28-Aug-2020 | Zion Market Research
As per analysts at Zion Market Research, Global Management Decision Market was valued at USD 3,765.7 Million in 2019 and is expected to reach over USD 9,775.5 Million by 2026, growing at a CAGR of around 14.6% during the forecast period from 2020 to 2026. Management decision solutions assist companies in making data-driven decisions by pertaining to business rules, AI (artificial intelligence), business intelligence, analytics, predictive analysis, and related technologies. These solutions aid in enhancing the liveliness, speed, and accuracy of the decision-making courses of any organization. The management decision solutions are planned particularly for business managers so as to offer them better control about the organization’s decision policies. By utilizing management decision solutions, businesses can authorize, control, and automate decisions to improve value & reliability in customer communications and ensure conformity with regulations.
Some of the key players in the global market are SAS Institute, Inc.; FICO (Fair Isaac Corporation); Experian Information Solutions, Inc.; ACTICO GmbH; Sapiens International Corporation; Decision Management Solutions; Oracle Corporation; TIBCO Software Inc.; Sparkling Logic; SPSS Inc.; OpenRules; and IBM Corporation.
Increasing Need To Automate High-Volume Decisions To Spur Global Management Decision Market
The need for management decision solutions is increasing at a faster rate amongst enterprises around the globe. This is mainly due to a surge in need to automate high-volume decisions in the organization and to bring consistency, agility, and accuracy in the decision-making process. Nevertheless, the confrontation of middle management to implement management decision solutions is a major aspect anticipated to limit the development of the management decision solutions market globally. The surge in the advancement of innovative technologies—like cloud and big data that enhance the competence of management decision solutions—is likely to generate lucrative opportunities for the development of the management decision solutions market in the future. Additionally, the surge in spending on analytics is expected to provide noteworthy opportunities for the market over the estimated period.
The global management decision market is bifurcated on the basis of component, function, deployment type, organization size, industry, and regional analysis. Based on the component, the market is divided into software and services. The services segment is subdivided into support & maintenance, deployment & integration, and consulting. Based on the function, the market is divided into collection management, credit risk management, fraud detection management, customer experience management, pricing optimization, and others (project prioritization & decision automation). Based on the deployment type, the market is divided into cloud and on-premises. Based on the organization size, the market is divided into large enterprises and SMEs. Based on the industry, the market is divided into telecom & IT, BFSI, healthcare & life sciences, retail & consumer goods, transportation & logistics, manufacturing, government, energy & utilities, and others (education and media & entertainment).
The North America Region Likely To Dominate The Global Management Decision Market Over Forecasted Period
Based on geographical analysis, the global management decision market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The North American region is anticipated to contribute to the major market size and rule the management decision market in the future. North America has a high application of telecom & IT, BFSI, and healthcare & life sciences firms that chiefly contribute to the implementation of management decision solutions. Nevertheless, the Asia Pacific region is likely to present high development opportunities for the suppliers of management decision software. This is owing to surging commercial investments by many organizations in developing countries.
Browse the full “Management Decision Market - by Component (Software, Services), by Function (Collection Management, Customer Experience Management, Fraud Detection Management, Pricing Optimization, Credit Risk Management, Others), by Deployment (Cloud, On-Premises), by Organization Size (Large Enterprises, SMEs), by Industry (Banking, Financial Services, And Insurance, Retail And Consumer Goods, Telecom And IT, Healthcare And Life Sciences, Manufacturing, Government, Transportation And Logistics, Energy And Utilities, Others), and by Region: Global Industry Perspective, Comprehensive Analysis and Forecast 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/management-decision-market
The global management decision market is segmented as follows:
By deployment type:
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