Global Business Rules Management System Market to 2023: Increasing Focus of Companies on Data-Driven Decision Making & Rising Number of SMES Creating New Revenue Opportunities for Vendors

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Nov 19, 2018, 10:45 ET

DUBLIN, Nov. 19, 2018 /PRNewswire/ --

The "Business Rules Management System Market by Software, Service (Integration and Deployment, Training and Consulting, and Support and Maintenance), Organization Size, Deployment Type, Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global BRMS market is expected to grow from USD 0.84 Billion in 2018 to USD 1.41 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11% during the forecast period.

BRMS helps organizations in complying with various regulations, including capital requirements in banking or eligibility requirements for government benefits. It enables companies to capture policies and regulations, making it easier to enforce those rules during every transaction through automated processes.

However, the existing vendor services make it difficult for companies to switch to new vendors, due to high switching cost, changes to be made in implementation, and training employees to use these new systems. These factors might restrict the adoption of BRMS solutions.

The software segment is estimated to hold a larger market size during the forecast period

The BRMS solutions provide the ability to define relationships between different business rules and relate these business rules to various IT applications that need to be enforced with one or more of these business rules. Moreover, the BRMS solutions and services are adopted for their major advantage, which is, the business rules are managed externally, away from the application code.

The integration and deployment segment is estimated to hold the largest market size during the forecast period

Integration and deployment services provided by BRMS service providers offer cohesive services to end-users, including large enterprises and SMEs. These services help in efficiently implementing and integrating the BRMS software with the organization's existing IT infrastructure systems. System integration services also help organizations plan their integration layout as per their business requirement.

North America is estimated to have the largest market share in 2018, while Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period

North America is estimated to hold the largest market size in the global BRMS market in 2018. North America is the most matured region in the BRMS market, as most large enterprises are located in this region. On the other hand, the BRMS market in APAC is expected to witness exponential growth to become the fastest-growing region .

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Business Rules Management System Market
4.2 Business Rules Management System Market in North America, By Vertical and Country
4.3 Business Rules Management System Market: Major Countries

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Reduced Dependency on It Teams for Writing Rules
5.2.1.2 Increased Need to Manage Regulatory and Compliance Policy
5.2.1.3 Growing Need to Improve Process Efficiency
5.2.2 Restraints
5.2.2.1 Companies' Resistance in Adopting Modern Technologies
5.2.2.2 Profit-Driven Approach of Companies
5.2.3 Opportunities
5.2.3.1 Increasing Focus of Companies on Data-Driven Decision Making
5.2.3.2 Rising Number of SMES Creating New Revenue Opportunities for Vendors
5.2.4 Challenges
5.2.4.1 Lack of Documentation on Business Rules
5.2.4.2 Fear of Vendor Lock-In

6 Business Rules Management System Market, By Component
6.1 Introduction
6.2 Software
6.2.1 External Management of Business Rules is A Major Advantage of Adopting BRMS Software and Services
6.1 Services
6.1.1 BRMS Services are Extensively Used Among Enterprises to Maximize the Efficiency of the Business Processes

7 Business Rules Management System Market, By Service
7.1 Introduction
7.2 Integration and Deployment
7.2.1 System Integration Services Help Organizations Plan Their Integration Layouts as Per Their Business Requirements
7.3 Support and Maintenance
7.3.1 Maintenance Services Facilitate Upgrades to Existing Systems and Aid in Solving Product Issues
7.4 Training and Consulting
7.4.1 Consulting Services Provide Expert Assistance for Strategic Planning and Implementation of BRMS Software

8 Business Rules Management System Market, By Organization Size
8.1 Introduction
8.2 Small and Medium-Sized Enterprises
8.2.1 Immediate Responses, Quick Business Decisions, and Customer Satisfaction Help Small and Medium-Sized Enterprises in Expanding Their Business, Generating More Revenue, and Ensuring Desired Outcomes
8.3 Large Enterprises
8.3.1 BRMS Software Helps Large Enterprises in Effective Decision-Making

