Management Decision Market Expected to Reach $11.64 Billion by 2027

According to a recent report published by Allied Market Research, titled, “Management decision Market by Component, Deployment Model, Function, Organization Size, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2020-2027,” The global management decision market was valued at $4,137.00 million in 2019, and is projected to reach $11,647.00 million by 2027, registering a CAGR of 13.7% from 2020 to 2027. Surge in need for business agility and faster operational decisions among various organizations majorly drive the growth of the management decision market. Moreover, rise in importance to adhere to government compliance among enterprises along with surge in requirement to accelerate return on investment (ROI) for organizations fuel the growth of the market. 

Also, there has been a rise in demand among enterprises to automate business decision-making process to increase productivity of their businesses in the region. This fuels the growth of the market. Further, management decision vendors are willingly investing in the region due to presence of numerous large enterprises, which is opportunistic for the market. Furthermore, number of factors such as technology enhancements, stable economy, optimized infrastructure costs, and others are expected to positively impact the management decision market growth.

Also, there has been a rise in demand among enterprises to automate business decision-making process to increase productivity of their businesses in the region. This fuels the growth of the market. Further, management decision vendors are willingly investing in the region due to presence of numerous large enterprises which is opportunistic for the market. Furthermore, number of factors such as technology enhancements, stable economy, optimized infrastructure costs, and others are expected to positively impact the market growth.

Major players operating in the management decision market offer a wide variety of services such as innovation services & solutions, advisory services, implementation services, cloud services, support services, and others. As these services offer wide range of software scope, businesses incline toward services for its wide variety of solutions, which in turn is a major factor that helps drive the growth of the management decision services segment in the market

In 2019, the global management decision market share was dominated by the credit risk management segment, and is expected to maintain this trend during the forecast period. Credit risk management directly impacts the revenue management of an organization and has become an integral part of an organization. It assists banks, lending institutions, and other enterprises in making a critical decision related to credit risk by offering benefits, which includes enhanced business responsiveness, reduced compliance risks, and streamlined workflow processes. However, the customer experience management segment is expected to witness the highest growth in the upcoming years.

On the basis of organization size, the large enterprises segment led the market in 2019, and is expected to continue to remain dominant in the near future owing to surge in adoption of management decision software among large enterprises as they have customers across different regions. Also, taking decision related to businesses is a very important part for large enterprises as they account for high market shares, technical expertise, as well as effective business strategies. However, the small & medium sized enterprises segment is expected to witness highest growth rate, due to surge in adoption of cloud-based management decision software and increase in spending on analytics to take better decision.

On the basis of industry vertical, the BFSI sector dominated the global market in 2019, and is expected to continue this trend during the forecast period. Banks and financial institutions deal with credit risks and critical financial data due to which the adoption of management decision software is high among this industry. Also, the need to enhance the operational efficiencies among companies has increased due to continuous ongoing changes in the competitive environment. Hence, management decision software allows them to automate their business decision-making process to enhance the operational efficiencies of an organization. Moreover, rise in need to deal with daily recurring operation decisions is further expected to boost the demand for management decision software in this sector. 

Key Findings Of The Study

• By component, in 2019 the software segment dominated the management decision market size. However, the services segment is expected to exhibit significant growth during the forecast period.

• By deployment model, the on-premise segment accounted for the highest revenue in 2019.

• By function, the on-premise generated the highest revenue in 2019. However, the cloud segment is expected to witness highest growth rate in the near future.

• By organization size, the large enterprises dominated the management decision market. However, the small & medium sized enterprises are expected to exhibit significant growth during the forecast period.

• By industry vertical, the retail & consumer goods segment accounted for the highest revenue in 2019.

• By region, Asia-Pacific is expected to witness significant growth in the upcoming years. 

Some of the key management decision industry players profiled in the report include Tibco Software, Fair Isaac Corporation, Salesforce.com, Inc., IBM Corporation, SAS Institute Inc., Oracle Corporation, Manthan Software Services Pvt. Ltd., Sapiens International, ACTICO GmbH., and Experian Information Solutions, Inc. This study includes management decision market trends, management decision market analysis, and future estimations to determine the imminent investment pockets.