Management Decision Market by Software, Service, Deployment Type, Function (Credit Risk Management, Collection Management, Customer Experience Management), Organization Size, Industry, And Region - Global Forecast to 2022
The Management decision market is projected to grow at a CAGR of 14.9% during the forecast period
The Management decision market size is expected to grow from USD 3.09 billion in 2017 to USD 6.18 billion by 2022, at a CAGR of 14.9% during the forecast period. The growth in the need for faster operational decisions and business agility, adherence to the increasing government compliance, and acceleration of return on investment for organizations are expected to drive the growth of Management decision market. The major factor that restricts the market growth is the resistance of middle management to adopt Management decision software.
The credit risk management function is expected to account for the major market size during the forecast period
The credit risk management function is estimated to dominate the Management decision market in 2017. These functions have been in high demand in the highly regulated industry, such as BFSI and retail and consumer goods, where the companies use Management decision to optimize and automate the operational and tactical decision-making process. The credit risk management helps companies minimize compliance risk, improve business operations, and streamline workflow processes.
The small and medium-sized enterprises segment is expected to grow at a higher CAGR during the forecast period
The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period. The increased competitive market scenario has encouraged SMEs to invest in Management decision software to make effective decisions for their business growth due to dearth of an in-house resource in SMEs. As opposed to the large enterprises, SMEs face resource crunch and require methods to solve the complexities for better cost optimization of their assets and requirements. Cloud-based Management decision solutions enable SMEs to streamline business operational decision-making process and enhance business productivity. Owing to the limited budget, SMEs prefer cloud-based solutions over on-premises solutions, and this adoption trend is expected to accelerate in the forthcoming years, enabling the cloud deployment type to have a considerable market size during the forecast period.
Asia Pacific is expected to have a high growth potential during the forecast period
North America is estimated to account for the largest market share in 2017, while APAC is expected to grow at the highest CAGR. APAC is expected to be a lucrative market for Management decision during the forecast period, considering the untapped opportunities and increasing commercial investment in different industry in the region. Multinational companies are expected to emphasize on exploring the APAC market by entering the region through partnerships with local companies, channel partners, and technology partners. This in turn, is expected to provide growth opportunities for Management decision during the forecast period.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people. The break-up of profiles of primary participants is given below:
• By Company Type: Tier 1 – 21%, Tier 2 – 42%, and Tier 3 – 37%
• By Designation: C-level – 71%, D-level – 18%, and Others – 11%
• By Region: North America – 65%, Europe – 19%, APAC – 11%, and RoW – 5%
The Management decision market comprises major companies, such as FICO (US), SAS (US), TIBCO (US), Oracle (US), IBM (US), Sapiens (Israel), Experian (Ireland), ACTICO (Germany), Pegasystems (US), Equifax (US), Parmenides (Germany), Decision Management Solutions (US), and Sparkling Logic (US).
The Management decision market has been segmented by component, function, deployment type, organization size, industry, and region. The report is expected to help market leaders/new entrants in this market in the following ways:
The report segments the Management decision market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments. The market numbers are further split across different industry and regions. The Management decision market is segmented into various functions where the Management decision software are applied for better business operations in enterprises. Moreover, the report splits the market with on-premises deployment type and cloud deployment type adoption.
Reasons to Buy the Report
From an insight perspective, this research report focuses on various levels of analysis – market share analysis of the top players and company profiles, which together comprise and discuss basic views on the competitive landscape; emerging and high-growth segments of the Management decision market; and high-growth regions and their respective drivers, restraints, challenges, and opportunities.
The report is expected to enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn could help the firms in garnering a greater market share.