Decision Management Market Size to Surpass USD 15.49 Billion by 2030, exhibiting a CAGR of 16.7%

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Pune, India, May 09, 2023 (GLOBE NEWSWIRE) — According to Fortune Business Insights, global decision management market size was valued at USD 4.66 billion in 2022 and is projected to grow from USD 5.25 billion in 2023 to USD 15.49 billion by 2030, exhibiting a CAGR of 16.7% during the forecast period. Increasing Adoption of Management Market in Business to Boost Market Growth. Fortune Business Insights presents this information in its report titled “Decision Management Market Forecast, 2023-2030.”

Decision management is the method of building, designing, and managing automated decision-making systems. It is a business process incorporating advanced analytics and business rules to automate organizational decision-making.

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Key Industry Development:

February 2023: Equifax has stated that it has acquired The Food Industry Credit Bureau – Canada’s leading food industry provider, Profile Credit. The acquisition is anticipated to increase the breadth of small business insights available to Equifax clients in Canada and globally.

Key Takeaways

• Decision management market size in North America was USD 2.01 Billion in 2022
• AI-based decision automation technologies to propel market growth
• The global demand is driven increasing applications of software in the finance sector
• The BFSI segment is expected to hold a major market share during the projected period

Discover the Leading Players Featured in the Report:

“Companies leading the global decision management market are Experian PLC (Ireland), Equifax, Inc. (U.S.), Moody’s Investors Service, Inc. (U.S.), Meridian Link (U.S.), Fair Issac Corporation (U.S.), CGI, Inc. (U.S.), Pega Systems, Inc. (U.S.), Sapiens International (Israel), SAS Institute, Inc. (U.S.), Salesforce, Inc. (U.S.)”

Report Scope & Segmentation

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Drivers & Restraints:

Abundant Use of Such Solutions in Business and Trading to Escalate the Market Growth

With the increasing implementation of digital technologies, applications of decision management software in the finance sector are gaining popularity. These solutions provide help to financial organizations in with a platform-based approach to compliance, customer acquisition, risk management, and customer retention. Along with the increasing requisites for credit resources, related risk also increases. Hence, decision management market growth is expected to escalate.

However, excessive load of information on automation software affects the software utilities to hinder the market growth.

Segmentation: 

By Function

• Data Analytics
• Business Process & Rule Management
• Operations Research
• Robotics

By Deployment

• On-Premise
• Cloud-Based

By Enterprise Type

• Small and Medium Enterprises (SMEs)
• Large Enterprises

By Industry

• Automotive
• BFSI
• Healthcare
• Manufacturing
• Retail
• IT & Telecom
• Others (Government, Energy & Utilities, etc.)

By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

Regional Insights:       

Increasing Number of Mergers and Partnerships to drive North America Market

North America is estimated to dominate the decision management market share in 2022. To expand their customer base, key players in North American countries engage in mergers, partnerships, and acquisitions with small businesses to support their businesses.

Europe is estimated to grow with a noteworthy CAGR during the forecast period. The market is driven by EU-wide digital initiatives. Countries are mainly focused on creating high-level security programs. Many European firms.

The market in the Asia Pacific is estimated to grow exponentially from 2023-2030. Companies, to satisfy customer needs, are innovating new decision management products and are re-inventing existing products.

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Competitive Landscape

Key Players Focus on Partnerships to Gain a Competitive Advantage

Prominent market players are collaborating by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio. In February 2022, FICO partnered with Advanced Financial Solutions (AFS) to increase automated decision management in the Middle East. The partnership is set to help the businesses across the region by providing the access to the tools and firms to make projects effective.

FAQs

How big is the decision management market?

Decision management market size was USD 4.66 billion in 2022. It is expected to reach USD 15.49 billion by 2030.

How fast is the decision management market growing?

The decision management market will exhibit a CAGR of 16.7% during the forecast period, 2023-2030.

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