Business Rules Management System Market worth $1.8 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Dec. 9, 2020 /PRNewswire/ -- According to the new market research 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", published by MarketsandMarkets™, the market 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.
Browse in-depth TOC on "Business Rules Management System Market"
192 – Tables
45 – Figures
210 – Pages
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.
Get Special Pricing on Bundle Reports: https://www.marketsandmarkets.com/RequestBundleReport.asp?id=210469074
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.
Get 10% Customization on this Research Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=210469074
Browse Adjacent Markets: Software and Services Market Research Reports & Consulting
Related Reports:
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
https://www.marketsandmarkets.com/Market-Reports/management-decision-market-21799742.html
Business Process Management Market by Component, Deployment Type, Organization Size, Business Function (Sales and Marketing, HRM, Procurement and SCM, and Customer Service Support), Industry, and Region - Global Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/business-process-management-market-157890056.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets' flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/business-rules-management-system-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/business-rules-management-system.asp
SOURCE MarketsandMarkets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article