The global Business Rules Management System Market size is expected to grow from USD 1.0 billion in 2020 to USD 1.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 11.8% during the forecast period. Reduced dependency on IT teams for writing business rules is a major driver for the growth of the market during the forecast period.
Software segment to hold a larger market size during the forecast period
A BRMS enables defining, analyzing, executing, auditing, and maintaining a wide variety of business rules that are applied to complex decision logic within an organization. The software provides 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, BRMS software and services are adopted for their major advantage, which is, the business rules are managed externally, away from the application code. This facilitates the business logic to be leveraged by multiple applications and changed independently from the governing applications.
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Support and maintenance services segment to grow at the highest cagr during the forecast period
Support and maintenance services include the support related to the implementation and use of solutions, and are provided by BRMS vendors. Maintenance services facilitate upgrades to the existing systems and aid in solving product issues. Support services empower organizations to efficiently tackle service requests, such as end-user issues, technical issues, encryptions, and security issues.
The business rules management system market comprises major providers, such as IBM (US), FICO (US), PEGASYSTEMS (US), Oracle (US), Progress Software (US),s SAP (Germany), Broadcom (US), ACTICO (Germany), SAS (US), InRule Technology (US), Software AG (Germany), OpenText (Canada), Newgen Software (India), Fujitsu (Japan), Experian (Ireland), Sparkling Logic (US), Business Rule Solutions (US), Decisions LLC (US), TIBCO (US), Intellileap (India), Agiloft (US), Signavio (Germany), Decision Management Solutions (US), CNSI (US), and Decisions on Demand (US). The study includes an in-depth competitive analysis of key players in the business rules management system market with their company profiles, recent developments, and key market strategies.
The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and enhancements; and geographic expansion, partnerships, and agreements, have been the most dominating strategies adopted by the major players from 2016 to 2020, which helped them strengthen their offerings and broaden their customer base.
In the BRMS market, IBM offers IBM Operational Decision Manager (ODM) as a part of IBM automation platform for digital business to help organizations document, implement, change, and govern the repeatable decisions that control business operations. Furthermore, the company has a significant presence in more than 175 countries and mainly caters to the regions of India, China, and Southeast Asia; Eastern Europe; MEA; and Latin America. IBM has a wide customer base in various industries. These industries include automotive, aerospace and defense, banking, consumer products, financial markets, healthcare, insurance, media and entertainment, oil and gas, education, electronics, energy and utilities, petroleum, and travel and transportation.
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FICO was founded in 1956 and is headquartered in California, US. The company has an exhaustive product portfolio, including solutions for predictive analysis, decision management, fraud and security, debt management, marketing and customer engagement, collection and recovery management, and communication services. FICO operates through 3 business segments, namely, Applications, Scores, and Decision Management Software. In the BRMS market, FICO offers the rules authoring solution, Blaze Advisor Decision Rules Management System, which provides rule authoring, testing, deployment, and management methods for building decision assets and operationalizing analytics for driving more accurate decisions.
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