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. An increasing online consumer base with the growing adoption of smartphones will fuel the demand for management decisions. The compelling need to manage regulatory and compliance standards will increase the demand for management decision software and services. Decision management software helps organizations meet government agencies' standards, rules, and regulations. Organizations must comply with labor laws, file financial reports, and maintain regulatory compliance, among other business functions.
Various globally established players, such as IBM (US), FICO (US), SAS (US), Oracle (US), Pegasystems (US), TIBCO Software (US), Sapiens International Corporation (Israel), are dominating the management decision market. To increase their market share in the management decision market, these competitors have used a variety of growth methods, including partnerships, agreements, collaborations, new product releases, product enhancements, and acquisitions.
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IBM offers IBM Cloud Pak for Business Automation and IBM Operational Decision Manager (ODM) in the management decision market. IBM ODM combines decision-making and change detection tools to provide a business rule management system that is easy to evolve, trace, audit, and test. In November 2022, IBM launched IBM Business Analytics Enterprise, a software solution that helps enterprises overcome data and analytics silos. The suite offers business intelligence, planning, budgeting, reporting, forecasting, and dashboard capabilities, enabling users to make data-driven decisions and navigate disruptions effectively. It provides a comprehensive view of data sources across the organization, facilitating informed decision-making and enhancing overall business performance.
SAS is a business analytics and business intelligence software, solutions, and services provider. The company offers SAS Decision Manager, SAS Intelligent Decisioning, and SAS Real-Time Decision Manager in the management decision market. In February 2023, SAS Decision Manager 5.2, integrated with SAS Viya 3.4, introduced several new features and enhancements to enhance decision-making capabilities. Users can now utilize data grid variables within rules, providing greater flexibility in decision logic. Custom DS2 code files can be added and edited directly in decisions, enabling users to leverage custom code. The integration of analytic store models allows users to include them in decisions and publish them to various platforms like SAS Cloud Analytic Services, Apache Hadoop, SAS Micro Analytic Service, and Teradata.
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
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