Technological advancements and application of business rules management system (BRMS) in various end user industries such as BFSI and IT & telecom to drive global business rules management system (BRMS) market through 2024
According to TechSci Research report, “Global Business Rules Management System (BRMS) Market By Component, By Organization Size, By Deployment Mode, By Vertical, By Region, Competition, Forecast & Opportunities, 2024”, global business rules management system (BRMS) market is forecast to grow at a CAGR of 11.42% during the forecast period, on account of high demand for managing compliance and regulatory policies. Coupled with the growing need to improve the efficiency and reduce the dependency on IT teams. Moreover, increasing focus of companies to take data-driven decisions is anticipated to positively influence the market in coming years.
Browse 50 market data Tables and 113 Figures spread through 111 Pages and an in-depth TOC on “Global Business Rules Management System (BRMS) Market”
Business Rules Management System (BRMS) market, globally, can be segmented based on component, organization size, deployment mode, vertical and region. Based on the component, the market can be segmented into software and services. Software component is expected to witness fastest growth during the forecast period, as it offers external management of business rules. Moreover, integration & deployment is the leading service segment in the market. In terms of deployment mode, the market can be bifurcated into on-premise and cloud. Cloud segment garners the highest share, as this deployment segment offers large number of functionalities at an affordable cost.
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Oracle Corporation, International Business Machines Corporation (IBM), CA Technologies, Inc., Fair Isaac Corporation and Pegasystems Inc. are some of the leading players operating in global Business Rules Management System (BRMS) market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. In 2018, IBM and Red Hat updated their respective BRMS systems in order to offer improved decision modeling services.
“North America is expected to be the leading region in global business rules management system (BRMS) market through 2024, on the back of huge investments by economies, such as US and Canada in BRMS solutions coupled with the presence of leading players in the region such as Oracle Corporation and International Business Machines Corporation (IBM). Asia-Pacific business rules management system (BRMS) market is anticipated to register fastest growth during the forecast period, owing to high demand for reliable, secure and cost-effective BRMS software and services.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Business Rules Management System (BRMS) Market By Component, By Organization Size, By Deployment Mode, By Vertical, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global business rules management system (BRMS) market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global business rules management system (BRMS) market.
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