Decision Intelligence Market By Component (Platform, Solutions, Services), By Deployment Mode (On-premise, Cloud), By Enterprise Size (Large Enterprise, Small and Medium-sized Enterprises (SMEs)), By Industry Vertical (Energy and Utilities, BFSI, IT and Telecom, Government, Healthcare, Manufacturing, Retail and Consumer Goods, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
Decision intelligence links data with choices and results to support, enhance, and automate business decisions. To enhance the way decisions are made in businesses, it combines techniques (such as decision mapping and decision theories) with technologies (such as automation and machine learning). Constantly assessing choice results and enhancing them through a feedback mechanism are both aspects of decision intelligence.
Big data technology advancements for practical business intelligence and the advent of ML and AL that enables a variety of sectors to fully utilize decision intelligence are driving the growth of the market. In addition, the cost-efficient benefits of decision intelligence solutions in manufacturing are fueling the growth of decision intelligence market. However, the overwhelming information and reliance on decision-support systems and concerns regarding data security and privacy limit the growth of this market. Conversely, rapid advancements in big data technology that lead to actionable business information is anticipated to provide numerous opportunities for the expansion of the decision intelligence market during the forecast period.
Depending on the component, the platform segment dominated the decision intelligence market share in 2021 and is expected to continue this dominance during the forecast period, owing to surge in data-driven decision-making with the aid of a decision intelligence platform. The platform democratizes the potential of data science and ML algorithms to empower both technical and non-technical consumers to reach previously unattainable insights. However, the solutions segment is expected to witness the highest growth in the upcoming years, owing to analytics challenge by combining various decision-making methodologies with AI, ML, contextual intelligence, and automation to produce actionable and unique business recommendations that can be instantly implemented to produce business value.
Region wise, the decision intelligence market was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to advanced technologies such as AI, ML, intelligent apps, and natural language queries to transform data dashboards and business analytics into more comprehensive decision-support platforms. However, Asia-Pacific is expected to witness the highest growth in the upcoming years, owing to data scientists and engineers, as well as the potential of vast automation and AI/ ML projects in the region, enterprises across Asia-Pacific leverage engineered decision making for substantial and consistent positive decision making.
The global decision intelligence market is segmented on the basis of component, deployment mode, enterprise size, industry vertical, and region. On the basis of component, it is segregated into platform, solutions, and services. On the basis of deployment mode, it is segregated into cloud and on-premises. On the basis of enterprise size, it is segregated into large enterprises and small and medium-sized enterprises (SMEs). On the basis of industry vertical, it is segregated into energy and utilities, BFSI, IT and telecom, government, healthcare, manufacturing, retail and consumer goods, and others. On the basis of region, it is segregated into North America, Europe, Asia-Pacific, and LAMEA.
Market players operating in the decision intelligence market include Google LLC, Oracle Corporation, Microsoft Corporation, Board International, Metaphacts GmbH, H2O.ai, International Business Machines Corporation, Intel Corporation, Diwo.ai, and Clarifai, Inc.. Furthermore, it highlights the strategies of the key players to improve the market share and sustain competition.
Top impacting factors
Big data technology advancements for practical business intelligence
Decision intelligence is one of the rapidly expanding fields in data science and artificial intelligence. Many issues related to decision intelligence-related software have been resolved and incorporated that are used on the Internet, such as dialectal analysis. To build reliable systems that can handle big data at enormous scales, perform text analysis and subjectivity analysis, and support management and business decision-making, big data analytics and decision intelligence can be merged.
The advent of ML and AL is enabling a variety of sectors to fully utilize decision intelligence
Decision intelligence is developing as a response to the urgent need to digitize and utilize cutting-edge technologies like Artificial Intelligence (AI) and Machine Learning (ML). Al and ML both assist decision intelligence by refining anticipating and predictive ability. Moreover, decision intelligence is used by organizations to aid imbrute and intensify decision-making processes beyond an extensive range of application scenarios and industries. Also, decision intelligence fills the gap between data and better decision-making for organizations struggling to survive in a sea of data. Furthermore, industries like financial services, healthcare, and supply chain may benefit from decision intelligence by getting the most out of the data and realizing the full promise of Al. Currently, these sectors have a critical need for precise decision-making. In addition, by examining the data gathered from various sources, providers have been able to better understand customer views due to the advent and adoption of ML and AL. Businesses now prioritize providing a consistent user experience across all platforms and delivering offers in real-time by examining consumer purchasing trends.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the decision intelligence market analysis from 2021 to 2031 to identify the prevailing decision intelligence market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the decision intelligence market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global decision intelligence market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy ComponentPlatform
Solutions
Services
By Deployment ModeOn-premise
Cloud
By Enterprise SizeLarge Enterprise
Small and Medium-sized Enterprises (SMEs)
By Industry VerticalEnergy and Utilities
BFSI
IT and Telecom
Government
Healthcare
Manufacturing
Retail and Consumer Goods
Others
By RegionNorth America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Oracle Corporation
Microsoft Corporation
Board International
Metaphacts GmbH
H2O.ai
International Business Machines Corporation
Intel Corporation
Diwo.ai
Clarifai, Inc.
Google LLC
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