The new report by Expert Market Research titled, ‘Global Management Decision Market Size Report and Forecast 2023-2028’, gives a detailed analysis of the global management decision market. It assesses the market based on segments like components, deployment models, functions, organisation size, industry vertical, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Management Decision Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 4.7 billion
- Forecast CAGR (2023-2028): 14%
- Forecast Market Size (2026): USD 10.2 billion
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Over the forecast period, the software segment is expected to hold a significant market share. This is due to an increase in the use of decision-making software in business process systems by companies dealing with banking, financial services, and insurance. The growing demand for training and consulting is expected to propel the segment forward, owing to the growing need for expertise and low investments required to upgrade decision management capabilities.
North America is expected to dominate the management decision industry. North America has a large number of Healthcare, IT and Telecom, BFSI, and Life Sciences companies, all of which contribute significantly to the use of management decision solutions. Furthermore, organisations in North America countries like Canada and the United States have invested in and adopted emerging technologies like analytics, cloud platforms, and big data. This is expected to boost the management decision industry’s growth.
Management Decision Industry Definition and Major Segments
Management decision, also known as enterprise decision management (EDM), encompasses all aspects of developing, designing, and automating decision-making systems. These systems can be used by organisations to manage interactions with employees, suppliers, and customers by utilising tools such as business intelligence, artificial intelligence, predictive analytics, and continuous improvement.
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On the basis of component, the industry can be segmented into:
• Software
• Services
On the basis of deployment model, the industry can be segmented into:
• On-Premise
• Cloud
On the basis of function, the industry can be segmented into:
• Credit Risk Management
• Compliance Management and Fraud Detection
• Customer Experience Management
• Pricing Optimisation
• Others
On the basis of organisation size, the industry can be segmented into:
• Large Enterprises
• Small and Medium Sized Enterprises
On the basis of industry vertical, the market can be categorised into:
• BFSI
• IT and Telecom
• Retail and E-Commerce
• Healthcare
• Manufacturing
• Energy and Utilities
• Government
• Automotive
• Others
The regional markets include:
• Asia Pacific
• North America
• Latin America
• Europe
• Middle East and Africa
Management Decision Market Trends
Rapid technological advancements are driving an increase in demand for decision management solutions across various industry verticals. Over the past few years, the management decision industry has seen significant growth. Further industry growth is expected, supported by favourable government regulations across countries, rapidly changing industries, growing necessity to automate high volume decisions across organisations, and growing competition between businesses.
Market growth has been assisted by multiple partnerships formed between banking institutions and technology developers. By deploying cloud-based platforms, community banks and credit unions are able to implement decision management solutions for automation of lending decisions. New market opportunities are likely to enter the market in the coming years, supported by new product launches by leading technology companies and increased spending on data and analytics.
Key Market Players
The major players in the market are :
- ACTICO GmbH,
- Experian Information Solutions, Inc.,
- International Business Machines Corporation,
- Oracle Corporation,
- SAS Institute Inc.,
- Fair Isaac Corporation,
- others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments, mergers, and acquisitions, among other latest developments of these market players.
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