Ongoing partnership & product launches and rise in expenditure on analytics is expected to pave the way for new opportunities in the future. 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.
Key industry players such as Fair Isaac Corporation, Salesforce.com, Inc., ACTICO GmbH., IBM Corporation, SAS Institute Inc., Oracle Corporation, Manthan Software Services Pvt. Ltd., Tibco Software, Sapiens International, and Experian Information Solutions, Inc.
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 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 CAGR of 15.4% from 2020 to 2027.
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.
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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.
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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