Business Rules Management System Market

New product launches and partnerships/collaborations are some of the significant strategies adopted by the major players to grow further in the Business Rules Management System market

The increasing need to manage regulatory and policy compliances is expected to spur the demand for Business Rules Management System (BRMS) offerings across the globe. The global Business Rules Management System (BRMS) market is expected to grow from USD  0.84 Billion in 2018 to USD 1.41 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11% during the forecast period.

The BRMS market includes major vendors, such as IBM (US), FICO (US), Pegasystems (US), Oracle (US), CA Technologies (US), Red Hat (US), Object Connections (Australia), Sparkling Logic (US), OpenText (Canada), Software AG (Germany), SAS (US), ACTICO (Germany), Newgen Software (India), Fujitsu (Japan), Intellileap (India), Signavio (Germany), Agiloft (US), Decisions LLC (US), Experian Information Solutions (Ireland), Business Rule Solutions (US), TIBCO (US), SAP (Germany), Bosch (Germany), InRule (US), Progress Software (US) and Decision Management Solutions (US). These players have embraced different growth strategies to expand their global presence and increase their market shares. New product launches and partnerships/collaborations are some of the significant strategies adopted by the major players to grow further in the BRMS market.

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IBM is one of the largest technology and consulting providers in the world. Its growth strategy focuses on expanding its offerings in 3 market categories, namely, business analytics, cloud, and smarter planet. It also aims at increasing its regional presence in new regions to cater to the local customers’ demands. IBM has been one of the top players in the BRMS market, catering to various industries. This aims to create a competitive advantage for the company in its cloud technologies, business analytics, and BRMS offerings. For instance, in October 2018, IBM announced that Operational Decision Manager v8.10 (ODM – IBM’s BRMS) will be available in December and will support decision modeling.

FICO is a global provider of various products, solutions, and services to its commercial clientele, and helps them automate and improve their business decisions, resulting in enhanced business performance. In the BRMS market, FICO operates through its flagship product, FICO Blaze Advisor, which provides companies with a scalable solution that delivers actionable insights for smarter business decisions, regardless of the business challenges. The flagship product offers an architectural framework for building decision management applications and state-of-the-art tools for deploying and maintaining decision services. FICO’s products also help increase customer value and reduce frauds, credit losses, and operating expenses. FICO also focuses on inorganic growth strategies. For instance, in March 2018, FICO partnered with Basisbank; according to which, FICO Blaze Advisor, a decision rules management system, would enable Basisbank’s risk analysts to quickly make changes to credit strategies for unsecured consumer loans and point-of-sale financing, to increase the profitability and reduce the risk of loans going unpaid.

Related Reports:

Business Rules Management System Market by Software, Service (Integration and Deployment, Training and Consulting, and Support and Maintenance), Organization Size, Deployment Type, Vertical, and Region - Global Forecast to 2023

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Report Code
TC 6741
RI Published ON
11/6/2018
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