy pricing and analysis,
customer onboarding and lifecycle management, and internal operations such as
predictive maintenance (AI/ML).
North America to account for the
highest market share during the forecast period
The Management Decision Market is
segmented into five regions: North America, Europe, APAC, MEA, and Latin
America. The management decision report provides insights into these regional
markets in terms of market size, growth rates, future trends, market drivers,
and COVID-19 impact. North America is expected to hold the highest market share
in the overall Management Decision Market during the forecast period. Following
North America, Europe is expected to hold the second-highest market share
during the forecast period. High need to improve decision making quality with
enhanced business agility and meet compliance standards is expected to drive
the North American and European markets. APAC and MEA are also expected to
witness high growth rates during the forecast period.
The Management Decision Market comprises major
providers, such as IBM (US), FICO (US), SAS (US), Oracle (US), Pegasystems
(US), TIBCO Software (US), Sapiens International Corporation (Israel), Experian
(Ireland), Equifax (US), Actico (Germany), Parmenides (Germany), Decision
Management Solutions (US), OpenRules (US), Sparkling Logic (US), Scorto
(Netherland), RapidGen (UK), Progress (US), InRule (US), CRIF (Italy),
Decisions (US), Enova Decisions (US), FlexRule (Australia), Rulex (US), Seon
(UK), and Decisimo (UK). The study includes an in-depth competitive analysis of
key players in the Management Decision Market with their company profiles,
recent developments, COVID-19 developments, and key market strategies.
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Source: https://www.marketsandmarkets.com/PressReleases/management-decision.asp
Report: https://www.marketsandmarkets.com/Market-Reports/management-decision-market-21799742.html
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