DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
The management decision market is expected to grow from USD 3.09 Billion in 2017 to USD 6.18 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.9% during the forecast period, owing to the increase in need for business agility and faster operational decisions. In addition, the rapidly changing regulations across countries are expected to contribute to the growth of the market. Moreover, enterprises consider management decision as an important part of their decision-making processes to improve operational efficiency of the organizations.
Rapidly changing competitive scenarios have encouraged enterprises to adopt management decision solutions to improve the operational efficiencies. The Banking, Financial Services, and Insurance (BFSI) companies deal with critical credit management and need to effectively manage collection management and fraud detection management for its day to day financial operations. Increasing number of repeatable operation decisions daily is expected to drive the demand for management decision software in the BFSI vertical. These are some of the key aspects that have contributed to the large adoption of management decision solutions by the BFSI industry. The BFSI industry has been a major contributor, in terms of the revenue generated, in the management decision market.
The credit risk management segment is estimated to dominate the management decision market in 2017. Credit risk management is an important process as it directly impacts the revenue management of an organization. Management decision software assists lending institutions, banks, and other enterprises in making a critical decision related to credit risk by offering benefits, such as minimizing compliance risks, enhancing business responsiveness, and streamlining workflow processes.
North America is estimated to account for the largest market size and dominate the management decision market in 2017, while Europe is expected to reach the largest market size by 2022. North America has a high concentration of BFSI, telecom and IT, and healthcare and life sciences companies that largely contribute to the adoption of management decision solutions. However, the Asia Pacific (APAC) region is expected to provide high growth opportunities for the providers of management decision software. This is attributed to the increasing commercial investments by several companies in developing countries.
- Decision Management Solutions
- Sapiens International Corporation
- Sparkling Logic
- Tibco Software
For more information about this report visit https://www.researchandmarkets.com/research/2td6gh/management?w=4