Management Decision Market by Offering, Vertical (BFSI, Retail & Consumer Goods, Telecom, IT & ITeS, Healthcare & Lifesciences, Manufacturing, Government, Transportation & Logistics, Energy & Utilities), Application and Region - Global Forecast to 2028

Management Decision Market by Offering, Vertical (BFSI, Retail & Consumer Goods, Telecom, IT & ITeS, Healthcare & Lifesciences, Manufacturing, Government, Transportation & Logistics, Energy & Utilities), Application and Region - Global Forecast to 2028

MarketsandMarkets forecasts that the Management Decision market size is projected to grow from USD 6.2 billion in 2023 to USD 11.4 billion by 2028, at a CAGR of 13.0% during the forecast period. Rising need to improve the quality of decisions and achieve business agility with enhanced effectiveness. In every organization, decision-making has become increasingly intricate and multifaceted. It now encompasses broader considerations with far-reaching impacts across the entire enterprise. Using legacy systems hinders this development and thus requires transformations at the application, platform, and technology levels. Business decision management software assists enterprises in making important strategic, tactical, and operational decisions. This would provide organizations with a competitive market advantage, increase efficiency, and better Return on Investment (RoI) in the coming years.

“By Vertical, Manufacturing segment is expected to grow with the highest CAGR during the forecast period.”

Manufacturing enterprises are facing considerable cyber threats due to the increasing digital transformation in the vertical. Manufacturers are harnessing a new generation of machine-to-machine systems, mobile apps, and cloud-based services. This vertical deploys automation in work processes and integrates real-time systems with business applications to streamline the information flow. Manufacturing companies aim to deliver operational effectiveness and reduce IT equipment cost so that a cost-effective infrastructure can be delivered. The industry is expected to witness a demand for management decision software to improve its performance with minimum investments in IT infrastructure.

“By Offering, the software segment is expected to hold the largest market size during the forecast period.”

The report has considered management decision software as a standalone and integrated software platform or suite. Software used in management decision-making encompasses a variety of tools. Business Intelligence (BI) software offers data analysis and visualization, while analytics platforms provide insights from large datasets. Decision Support Systems (DSS) combine data analysis with models, aiding complex choices. The software enables enterprises to automate repeatable operational decisions, improve the quality of decisions, ensure the consistency of decisions, and rapidly adjust and improve decisions over time.

“Asia Pacific is expected to grow with the highest CAGR during the forecast period.”

Asia Pacific has a significant technology adoption rate and is expected to record the highest growth rate in the management decision market over the next few years. The rapid growth of the management decision market in the Asia Pacific region can be attributed to the massive growth in business deals and transactions, such as mergers and acquisitions, joint ventures, and fundraising, across all the industry verticals in the region. The rapid expansion of domestic enterprises and infrastructure development are some of the important factors expected to drive the growth of the management decision market in Asia Pacific.

Breakdown of primaries

The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:

By Company: Tier 1–20%, Tier 2–25%, and Tier 3–55%

By Designation: C-Level Executives–40%, Director Level–33%, and Others–27%

By Region: North America–32%, Europe–38%, APAC–18%, RoW–12%

The major players in the Management Decision market are 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). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, product enhancements, and acquisitions to expand their footprint in the Management Decision market.

Research Coverage

The report segments the global management decision market by component into two categories: software and services. By function, the management decision market is divided into three major categories: credit risk management, collection management, and customer experience management. By vertical, the management decision market has been classified into BFSI, IT and telecom, manufacturing, retail and consumer goods, government, healthcare and life sciences, energy and utilities, transportation and logistics, and other verticals (education, media, and entertainment). The market has been segmented by region into North America, Europe, APAC, MEA, and Latin America.

Key benefits of the report

The report would help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall management decision market and the subsegments. This report would help stakeholders understand the competitive landscape and gain insights to position their businesses better and plan suitable go-to-market strategies. The report would help stakeholders understand the market’s pulse and provide them with information on the key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (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, Reduced dependency on IT teams for writing business rules, Compelling need to manage regulatory and compliance standards, Increasing integration of AI to automate decision making process), restraints (Resistance of the middle management to adopt business decision management software, Companies' resistance on adopting modern technologies to reduce machine dependency, wrong information, and limited skills), opportunities (Rising trend of automation and intelligence decisioning, Increasing focus of companies on data–driven decision–making, Growing inclination of organizations towards decision–making with predictive analytics), and challenges (Lack of documentation on business rules for decision management, Lack of skilled workforce and poor management in creating user adoption process) influencing the growth of the Management Decision market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Management Decision market.

Market Development: Comprehensive information about lucrative markets – the report analyses the Management Decision market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Management Decision market.

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like 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).