Dublin, April 09, 2024 (GLOBE NEWSWIRE) -- The "Global Decision Intelligence Market by Offering (Platforms, Solutions (Integrated & Standalone), Services), Type (Decision Automation, Decision Augmentation, Decision Support System (DSS)), Business Function, Vertical and Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global decision intelligence market is valued at USD 13.3 billion in 2024 and is estimated to reach USD 50.1 billion in 2030, registering a CAGR of 24.7%
The market study covers decision intelligence across segments. It aims at estimating the market size and the growth potential across different segments, such as offering, type, business functions, verticals, and region. It includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Decision intelligence integrates data, analytics, and AI to optimize outcomes by evaluating scenarios, weighing potential outcomes, and selecting the best option based on data-driven insights. It improves decision-making efficiency, reduces risks, and increases collaboration by streamlining processes and leveraging advanced analytics.
Decision intelligence drives better outcomes in a rapidly evolving business landscape by enhancing decision accuracy, improving operational efficiency through automation, and fostering team collaboration. Embracing decision intelligence methodologies empowers organizations to make informed decisions across various functions, improving agility, innovation, and competitive advantages in today's dynamic business environment.
The Asia-Pacific (APAC) region significantly impacts the Decision Intelligence market through its rapid adoption of advanced analytics, machine learning, and AI technologies. Key industries such as finance, healthcare, and retail leverage data-driven insights to enhance decision-making processes and gain competitive advantages.
APAC's growing digital transformation initiatives, coupled with the increasing adoption of cloud computing and big data analytics platforms, fuel the demand for Decision Intelligence solutions. The region's emphasis on optimizing operational efficiencies, improving customer experiences, and achieving business scalability drives substantial investments and innovations in the Decision Intelligence market across diverse sectors.
The report provides an assessment of market shares, growth strategies, and service offerings of leading players such as IBM (US), Oracle (US), Intel (US), Microsoft (US), Google (US), TCS (INDIA), among others in the decision intelligence market.
By offering, the platform segment is projected to hold the largest market size during the forecast period.
Platforms are experiencing significant growth in the decision intelligence market, driven by AI integration, automation, and scalable analytics capabilities. These platforms leverage advanced algorithms, machine learning, and natural language processing to extract actionable insights from vast datasets. They enable businesses to streamline decision-making processes, optimize resource allocation, and improve operational efficiency.
Cloud-based solutions offer flexibility, scalability, and real-time analytics, empowering organizations to make data-driven decisions swiftly. Integrated dashboards and visualization tools enhance data interpretation, fostering team collaboration and alignment. Platform growth in decision intelligence underscores the importance of agile, data-centric approaches in modern business strategies.
By type, decision support system is registered to grow at the highest CAGR during the forecast period.
The adoption of DSS in the decision intelligence market is driven by several key factors. Businesses recognize the importance of data-driven decision-making processes, prompting the need for sophisticated systems that can analyze vast datasets. Technological advancements, particularly in AI, ML, and data analytics, have facilitated the development of these systems, enabling organizations to gain valuable insights for informed decision-making. Additionally, competitive pressures compel companies to make quick and well-informed decisions to maintain their edge in the market.
As businesses grow in complexity, decision support systems help manage the increasing number of variables and factors involved in decision-making. Cost reduction is also a significant driver, as DSS can automate processes and minimize errors associated with manual analysis. Furthermore, decision support systems ensure compliance with industry regulations in regulated industries, such as finance and healthcare, by providing evidence-based decision-making processes. Adopting DSS in the decision intelligence market is essential for organizations to stay competitive, make better decisions, and navigate the complexities of today's business landscape effectively.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 334 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $13.3 Billion |
| Forecasted Market Value (USD) by 2030 | $50.1 Billion |
| Compound Annual Growth Rate | 24.7% |
| Regions Covered | Global |
Premium Insights
- Growing Advent of Machine Learning and Artificial Intelligence to Propel Market
- Decision Intelligence Market to Witness a Minor Decline in Y-O-Y Growth in 2024
- Marketing & Sales Segment to Account for Largest Market During Forecast Period
- Platforms and Bfsi Segments to Account for Significant Market Shares in 2024
- North America to Account for the Largest Market Share in 2024
Case Study Analysis
- Faculty AI Leveraged AI to Enhance Military Capabilities and Protect Citizens
- Bigbear.AI Supported DoD in Achieving Decision Advantage Through AI-Powered Analytics
- Humana Used IBM Watson Assistant to Address Customer Queries
- Coca-Cola Used IBM Watson Services for Core Machine Learning to Identify Equipment Issues, Diagnose Problems, and Troubleshoot Repairs
- Freeandsingle Generated 5 More Value from Existing User Base with Peak.AI
- Pyramid Analytics Helped Broward County Aviation's Fort Lauderdale-Hollywood International Airport Take Decision Intelligence to New Heights
- Clearsense Improved Healthcare Operations Through Data Analysis with Smartview
Market Overview and Industry Trends
Drivers
- Advent of ML and AI Helping Various Industries to Maximize Potential
- Increase in Need to Lower Risks Associated with Human Decisions
Restraints
- Information Overload and Dependence on Decision Support Systems
- Inability to Quantify ROI
Opportunities
- Surge in Developments of Big Data Technology for Actionable Business Intelligence
- Elimination of Mistakes and Biases from Decision-Making Process to Boost Adoption of Decision Intelligence Technology
Challenges
- Extraction of Data from Data Silos
- Concerns About Security and Privacy of Data
Evolution
- Ecosystem Analysis
- Solution Providers
- Service Providers
- Platform Providers
- End-users
- Regulatory Bodies
Technological Analysis
Key Technologies
- Artificial Intelligence (AI)
- Big Data
- Cybersecurity
Adjacent Technologies
- Blockchain
- IoT
Complementary Technologies
- Nlp
- Cloud Computing
- Digital Twins
Company Profiles
Key Players
- IBM
- Oracle
- Intel
- Microsoft
- Tcs
- Domo
- Board International
- H2O.AI
- Provenir
- Pyramid Analytics
- 4Cast
- Systems Technology Group (Stg)
- Course5I
- Ey
- Quantexa
Start-Ups/SMEs
- Quantellia
- Planningforce
- Peak.AI
- Diwo
- Remi AI
- Cerebra
- Clarifai
- Flyr
- Metaphacts
- Paretos
- Tellius
- Evolution Analytics
- Hyperfinity
- Aera Technology
- Urbint
For more information about this report visit https://www.researchandmarkets.com/r/khe0ww
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