What is the Historic and Current Scenario of the Decision Intelligence Market?
The decision intelligence market has seen considerable growth due to a variety of factors.
•In recent times, the decision intelligence market has experienced swift expansion. The market, which is projected to swell from $15.06 billion in 2024 to $17.54 billion in 2025, will show a compound annual growth rate (CAGR) of 16.5%.
The escalation during the historic period is due to the emergence of big data analytics, the evolution of business intelligence tools, the increasing intricacy of decision-making procedures, the advancement in data integration abilities, and the adoption of cloud computing for data storage.
What are the Forecasted Growth and Key Factors of the Decision Intelligence Market?
The decision intelligence market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of decision intelligence is predicted to experience a sharp increase over the coming years, reaching $35.88 billion in 2029 with a compound annual growth rate (CAGR) of 19.6%.
This surge during the forecasted period is associated with the proliferation of IoT devices and data streams, the intricacy of cross-functional decision-making, the incorporation of predictive analytics in decision-making processes, the utilization of decision intelligence in managing supply chains, the tailoring of decision intelligence to meet industry-specific needs, and an emphasis on continual learning and adaptable decision systems. Significant trends anticipated during this period encompass advancements in machine learning technology, the amalgamation of artificial intelligence with decision intelligence, the expansion of edge computing for immediate decision-making, and the fusion of natural language processing for decision guidance.
What Are The Leading Drivers Of Growth In The Decision Intelligence Market?
The boom in the healthcare sector is anticipated to catalyze the expansion of the decision intelligence market in the future. This sector encompasses the provision of medical goods, services, and support related to healthcare to individuals, communities, and broader populations. In this realm, decision intelligence enhances patient care, hones healthcare procedures, and improves overall health outcomes. It empowers health professionals and organizations to make decisions rooted in the insights generated from data, analytics, and artificial intelligence, facilitating the early identification of high-risk individuals for certain diseases. For example, the Centers for Medicare & Medicaid Services, a federal agency in the U.S., reported in September 2024 that health care expenditure in the U.S. rose by 4.1% in 2022, totaling $4.5 trillion, or $13,493 per person. This represented 17.3% of the nation's Gross Domestic Product. Consequently, the soaring growth in the healthcare sector is fueling the expansion of the decision intelligence market.
How Are The Segments Defined Within The Global Decision Intelligence Market?
The decision intelligence market covered in this report is segmented –
1) By Component: Solution, Services, Platform
2) By Deployment Mode: On-Premise, Cloud Based
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
4) By Application: Demand Forecasting, Discovering Cause, Logistics Optimization
5) By End User: Retail And E-Commerce, Healthcare, Banking, Financial Services And Insurance (BFSI), Energy, Manufacturing, Transportation And Logistics, Information Technology And Telecommunications, Other End-Users
Subsegments:
1) By Solution: Predictive Analytics, Decision Support Systems, Machine Learning Models
2) By Services: Consulting Services, Implementation Services, Training And Support
3) By Platform: Cloud-Based Platforms, On-Premises Platforms, Hybrid Platforms
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How Are New Trends Expected To Influence The Growth Of The Decision Intelligence Market?
The rise of AI-driven solutions is a notable trend in the decision intelligence market. To maintain market dominance, major players in this industry are focusing on the development of novel AI-enabled technologies. For example, MDS Global, a software organisation based in the UK, introduced its product, MDS DecisionAI, in May 2023. It's an AI-supported marketing decision intelligence platform that utilizes artificial intelligence to assist companies in making more effective marketing decisions by providing them with insights into their markets, competitors, and customers. This platform is designed specifically for the telecoms industry providing a comprehensive range of AI-enabled modules including forecasting, churn, propensity models, and marketing and media mix analyses. It also helps them quickly identify areas of opportunity and blind spots, thereby allowing them to make well-informed decisions about strategic changes, innovation investments, and the distribution of commercial and marketing budgets.
Who Are the Key Players in the Decision Intelligence Market?
Major companies operating in the decision intelligence market include:
• Google LLC
• Microsoft Corporation
• Intel Corporation
• International Business Machines Corporation (IBM)
• Oracle Corporation
• Advanced Micro Devices Inc.
• Baidu Inc.
• Arm Limited
• Alteryx
• insightsoftware
• Domo Inc.
• Alation
• Sisense
• Looker
• Board International
• ThoughtSpot
• Systems Technology Group
• Peak.ai
• Heap
• Ayasdi
• Cerebra
• Enlitic Inc.
• Provenir
• Diwo Inc.
• AiCure LLC
• Clarifai Inc.
• Metaphacts GmbH
• H2O.ai Inc.
• Pyramid Analytics BV
• Quantellia
What Is The Most Dominant Region In The Decision Intelligence Market?
North America was the largest region in the decision intelligence market in 2024. The regions covered in the decision intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
