Management Decision Market to Reach USD 11.64 Billion by 2027 | Innovative Strategies for Smarter Management Decisions

Rapidly changing government and industry regulations across countries, increase in demand of decision management solutions, and growing requirement to automate high-volume decisions across the enterprises propel the growth of the global management decision market. On the other hand, scarcity of skilled personnel with sufficient knowledge impedes the growth to some extent. Nevertheless, ongoing partnership & product launches and rise in expenditure on analytics is expected to pave the way for new opportunities in the future.

According to the report published by Allied Market Research, the global management decision market was estimated at $4.13 billion in 2019 and is expected to hit $11.64 billion by 2027, registering a CAGR of 13.7% from 2020 to 2027.

The report provides an all-inclusive analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

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Covid-19 Scenario-

➢ The outbreak of the pandemic led to changing working strategies and this, in turn, paved the way for increased demand for management decision making software.

➢ Also, there's been a steep rise in need to automate high-volume decisions in organizations across the globe to improve consistency, and accuracy during remote working. This factor has also boosted the global market for management decision making software.

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The global management decision market is analyzed across component, deployment model, function, organization size, and region. Based on component, the software segment contributed to more than three-fifths of the total market share in 2019, and is anticipated to lead the trail during the forecast period. The services segment, on the other hand, is projected to showcase the fastest.

Based on deployment model, the on-premise segment accounted for three-fifths of the total market revenue in 2019, and is expected to rule the roost by the end of 2027. Simultaneously, the cloud-based segment would register the fastest CAGR of 14.6% during the forecast period.

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Based on geography, North America held the major share in 2019, generating nearly two-fifths of the global market. At the same time, Asia-Pacific is estimated to generate the fastest CAGR of 17.0% from 2020 to 2027. The other two regions studied in the report include Europe and LAMEA.

The global management decision market is experiencing growth due to several key factors. These include the rapid evolution of government and industry regulations on a global scale, a rising demand for decision management solutions driven by the need to manage increasing volumes of critical data in complex business scenarios, and the growing necessity to automate high-volume decisions in enterprises to enhance agility, consistency, and accuracy. Moreover, the market is expected to be propelled by continuous partnerships and product launches within the decision management sector, as well as an increase in investments in analytics. However, the growth of the market may face challenges in the form of a shortage of skilled professionals with the requisite knowledge and the burden of information overload within enterprises, both of which are expected to hinder market expansion during the forecast period.

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Advanced rules management solutions and automated machine learning technologies play a pivotal role in automating decision management across various industries. The evolution of rules management systems on technological platforms empowers users to efficiently handle rules and decision-making processes. One noteworthy illustration is the use of visualization tools for implementing and overseeing intricate decision logic, thereby transforming the landscape of business automation. In the context of digital transformation, modern businesses are confronted with the need to make intricate decisions at an escalating scale and promptly execute them. Consequently, many enterprises have redirected their attention to decision management solutions, enabling them to automate high-value, high-volume decisions that are both transparent and instantaneous.

Leading Market Players:

➢ Fair Isaac Corporation
➢ Salesforce.com, Inc.
➢ ACTICO GmbH
➢ IBM Corporation
➢ SAS Institute Inc.
➢ Oracle Corporation
➢ Manthan Software Services Pvt. Ltd.
➢ Tibco Software
➢ Sapiens International
➢ Experian Information Solutions, Inc.

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