Business Rules Management System Market

IBM (US) and FICO (US) are Leading Players in the Business Rules Management System Market

The global business rules management system market size is expected to grow from USD 1.0 billion in 2020 to USD 1.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 11.8% during the forecast period. Reduced dependency on IT teams for writing business rules is a major driver for the growth of the market during the forecast period.

The business rules management system market comprises major providers, such as IBM (US), FICO (US), PEGASYSTEMS (US), Oracle (US), Progress Software (US),s SAP (Germany), Broadcom (US), ACTICO (Germany), SAS (US), InRule Technology (US), Software AG (Germany), OpenText (Canada), Newgen Software (India), Fujitsu (Japan), Experian (Ireland), Sparkling Logic (US), Business Rule Solutions (US), Decisions LLC (US), TIBCO (US), Intellileap (India), Agiloft (US), Signavio (Germany), Decision Management Solutions (US), CNSI (US), and Decisions on Demand (US). The study includes an in-depth competitive analysis of key players in the business rules management system market with their company profiles, recent developments, and key market strategies.

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The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and enhancements; and geographic expansion, partnerships, and agreements, have been the most dominating strategies adopted by the major players from 2016 to 2020, which helped them strengthen their offerings and broaden their customer base.

In the BRMS market, IBM offers IBM Operational Decision Manager (ODM) as a part of IBM automation platform for digital business to help organizations document, implement, change, and govern the repeatable decisions that control business operations. Furthermore, the company has a significant presence in more than 175 countries and mainly caters to the regions of India, China, and Southeast Asia; Eastern Europe; MEA; and Latin America. IBM has a wide customer base in various industries. These industries include automotive, aerospace and defense, banking, consumer products, financial markets, healthcare, insurance, media and entertainment, oil and gas, education, electronics, energy and utilities, petroleum, and travel and transportation.

FICO was founded in 1956 and is headquartered in California, US. The company has an exhaustive product portfolio, including solutions for predictive analysis, decision management, fraud and security, debt management, marketing and customer engagement, collection and recovery management, and communication services. FICO operates through 3 business segments, namely, Applications, Scores, and Decision Management Software. In the BRMS market, FICO offers the rules authoring solution, Blaze Advisor Decision Rules Management System, which provides rule authoring, testing, deployment, and management methods for building decision assets and operationalizing analytics for driving more accurate decisions.

Related Reports:

Business Rules Management System Market by Component (Software and Services), Organization Size (Large Enterprises and SMEs), Deployment Type, Vertical (BFSI, Government and Defense, and Telecom and IT), and Region - Global Forecast to 2025

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Report Code
TC 6741
RI Published ON
12/8/2020
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