Business Rules Management System

Business Rules Management System Market Is Poised To Reach A Valuation Of Nearly US$ 3.5 Billion By 2032

Technology

Business Rules Management System Market Outlook

The global business rules management system market is estimated to grow at an impressive CAGR of 10.6%. It is poised to reach a valuation of nearly US$ 3.5 Bn by 2032, from US$ 1.3 Bn in 2022.

The increased requirement to handle regulatory and compliance policies, as well as the formalization of corporate activities, are the primary drivers of the business rules management system market.

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Key Segments

  • By Component :

    • Software
    • Services
  • By Deployment Type :

    • On-premises
    • Cloud
  • By Organizational Size :

    • Large Enterprise
    • SMEs
  • By Vertical :

    • BFSI
    • Government and Defense
    • Telecom and IT
    • Manufacturing
    • Retail and Consumer Goods
    • Healthcare and Life Sciences
    • Transportation and Logistics
    • Energy and Utilities
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East & Africa

How Strong is the Competitive Landscape for the Business Rules Management System Market?

With numerous established multinational competitors competing in the global business rules management system market, many businesses compete with little or no product difference. As a result, many businesses are aggressively seeking out strategic mergers and acquisitions in order to expand their market dominance.

  • Pegasystems announced Value Finder, an AI-powered solution, in September 2020 to assist businesses engage a previously underserved group of customers based on product-centric eligibility and prioritizing parameters.
  • Progress Software released Corticon.js in July 2020, a serverless business rules engine that allows for rapid rule development, testing, and deployment in essential JavaScript applications.
  • FICO and Equifax announced a collaboration in March 2019 to create a cloud-based Data Decisions Connected Platform that combines the former’s digital decisioning capabilities with the latter’s data management and analytics capabilities. Equifax IgniteTM is integrated with FICO Cloud Applications and FICO Decision Management Suite (DMS) to assist enterprises analyze risk, guard against fraud, and boost marketing capabilities using data management and analytics technology.

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