Decision Management Market Trends, Share, Insights And Forecast To 2033

"The new report published by The Business Research Company, titled ""Decision Management Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the decision management market size has grown rapidly in recent years. It will grow from $5.66 billion in 2023 to $6.77 billion in 2024 at a compound annual growth rate (CAGR) of 19.5%. The decision management market size is expected to see rapid growth in the next few years. It will grow to $14.00 billion in 2028 at a compound annual growth rate (CAGR) of 19.9%.

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The Rise Of Artificial Intelligence Driving The Decision Management Market Growth
The growing demand for artificial intelligence (AI) is expected to propel the growth of the decision management market going forward. Artificial intelligence (AI) refers to the simulation of human intelligence processes by machines, particularly computer systems. The demand for AI arises because of data proliferation, advancements in AI algorithms, the availability of computing power, and growing awareness and education. Decision management is used to harness the power of AI to automate, optimize, and improve decision-making processes across various industries and applications. For instance, in May 2022, according to the IBM Global AI Adoption Index 2022 report released by the International Business Machines Corporation, a US-based information technology corporation, a poll conducted of 7,502 businesses found that more than a third of businesses (35%) reported using AI in their operations, a four-point rise from 2021, and 42-64% were exploring its potential. 64% of businesses believe that AI will improve business productivity, and 42% believe it will streamline job processes. In 2022, there was a 13% increase in the likelihood of organizations adopting AI compared to the previous year, 2021. Therefore, the growing demand for artificial intelligence (AI) is driving the growth of the decision management software market.

AI-Assisted Interactive Tools Redefining The Decision Management Landscape
Major companies operating in the decision management market are increasing their focus on developing innovative tools, such as artificial intelligence (AI)-assisted interactive decision management tools, to gain a competitive edge in the market. An AI-assisted interactive decision management tool is a software application that utilizes artificial intelligence algorithms to support users in making informed decisions. For instance, in March 2024, Sparkling Logic, a US-based software company, launched AI Assistant. An interactive decision management tool that is embedded in Sparkling Logic's SMARTS business rules and decision management platform. The tool is designed to assist users with decision-making tasks throughout the decision-management lifecycle. AI Assistant uses a large language model (LLM) form of generative AI that has been pre-trained on various decision management tasks. This enables users to interact with AI assistants using natural language to create and modify project assets such as data, decision flows, and business rules.

The decision management market covered in this report is segmented -

1) By Deployment: On-Premise, Cloud-Based
2) By Enterprise Type: Small And Medium Enterprises(SMes), Large Enterprises
3) By Function: Data Analytics, Business Process And Rule Management, Operations Research, Robotics
4) By Industry: Automotive, Banking, Financial Services, And Insurance (BFSI), Healthcare, Manufacturing, Retail, Information Technology (IT) And Telecommunications, Other Industries

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Major companies operating in the decision management market are Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, Salesforce Inc., CGI Inc., Moodys Investors Service Inc, Equifax Inc., Experian plc, SAS Institute Inc., Pegasystems Inc., SAP SE, ACI Worldwide Inc., Fair Isaac Corporation, TIBCO Software Inc., Quantiphi Inc., Altair Engineering Inc., Sapiens International, Appian Corporation, Aible Inc., Meridian Link, Bosch Software Innovations GmbH, RapidMiner Inc., ACTICO GmbH, InRule Technology Inc., Neota Logic Inc.

Contents of the report:
1. Executive Summary
2. Decision Management Market Report Structure
3. Decision Management Market Trends And Strategies
4. Decision Management Market - Macro Economic Scenario
5. Decision Management Market Size And Growth
…..
27. Decision Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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