All the businesses are focused on quality of decisions as these decisions directly influence the quality of business operations. With management Decision systems, the decisions add value to a business through data, regulations, and market dynamics evaluations. Thus, A surge in need for business agility and faster operational decisions is a major factor that drive the growth of the market during the forecast period. Moreover, rapid changes in government and industry regulations across countries propel the adoption of management decision software and its related services at a significant rate. This is attributed to the operational decision automation feature offered by management decision software that helps organizations to focus on decision modelling, execution, and managing operational decision automation as a complete decision-making methodology. However, a lack of availability of skilled professionals with sufficient knowledge limits the market growth to a certain extent. Furthermore, ongoing partnership & product launches between major companies anticipate the growth of the management Decision market in the coming years.
The management decision market is segmented into component, deployment model, function, organization size, industry vertical, and region. By component, it is bifurcated into software and services. By deployment model, it is divided into on-premise and cloud. By function, it is classified into credit risk management, customer experience management, compliance management & fraud detection, pricing optimization, and others. By organization size, it is categorized into small & medium sized enterprises and large enterprises. By industry vertical, it is segregated into BFSI, IT & telecom, retail & e-commerce, healthcare, manufacturing, energy & utilities, government, automotive, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the management decision market include Tibco Software, Fair Isaac Corporation, Salesforce.com, Inc., IBM Corporation, SAS Institute Inc., Oracle Corporation, Manthan Software Services Pvt. Ltd., Sapiens International, ACTICO GmbH., and Experian Information Solutions, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and others, which helps drive the growth of the global management decision market.
KEY BENEFITS FOR STAKEHOLDERS
- This study includes the management Decision market analysis, trends, and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities of the market.
- The management Decision market size is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the management Decision market.
KEY MARKET SEGMENTS
BY COMPONENT
- Software
- Services
BY DEPLOYMENT MODEL
- On-premise
- Cloud
BY FUNCTION
- Credit risk management
- Customer experience management
- Compliance Management & Fraud Detection
- Pricing optimization
- Others
BY ORGANIZATION SIZE
- Small and Medium Sized Enterprises
- Large Enterprise
BY INDUSTRY VERTICAL
- BFSI
- IT and Telecom
- Retail and E-commerce
- Healthcare
- Manufacturing
- Energy and utilities
- Government
- Automotive
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Russia
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS
- Tibco Software
- Fair Isaac Corporation
- Salesforce.com, Inc.
- IBM Corporation
- SAS Institute Inc.
- Oracle Corporation
- Manthan Software Services Pvt. Ltd.
- Sapiens International
- ACTICO GmbH.
- Experian Information Solutions, Inc.
Table of Contents
Executive Summary
According to the report titled, 'Management decision Market by Component, Deployment Model, Function, Organization Size, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2020-2027' the global management decision market was valued at $4,137.00 million in 2019, and is projected to reach $11,647.00 million by 2027, registering a CAGR of 13.7% from 2020 to 2027. Surge in need for business agility and faster operational decisions among various organizations majorly drive the growth of the management decision market. Moreover, rise in importance to adhere to government compliance among enterprises along with surge in requirement to accelerate return on investment (ROI) for organizations fuel the growth of the market.Also, there has been a rise in demand among enterprises to automate business decision-making process to increase productivity of their businesses in the region. This fuels the growth of the market. Further, management decision vendors are willingly investing in the region due to presence of numerous large enterprises, which is opportunistic for the market. Furthermore, number of factors such as technology enhancements, stable economy, optimized infrastructure costs, and others are expected to positively impact the management decision market growth.
Also, there has been a rise in demand among enterprises to automate business decision-making process to increase productivity of their businesses in the region. This fuels the growth of the market. Further, management decision vendors are willingly investing in the region due to presence of numerous large enterprises which is opportunistic for the market. Furthermore, number of factors such as technology enhancements, stable economy, optimized infrastructure costs, and others are expected to positively impact market growth.
Major players operating in the management decision market offer a wide variety of services such as innovation services & solutions, advisory services, implementation services, cloud services, support services, and others. As these services offer wide range of software scope, businesses incline toward services for its wide variety of solutions, which in turn is a major factor that helps drive the growth of the management decision services segment in the market
In 2019, the global management decision market share was dominated by the credit risk management segment, and is expected to maintain this trend during the forecast period. Credit risk management directly impacts the revenue management of an organization and has become an integral part of an organization. It assists banks, lending institutions, and other enterprises in making a critical decision related to credit risk by offering benefits, which includes enhanced business responsiveness, reduced compliance risks, and streamlined workflow processes. However, the customer experience management segment is expected to witness the highest growth in the upcoming years.
On the basis of organization size, the large enterprises segment led the market in 2019, and is expected to continue to remain dominant in the near future owing to surge in adoption of management decision software among large enterprises as they have customers across different regions. Also, taking decision related to businesses is a very important part for large enterprises as they account for high market shares, technical expertise, as well as effective business strategies. However, the small & medium sized enterprises segment is expected to witness highest growth rate, due to surge in adoption of cloud-based management decision software and increase in spending on analytics to take better decision.
On the basis of industry vertical, the BFSI sector dominated the global market in 2019, and is expected to continue this trend during the forecast period. Banks and financial institutions deal with credit risks and critical financial data due to which the adoption of management decision software is high among this industry. Also, the need to enhance the operational efficiencies among companies has increased due to continuous ongoing changes in the competitive environment. Hence, management decision software allows them to automate their business decision-making process to enhance the operational efficiencies of an organization. Moreover, rise in need to deal with daily recurring operation decisions is further expected to boost the demand for management decision software in this sector.
Key Findings of the Study:
By component, in 2019 the software segment dominated the management decision market size. However, the services segment is expected to exhibit significant growth during the forecast period.
By deployment model, the on-premise segment accounted for the highest revenue in 2019.
By function, the on-premise generated the highest revenue in 2019. However, the cloud segment is expected to witness highest growth rate in the near future.
By organization size, the large enterprises dominated the management decision market. However, the small & medium sized enterprises are expected to exhibit significant growth during the forecast period.
By industry vertical, the retail & consumer goods segment accounted for the highest revenue in 2019.
By region, Asia-Pacific is expected to witness significant growth in the upcoming years.
Some of the key management decision industry players profiled in the report include Tibco Software, Fair Isaac Corporation, Salesforce.com, Inc., IBM Corporation, SAS Institute Inc., Oracle Corporation, Manthan Software Services Pvt. Ltd., Sapiens International, ACTICO GmbH., and Experian Information Solutions, Inc. This study includes management decision market trends, management decision market analysis, and future estimations to determine the imminent investment pockets.
Companies Mentioned
- Tibco Software
- Fair Isaac Corporation
- Salesforce.com Inc.
- IBM Corporation
- SAS Institute Inc.
- Oracle Corporation
- Manthan Software Services Pvt. Ltd.
- Sapiens International
- ACTICO GmbH.
- Experian Information Solutions Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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