North America to Dominate Global Business Rules Management System Market till 2024
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"
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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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