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Decision Intelligence Market Expected to Reach USD 39.3 Billion by 2031 | Key Players - H2O.ai, Diwo.ai and Clarifai

06-05-2023 08:14 PM CET | IT, New Media & Software

Press release from: Allied Market Research

Decision Intelligence Market Expected to Reach USD 39.3 Billion

According to the report published by Allied Market Research "The Decision Intelligence Market Expected to Reach USD 39.3 Billion by 2031 | Key Players - H2O.ai, Diwo.ai and Clarifai." These players have adopted different strategies such as new product launches collaborations expansion joint ventures agreements and others to increase their market share and maintain dominant shares in different regions.

The growing need to reduce specific risks related to human decision-making, and the advent of ML and AL which are enabling a variety of sectors to fully utilize decision intelligence drive the decision intelligence market. However, concerns regarding data security and privacy hinder global market growth. On the other hand, rapid advancements in big data technology that will lead to actionable business information will present new growth opportunities for the global decision intelligence market in the coming years.

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Based on deployment mode, the on-premise segment grabbed the highest share of more than two-thirds of the overall decision intelligence market in 2021 and is projected to maintain its dominance in 2031. This is owing to the superior data protection provided on-premise while allowing businesses to comply with various regulatory standards. However, the cloud segment is expected to witness the fastest CAGR of 16.7% from 2022 to 2031. This is owing to the surge in cloud data warehouses and cloud decision intelligence being used increasingly to solve decision making problems.

Based on enterprise size, the large enterprise segment grabbed the highest share of nearly two-thirds of the overall decision intelligence market in 2021 and is projected to maintain its dominance in 2031. However, the small and medium-sized enterprises (SMEs) segment is expected to witness the fastest CAGR of 16.7% from 2022 to 2031. This is because of BI tools that users with little or no coding experience can create to develop more robust BI. These applications and connections make it simple to automate and combine corporate operations, including people, data, technology, and procedures.

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Based on region, the market in North America was the largest in 2021, accounting for nearly one-third of the global decision intelligence market. This is because advanced technologies such as AI, ML, intelligent apps, and natural language queries are used to transform data dashboards and business analytics into more comprehensive decision-support platforms in the region. However, the market in Asia-Pacific is likely to dominate in terms of revenue and exhibits the fastest CAGR of 18.1% during the forecast period. Enterprises across Asia-Pacific leverage engineered decision making for substantial and consistent positive decision making.

Key players profiled in the decision intelligence industry include Google LLC, Oracle Corporation, Microsoft Corporation, Board International, Metaphacts GmbH, H2O.ai, International Business Machines Corporation, Intel Corporation, Diwo.ai, and Clarifai, Inc. Market players have adopted various strategies, such as product launches, collaboration & partnership, joint ventures, and acquisition to expand their foothold in the decision intelligence industry.

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Covid-19 Scenario

● The impact of COVID-19 had a mixed impact on the decision intelligence market.

● The market faced challenges, owing to the lockdowns and restrictions imposed by governments across the globe, which led to a decline in consumer spending on luxury items, including decision intelligence products.

● However, the COVID-19 pandemic also had a positive effect on the market for decision intelligence. Many businesses deployed intelligent software at that time to observe the workflow and make better decisions easily and remotely.

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Lastly this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Access the full summary at: https://www.alliedmarketresearch.com/decision-intelligence-market-A53623

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

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