Pune, India, January 30, 2019 -- /360iResearch/ -- The report "Global Business Rules Management Systems Market - Premium Insight, Industry Trends, FPNV Positioning Matrix, Competitive News Feed Analysis, Company Usability Profiles, Market Sizing & Forecasts to 2024 (Q4 2018 Update)", published by 360iResearch, states that the global market was valued at USD 812.57 million in 2017 and is projected to reach USD 1,692.57 million by 2024, growing at a CAGR of 11.05% from 2017 to 2024.
The major forces driving the growth of the business rules management systems market include the collaboration of business and it for process efficiency and decision making and increased need to manage regulatory and compliance policy. Moreover, increase adoption of service oriented architecture and reusable rules, updates, and versions are also some of the factors that are driving the market growth. However certain factors such as the high initial switching cost to the business rule management system may hinder the market growth. In the middle of difficulty lies opportunity such as the area of decision as a service (daas) to focus on data-driven decision making, and predictive model integration and support for production rule representation (prr), rule interchange format (rif), and semantics business vocabulary and rules (sbvr). The possible challenges for the market growth is threat of vendor lock-in. But key players in the market are overcoming the challenges with continual improvement and innovation.
Based on component, the global business rules management systems market is studied across Service, and Software. Based on industry, the global business rules management systems market is studied across Aerospace & Defense, Automotive & Transportation, Banking, Financial Services & Insurance, Building, Construction & Real Estate, Consumer Goods & Retail, Education, Energy & Utilities, Government & Public Sector, Healthcare & Life Sciences, Information Technology, Manufacturing, Media & Entertainment, Telecommunication, and Travel & Hospitality. Based on deployment, the global business rules management systems market is studied across On-Cloud, and On-Premises. Based on geography, the global business rules management systems market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.
The report features a competitive scenario of the business rules management systems market and provides inclusive analysis of key growth strategies adopted by major players. Key company profiled in the study are ACTICO, Agiloft, Business Rule Solutions TIBCO Software Inc., CA Technologies, Decisions LLC, Experian Information Solutions, FICO, IntellileapSignavio, International Business Machines Corporation, Newgen Software, Object Connections, OpenText, Oracle Corporation, Pegasystems Inc., SAS, Software AG, and Sparkling Logic.
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Miss. Shikha Sachan
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