Decision Intelligence Market to Reach USD 39.3 Billion by 2031 | Top Players Such as - Metaphacts, Diwo.ai and Clarifai

According to the report published by Allied Market Research, The Decision Intelligence Market to Reach USD 39.3 Billion by 2031 | Top Players Such as - Metaphacts, Diwo.ai and Clarifai. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

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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The global decision intelligence market was valued at USD 9.8 billion in 2021, and is projected to reach USD 39.3 billion by 2031, growing at a CAGR of 15.2% from 2022 to 2031.

The global decision intelligence market is segmented on the basis of component, deployment mode, enterprise size, industry vertical, and region. On the basis of component, it is segregated into platform, solutions, and services. On the basis of deployment mode, it is segregated into cloud and on-premises. On the basis of enterprise size, it is segregated into large enterprises and small and medium-sized enterprises (SMEs). On the basis of industry vertical, it is segregated into energy and utilities, BFSI, IT and telecom, government, healthcare, manufacturing, retail and consumer goods, and others. On the basis of region, it is segregated into North America, Europe, Asia-Pacific, and LAMEA.

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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.

The decision intelligence industry is dominated by key players such as Google LLC, Oracle Corporation, Microsoft Corporation, Board International, Metaphacts GmbH, H2O.ai, International Business Machines Corporation, Intel Corporation, Diwo.ai, and Clarifai, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in 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 intelligence software at that time to observe the workflow and make better decisions easily and remotely.

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