The report “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″, 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. The key factors that are expected to drive the growth of the market are the increasing need to manage regulatory and policy compliance and the growing need to improve process efficiency.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=210469074
Software segment to hold a larger market size during the forecast period
A BRMS enables defining, analyzing, executing, auditing, and maintaining a wide variety of business rules that are applied to complex decision logic within an organization. The software provides the ability to define relationships between different business rules and relate these business rules to various IT applications that need to be enforced with one or more of these business rules. Moreover, BRMS software and services are adopted for their major advantage, which is, the business rules are managed externally, away from the application code. This facilitates the business logic to be leveraged by multiple applications and changed independently from the governing applications.
Support and maintenance services segment to grow at the highest cagr during the forecast period
Support and maintenance services include the support related to the implementation and use of solutions, and are provided by BRMS vendors. Maintenance services facilitate upgrades to the existing systems and aid in solving product issues. Support services empower organizations to efficiently tackle service requests, such as end-user issues, technical issues, encryptions, and security issues.
Retail & consumer goods vertical to grow at the highest CAGR during the forecast period
The retail and consumer goods vertical is one of the fastest-growing verticals in the BRMS market, due to the rising consumer purchasing power. With the proliferation of online markets, retailers are adopting more innovative technologies, such as cloud computing, big data analytics, digital stores, and social networks. With the advent of online retailers and cloud technologies, the retail and consumer goods vertical has experienced major disruptions.
North America to account for the highest market share during the forecast period
North America is expected to dominate in the market, due to several factors, such as large investments in BRMS software, better receptiveness to the adoption of new and emerging technologies, and high penetration of the internet. The market has been steadily showing positive trends in the region, as several enterprises, including government agencies, are adopting BRMS software and services at various levels as a part of their strategy to sustain in the market and increase their productivity by improving the application performance.
The major players in the business rules management system market are IBM (US), FICO (US), PEGASYSTEMS (US), Oracle (US), Progress Software (US), 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.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
