Management Decision Market: Global Industry Analysis and Forecast (2023-2029)

Management Decision Market size was valued at US$ 6.83 Bn. in 2022, Software Component is the dominating segment in the Management Decision Market.
Management Decision Market Overview:
Decision management is also known as enterprise decision management (EDM) or business decision management (BDM) involves all aspects of designing, controlling, building, and managing the automated decision-making systems used by the organisation to manage its interactions with consumers, workforces, and suppliers. Management decision evaluative software helps an organisation to manage and analyse huge data, deliver decisive results, and solve critical problems.To know about the Research Methodology :- Request Free Sample Report
Management Decision Market Dynamics:
Artificial Intelligence (AI) is being incorporated in several management decision solutions, which influence domain knowledge and human expertise to provide data-driven insights by implementing decision management with business rules and regulations, physical models along machine learning models. Management Decision supports incremental revenue and profit along with increased shareholder value. These factors fuel the Management Decision Market growth across the globe.

The Decision Management market is showing northward direction growth, thanks to the growing need for faster operational decisions and business agility in organizations. Organizations across the globe are adopting several marketing strategies to manage enormous competition in the market. For instance, in April 2021, Fair Isaac Corporation (FICO) released the newest version of its Decision Management Platform with improved open Application Programming Interfaces, which allow other consumers and software vendors to connect it to other enterprise systems like ERP or CRM.

The Management Decision applications implementation cost is very high, and lack of skilled workers are the major factors that hamper the growth of the global management decision market. Besides, increasing expenditure on analytics is expected to offer substantial opportunities for the market during the forecast period.
Management Decision Market Segment Analysis:
Based on the Component, the Management Decision Market is segmented into Software, and Services. The Software segment held the largest market share accounted for 61% in 2022. Increased implementation of decision-making software in the organizations, is helping in banking, system integration, financial services, and insurance for business process systems. The management decision software, empowers organisations to exchange relevant ideas for the betterment of business, drives new business opportunities and growth of organisations. The Service segment is expected to witness significant growth at a CAGR of 9.83% during the forecast period. Growing demand for training & consulting services in organisations by considering the requirement of low investment to improve decision management capabilities drives the management decision growth for this segment.

Based on the Organisation Size, the market is segmented into SMEs and Large Enterprises. The SMEs segment held the largest market share accounted for 53% in 2022. The SMEs sector organisations are growing, as increasing demand for lower costs in the management process, enhanced employee engagement and productivity, data-driven insights for organizational performance, and the future scalability potential of small and medium-sized enterprises (SMEs). SMEs prefer cloud-based solutions over on-premises solutions, and this adoption trend is expected to accelerate during the forecast period, enabling the cloud deployment type to have a significant market growth during the forecast period.

Based on the Deployment, the Management Decision Market is segmented into Cloud and On-premise. The On-premise Deployment segment held the largest market share accounted for 59% in 2022, and is expected to grow at a CAGR of 12.41% during the forecast period. Growing adoption of on-premise management decision software among the heavily regulated industries across the globe fuels the management decision market growth for this segment.

The Cloud Deployment segment is expected to register rapid growth at a CAGR of 13% during the forecast period. The increasing size of R&D data and the growing adoption of cloud-based solutions by organisations are making it more essential for management decision providers to deploy the software in the cloud.
Regional Insights:
North America region held the largest market share accounting for 36.62% in 2022. The fastest growth in this region is attributed to the growing adoption of management decision Software and services by various end-users such as retail, IT, BFSI, and other industries. The presence of dominant regional market key players, such as FICO, SAS, TIBCO, and Oracle, along with the adoption of technological advancements by organisations, fuels the product demand for the North America region.

Europe region is expected to witness significant growth at a CAGR of 13.66% during the forecast period. Increased industrialization, technological developments, and rising demand for management decision software and services are expected to create numerous opportunities for market growth in the Europe region.

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 Management Decision Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 6.83 Bn.


Forecast Period 2023 to 2029 CAGR:
15.4%
Market Size in 2029:
US $ 18.61 Bn.


 Segments Covered:
by Component
Software
Services


by Deployment
Cloud
On-premise


by Organisation Size
SMEs
Large Enterprises


by End-User
Aerospace and Defense
BFSI
Healthcare and Pharmaceutical
Government
Retail and E-commerce
IT and Telecommunications
Others



Management Decision Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Key Players:
1. IBM
2. FICO
3. SAS
4. Oracle
5. Pega systems
6. Tibco Software
7. Sapiens International Corporation Experian
8. Equifax
9. Actico
10. Parmenides
11. Sparkling Logic
12. Decision Management Solutions
13. Open Rules
14. TIBCO
15. Experian
16. Fair Isaac Corporation
17. Salesforce.com, Inc.
18. Manthan Software Services Pvt. Ltd.
Frequently Asked Questions:
1] What segments are covered in the Management Decision Market report?
Ans. The segments covered in the Management Decision Market report are based on Component, Deployment, Organisation Size, and End-User.

2] Which region is expected to hold the highest share in the Management Decision Market?
Ans. The North America region is expected to hold the highest share in the Management Decision Market.

3] What is the market size of the Management Decision Market by 2029?
Ans. The market size of the Management Decision Market by 2029 is US $ 18.61 Bn.

4] What is the forecast period for the Management Decision Market?
Ans. The Forecast period for the Management Decision Market is 2023-2029.

5] What was the market size of the Management Decision Market in 2022?
Ans. The market size of the Management Decision Market in 2022 was US $ 6.83 Bn