Pune, India, Nov. 20, 2023 (GLOBE NEWSWIRE) — The global decision intelligence market size was valued at USD 12.88 billion in 2022 and is projected to reach USD 44.63 billion by 2030, exhibiting a CAGR of 17.2% over the estimated period. Fortune Business Insights presents this information in their report titled “Global Decision Intelligence Market Forecast, 2023-2030.”
Decision intelligence is a burgeoning field that centers on optimizing decision-making practices within organizations by blending technology, well-defined processes, and human knowledge. A crucial factor helping the market to grow is the increasing availability and accessibility of big data and advanced analytics tools among businesses to improve decision-making.
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Key Industry Development:
March 2023 – Domo launched a diverse set of solutions, from low-code to pro-code, designed to empower clients to rapidly create and implement personalized data experiences across their entire organization. This initiative aimed to foster improved decision-making and operational efficiency.
Key Takeaways
- Decision intelligence market size in North America was USD 3.98 billion in 2022
- Growing Demand for Cloud-Based Business Intelligence Platforms amid Pandemic Spurred Market Growth
- Strategic Use of Data Analytics and AI Positions Decision Automation Segment as Market Leader
- Large Enterprises Segment Dominated due to Improved Consumer Engagement and Fulfillment
- IT & Telecommunication Led the Market Driven by Rising Adoption of Advanced technologies
Discover the Leading Players Featured in the Report:
“Companies leading the global decision intelligence market are Google (U.S.), IBM (U.S.), Oracle (U.S.), Microsoft (U.S.), Clarifai (U.S.), Paretos (Germany), Pace Revenue (U.K.), Metaphacts (Germany), Diwo.ai (U.S.), Provenir (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 17.2% |
| 2030 Value Projection | USD 44.63 Billion |
| Base Year | 2022 |
| Decision Intelligence Market Size in 2022 | USD 12.88 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 150 |
| Segments covered | Application, Enterprise Type, Industry and Geography |
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Drivers and Restraints:
Adoption of Advanced Technologies in Decision Intelligence to Impel Industry Growth
The adoption of advanced technologies such as AI and ML in decision intelligence solutions to understand customer preference by analyzing data is driving the growth of the market. Moreover, organizations from various industries such as finance and healthcare are adopting these solutions to automate and expedite their decision-making processes, giving them freedom to handle the data more efficiently.
However, the inefficient handling of exabytes and petabytes of data has escalated the risks of security breaches and data. This factor is likely to hinder market growth.
Segmentation
By Application
- Decision Support
- Decision Augmentation
- Decision Automation
By Enterprise Type
- Large Enterprises
- Small & Medium Enterprises
By Industry
- IT & Telecommunications
- BFSI
- Transportation & Logistics
- Retail & Ecommerce
- Consumer Goods
- Construction
- Government
- Others (Manufacturing)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights:
North America to Emerge as Key Region Owing to Growing Adoption of Decision Intelligence Solutions
North America holds a major decision intelligence market share due to the extensive technology adoption across diverse industrial sectors. This tech-savvy environment serves as a catalyst for the rising demand for these solutions, thereby driving substantial market growth.
Asia Pacific market is expected to grow substantially over the analysis period. This is due to the growing emphasis on data-driven strategies and increasing advancements in analytics and AI technologies.
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Competitive Landscape:
Key Firms are focusing on Product Launches to Strengthen their Market Presence
Major industry players operating in the market are focusing on adopting strategic deals to strengthen their positions in the market. These comprise the launch of new products, merger agreements, partnerships, and acquisitions.
FAQs
How big is the decision intelligence market?
The global decision intelligence market size was USD 12.88 billion in 2022. It is expected to reach USD 44.63 billion by 2030.
How fast is the decision intelligence market growing?
The decision intelligence market will exhibit a CAGR of 17.2% during the forecast period, 2023-2030.
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- Decision Intelligence Market