Decision Intelligence Market to Hit $36.34 Billion by 2030: Grand View Research, Inc.

News provided by

Aug 09, 2023, 06:00 ET

SAN FRANCISCO, Aug. 9, 2023 /PRNewswire/ -- The global decision intelligence market size is expected to reach USD 36.34 billion by 2030, growing at a CAGR of 15.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. As businesses increasingly adopt artificial intelligence (AI) and machine learning (ML) technologies to gain a competitive edge, decision intelligence is emerging to connect decision support, decision management, and complex systems applications. In today's data-driven landscape, organizations face the challenge of navigating through vast amounts of information. This results in decision intelligence emerging as the vital solution, bridging the gap between data and improved decision-making.

Key Industry Insights & Findings from the report:

The solutions segment dominated the market in 2022 and accounted for a revenue share of over 73%, owing to the increasing adoption of data-driven decision-making and the growing availability of big data
The on-premises segment led the market in 2022, accounting for over 55% share of the global revenue owing to its capabilities to provide more flexibility for customization and integration with existing systems
The large enterprise segment led the market in 2022, accounting for over 72% share of the global revenue owing to the increasing investments by large businesses in deploying next-gen technologies and decision intelligence solutions
The healthcare segment is predicted to foresee significant growth in the forecast years as decision intelligence helps the healthcare industry to address the challenges faced by providing insights into data, automating processes, and improving decision-making
North America dominated the market in 2022, accounting for over 45% share of the global revenue. The market is growing in the region as several established vendors offer solutions, and businesses have more experience with decision intelligence

Read full market research report, "Decision Intelligence Market Size, Share & Trends Analysis Report By Vertical (BFSI, Healthcare), By Component (Solutions, Services), By Deployment (Cloud, On-Premises), By Enterprise Size (Large, SMEs), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Decision Intelligence Market Growth & Trends

Industries, such as financial services, healthcare, and supply chain management, urgently need reliable decision-making capabilities. By harnessing the power of decision intelligence, these industries can fully leverage the potential of their data and effectively optimize the utilization of AI, empowering these industries to thrive. Despite the adverse effects of the COVID-19 pandemic on various industries, the market for decision intelligence has experienced a notable positive impact. Numerous companies and organizations were compelled to close their physical operations to halt the spread of the coronavirus. Consequently, many businesses transitioned to utilizing intelligent software solutions to monitor workflows and make informed decisions remotely and effectively.

Decision intelligence distinguishes itself from other analytical methodologies by its unique approach of commencing the process with a precise decision and the associated business problem it intends to resolve. Thus, decision intelligence actively seeks out pertinent data directly relevant to the decision and problem. This distinctive methodology has played a pivotal role in driving the market's rapid expansion during the pandemic, emphasizing the increasingly widespread recognition and adoption of decision intelligence within various industries. North America accounted for the largest market share in 2022.

The growth is attributed to this region's widespread adoption of AI and ML technologies. The U.S. emerged as the dominant country worldwide, significantly contributing to revenue generation within the decision intelligence industry. The retail and banking sectors, in particular, are experiencing a surge in demand for advanced decision-making capabilities, thus propelling the growth of the decision intelligence industry. The rising investment in research and development of AI and Internet of Things (IoT) technologies is also significantly driving the market expansion in the North American region.

Decision Intelligence Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 12.97 billion
Revenue forecast in 2030	USD 36.34 billion
Growth rate	CAGR of 15.9% from 2023 to 2030
Base year for estimation	2022
Historical data	2017 - 2021
Forecast period	2023 - 2030

Decision Intelligence Market Segmentation

Grand View Research has segmented the global decision intelligence market based on component, deployment, enterprise size, vertical, and region

Decision Intelligence Market - Component Outlook (Revenue, USD Billion, 2017 - 2030)

Solutions
Services

Decision Intelligence Market - Deployment Outlook (Revenue, USD Billion, 2017 - 2030)

Cloud
On-Premises

Decision Intelligence Market - Enterprise Size Outlook (Revenue, USD Billion, 2017 - 2030)

Small & Medium Enterprises
Large Enterprises

Decision Intelligence Market - Vertical Outlook (Revenue, USD Billion, 2017 - 2030)

BFSI
IT & Telecom
Retail & Ecommerce
Healthcare
Manufacturing
Government
Others

Decision Intelligence Market - Regional Outlook (Revenue, USD Billion, 2017 - 2030)

North America

U.S.
Canada

Europe

UK
Germany
France

Asia Pacific

China
Japan
India
South Korea
Australia

Latin America

Brazil
Mexico

Middle East & Africa

KSA
UAE
South Africa

List of Key Players in the Decision Intelligence Market

Board International
Domo, Inc.
Google LLC
H2O.ai.
International Business Machines Incorporation
Intel Corporation
Microsoft
Oracle
Provenir
Pyramid Analytics BV

Check out more related studies published by Grand View Research:

AI Chipset Market - The global artificial intelligence chipset market size is expected to reach USD 59.2 billion by 2025, according to a new report by Grand View Research, Inc. The artificial intelligence (AI) chipset market is anticipated to expand at a CAGR of 33.6% from 2019 to 2025. An artificial intelligence chipset is built on the concept of adding a dedicated component in an electronic device, to execute machine learning tasks. In addition, an increased amount of data has led to the need for high-speed processors and faster computing, which is addressed by incorporating artificial intelligence into the set of electronic components. For instance, Apple has implemented a neural engine in its A11 Bionic chip's GPU to speed-up the third-party applications. With the growing implementation of AI in smartphones and other smart devices, the growth in the market has been boosted.
AI in Construction Market - The global artificial intelligence (AI) in construction market size is expected to reach USD 3.3 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to witness a CAGR of 34.0% from 2019 to 2025. Artificial intelligence in building solutions is being adopted rapidly due to the increasing need for risk management and deployment of more safety measures at the job site. Specialized artificial intelligence solutions are trained on architecture images, which helps in predictive maintenance. These artificial intelligence solutions can review thousands of images and identify risk factors to provide insights into risk indicators at a scale that cannot be achieved by humans. Furthermore, artificial intelligence has become more predictive and can observe the activities taking place at job sites, based on which it can predict the results of these activities.
Edge Artificial Intelligence Chips Market - The global edge artificial intelligence chips market size is expected to reach USD 9.5 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 21.3% from 2020 to 2027. Semiconductor companies are experiencing high demand for their existing chips with hardware serving as a differentiator in AI. Also, these companies are developing workload-specific (training and inference) AI accelerators. For instance, Apple has implemented a neural engine in its A11 Bionic chip's processor to speed-up the third-party applications. The market is growing rapidly with the rising implementations of edge-based AI in smartphones and autonomous vehicles.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
Grand View Compass | Sector Reports
Follow Us: LinkedIn | Twitter