Management Decision Market Growing at a CAGR 13.5%| Key Player Fico, Oracle, Pegasystems, Tibco Software, Experian

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Management Decision Market Growing at a CAGR 13.5%| Key Player Fico, Oracle, Pegasystems, Tibco Software, Experian

December 20
09:38 2021
Management Decision Market Growing at a CAGR 13.5%| Key Player Fico, Oracle, Pegasystems, Tibco Software, Experian
BM (US), FICO (US), SAS (US), Oracle (US), Pegasystems (US), TIBCO Software (US), Sapiens International Corporation (Israel), Experian (Ireland), Equifax (US), Actico (Germany), Parmenides (Germany), Decision Management Solutions (US), OpenRules (US), Sparkling Logic (US), Scorto (Netherland), RapidGen (UK), Progress (US), InRule (US), CRIF (Italy)
Management Decision Market by Software, Service, Deployment Type, Function (Credit Risk Management, Collection Management, Customer Experience Management), Organization Size, Industry, and Region – Global Forecast to 2026

The global management decision market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 13.5% during the forecast period, to reach USD 9.0 billion by 2026 from USD 4.8 billion in 2021. Key factors that are expected to drive the growth of the market are the rising need to improve the quality of decisions and achieve business agility with enhanced effectiveness, growing need for faster operational decisions and improve process efficiency, and compelling need to manage regulatory and compliance standards. These factors are driving the demand for management decision.

Services segment to hold a larger market size during the forecast period

The services segment for management decision market is expected to grow at a higher CAGR due to the need of deployment and integration, support and maintenance, and consulting services for ensuring smooth functioning of business decision management software solutions. These services help in enhancing business agility with improved and intelligent decision-making capabilities and support. The services ensure compliance standards by providing explainable decision tree-based strategies that better meet the organizations goals and constraints, built using powerful and interpretable optimization models and frameworks. Enterprises need active support from skilled professionals to minimize their management decision software downtime during the pre-and post-installation of solutions. These services provide the support needed to uphold the efficiency of business processes, increase enterprise growth, and reduce unwanted IT expenses.

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SMEs segment to grow at the highest CAGR during the forecast period

Enterprises with less than 1,000 employees are defined as SMEs. These enterprises face greater challenges of a limited budget than large enterprises and require better methods to resolve complexities for improving the cost optimization of their business processes. However, the SMEs segment is expected to grow at a higher CAGR during the forecast period. Due to the limited budget, SMEs mostly prefer cloud-based solutions over on-premises solutions, and this adoption trend is expected to accelerate in the years to come, enabling the cloud deployment type to have a considerable market size during the forecast period. Moreover, SMEs use management decision software for enhanced decision making, which provides enhanced insights from the business data repository leading to more relevant and personalized business decision-making in near real-time with reduced time and cost. These factors are also expected to encourage more SMEs to adopt management decision software and services at a rapid pace. This segment has a huge potential and will continue to flourish in the management decision market in the coming years.

The management decision market comprises major providers, such as IBM (US), FICO (US), SAS (US), Oracle (US), Pegasystems (US), TIBCO Software (US), Sapiens International Corporation (Israel), Experian (Ireland), Equifax (US), Actico (Germany), Parmenides (Germany), Decision Management Solutions (US), OpenRules (US), Sparkling Logic (US), Scorto (Netherland), RapidGen (UK), Progress (US), InRule (US), CRIF (Italy), Decisions (US), Enova Decisions (US), FlexRule (Australia), Rulex (US), Seon (UK), and Decisimo (UK). The study includes an in-depth competitive analysis of key players in the management decision market with their company profiles, recent developments, COVID-19 developments, and key market strategies.

The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and enhancements, partnerships, mergers and acquisitions, have been the most dominating strategies adopted by the major players from 2019 to 2021, which helped them strengthen their offerings and broaden their customer base.

FICO operates in more than 100 countries, helping client organizations in making better decisions and attaining a higher level of growth, profit, and customer satisfaction. The company operates through three business segments, namely, applications, scores, and decision management software. FICO provides analytics software and tools across multiple industries to manage risk, fight fraud, build more profitable customer relationships, optimize operations, and meet strict government regulations. FICO solutions leverage open-source standards and cloud computing to maximize flexibility, speed deployment and reduce costs. The company also helps millions of people manage their personal credit health. The company has pioneered the development and application of critical technologies behind decision management. These include predictive analytics, business rules management and optimization. FICO use these technologies to help businesses improve the precision, consistency, and agility of their complex, high–volume decisions.

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SAS is a business analytics and business intelligence software, solutions, and services provider. It offers SAS analytics solutions for customer insights, marketing optimization, fraud detection, anti-money laundering, risk management, and other analytics tools for each business role via desktop and mobile devices. The company also provides SAS customer intelligence solutions for marketing optimization and adaptive customer experience applications. SAS majorly focuses on providing cost-efficient, reliable, and highly scalable analytical solutions to its commercial customers.

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