9 Business Rules Management System Market, By Deployment Type
9.1 Introduction
9.2 On-Premises
9.2.1 The On-Premises Deployment of BRMS Software Helps Organizations Manage Costs and Maintain Compliance
9.3 Cloud
9.3.1 Cloud-based BRMS Software offers Agility and Provides More Functionalities at an Affordable Cost

10 Business Rules Management System Market, By Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.2.1 BFSI Companies are Adopting Advanced Technologies and BRMS Software and Services to Increase Their Operational Efficiency
10.3 Government and Defense
10.3.1 BRMS Software and Services Help Government Agencies Put Policies Into Practice
10.4 Telecom and IT
10.4.1 The Adoption of BRMS Software has Helped in Significantly Expanding the Portfolios of Telecom and IT Enterprise Customers
10.5 Manufacturing
10.5.1 BRMS Software Helps Accelerate Decision-Making and Improve the Efficiency of Business Processes By Automating and Increasing the Agility in Organizations
10.6 Retail and Consumer Goods
10.6.1 BRMS Software Helps in Decision-Making By Acting as A Bridge to Connect Customer Transaction With Customer Insights and Action Data
10.7 Healthcare and Life Sciences
10.7.1 BRMS Software Offers Greater Control, Improved Flexibility, and the Ability to Rapidly Deploy Business Rules Across Processes, Information Systems, and Channels
10.8 Transportation and Logistics
10.8.1 BRMS Software Maximizes Efficiency, Speeds Up Delivery, and Ensures Smooth Functioning of Business Without Disruption
10.9 Energy and Utilities
10.9.1 BRMS Software Helps Meet the Compliance requirements in the Energy and Utilities Vertical
10.10 Others

11 Business Rules Management System Market, By Region
11.1 Introduction
11.2 North America
11.2.1 Adopting BRMS Software and Services Helps the Region Sustain in the Market and Increase Its Productivity By Improving Application Performance
11.2.1.1 United States
11.2.1.2 Canada
11.3 Europe
11.3.1 the Growing Number of Enterprise Applications and Increasing Complexities in Applications and Infrastructure are Expected to Increase the Adoption of BRMS Software in the European Market
11.3.1.1 United Kingdom
11.3.1.2 Germany
11.3.1.3 France
11.3.1.4 Rest of Europe
11.4 Asia Pacific
11.4.1 Enterprises Need for Services With Lower Capital and Operational Expenditure Expected to Increase the Adoption Rate of BRMS Software in the Region
11.4.1.1 Japan
11.4.1.2 Australia and New Zealand
11.4.1.3 China
11.4.1.4 Rest of Asia Pacific
11.5 Middle East and Africa
11.5.1 Lower Capex and Opex are the Major Drivers for the Adoption of BRMS Software and Services in This Region
11.5.1.1 Kingdom of Saudi Arabia
11.5.1.2 South Africa
11.5.1.3 United Arab Emirates
11.5.1.4 Rest of Middle East and Africa
11.6 Latin America
11.6.1 There is A Huge Potential for the Growth of BRMS Software and Service Providers in This Region, Owing to the Increasing Awareness of BRMS Software Benefits
11.6.1.1 Brazil
11.6.1.2 Mexico
11.6.1.3 Rest of Latin America

12 Competitive Landscape
12.1 Overview
12.2 Competitive Scenario
12.2.1 New Product Launches/Product Upgradations
12.2.2 Partnerships, Agreements, and Collaborations
12.2.3 Mergers and Acquisitions
12.2.4 Business Expansions

13 Company Profiles

ACTICO
Agiloft
Bosch
Business Rule Solutions
CA Technologies
Decision Management Solutions
Decisions LLC
Experian
FICO
Fujitsu
IBM
Inrule Technology
Intellileap
Newgen Software
Object Connections
OpenText
Oracle
Pegasystems
Progress Software
Red Hat
SAP
SAS
Signavio
Software AG
Sparkling Logic
TIBCO

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