According to a research report "Decision Intelligence Market by Component (Solution, Services), Deployment Type (On Premise, Cloud), Organization Size, Application, Vertical (BFSI, Healthcare, Government and Public Sector) and Region - Global Forecast to 2027" published by MarketsandMarkets, the global Decision Intelligence market size is expected to grow from USD 14.2 billion in 2022 to USD 31.4 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 17.2% during the forecast period. Decision intelligence leverages artificial intelligence (AI) to gather, organize, and analyze the data collected from various business applications to deliver actionable insights and to assist effective decision making. The data generation is massively increasing across business functions and verticals. As a result, decision making is becoming more complex. Decision intelligence solutions are helping the stakeholders to take data-driven and informed decisions using AI and ML. Additionally, the decision intelligence solutions facilitate diagnostics, descriptive, and predictive analysis that helps the organizations to take optimal paths to solve business problems.
Decision intelligence solutions and services are being rapidly adopted by large enterprises, due to the ease and agility they offer. Large enterprises segment is expected to hold the largest market share over the forecast period due to their higher budgets and rapid digital transformation. However, the high initial costs and training costs associated with the decision intelligence is impacting the adoption from SMEs. As the benefits of decision intelligence are becoming more evident, more SMEs are expected to implement these solutions over the forecast period.
With the proliferation of industry 4.0, organizations across manufacturing and supply chain verticals are adopting more innovative technologies, such as cloud computing, edge computing, digital stores, big data analytics, industrial internet of things (IIoT), and social networks. With decision intelligence, organizations can leverage the massive volumes of data being generated from all business operations to take sound decisions. Moreover, due to the increasing security of decision intelligence using cybersecurity and private cloud, it is increasingly adopted for mission-critical and data-sensitive industry verticals, such as BFSI, healthcare, and government.
North America is a mature market in terms of decision intelligence solution adoption, owing to a large presence of enterprises with advanced IT infrastructure and the availability of technical expertise. Moreover, North America is home to multiple decision intelligence vendors, such as Aera Technology (US), AiCure (US), H2O.ai (US), Oracle (US), and SAS (US). These companies are targeting high revenue clients and are engaged in product innovation. Due to the high competition and high demand prevailing across the North America, the vendors are adopting growth strategies to increase the regional decision intelligence market share. Asia Pacific is expected to witness a high adoption rate for digital intelligence over the forecast period. Enterprises in this region are moving to cloud-based solutions for its cost-efficiency and agility. Further, the increasing business expansions by vendors across the region are expected to boost the decision intelligence market growth.
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’s flagship competitive intelligence and market research platform, "Knowledgestore" 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. Rohan
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
