Decision Intelligence Market size to exceed $25 Bn by 2032

Decision Intelligence Market size is predicted to reach USD 25 billion by 2032, according to a new research report by Global Market Insights Inc.
 

Enterprises are focusing on eliminating human intervention for taking critical decisions based on incomplete data which is expanding the use of technology to forecast an intelligent solution, fueling the business revenue. Digitization in BFSI sector offers new opportunities to the industry players to develop innovative decision intelligence products and services, which is predictable to accelerate the market's expansion. For instance, in June 2022 Quantexa, a leading worldwide supplier of Contextual Decision Intelligence solutions, announced the introduction of its inaugural Partner Program, a global framework to better support the growth and success of its consulting, delivery, technology, and data partners from the banking, government, insurance, and telecommunications sectors.
 

Growing number of businesses integrating new capabilities to boost solution segment revenue

As per components, the solution segment accounted for 25% share in the decision intelligence market in 2022, as more businesses integrate new capabilities to give asset managers the intelligence that they need to analyze market trends, better understand consumer behavior, and make better decisions about fund distribution for improved outcomes. For instance, in April 2022, FNZ, the global wealth management platform, and Clearstream, the post-trade services provider, partnered to significantly enhance support for asset managers by significantly increasing transparency across the entire industry through the launch of a new cutting-edge business intelligence solution for the UK and European asset management industry.
 

Advantage of customization to propel on-premises segment expansion

In terms of deployment, the on-premises segment held over 30% of the overall decision intelligence market share in 2022. The value of decision intelligence technology is found in its capacity to compile big, unrelated data sets, evaluate them, and provide useful information. Although cloud applications offer scale and cost benefits, they offer universal functionality and limited customization, which increases the preference for on-premises decision intelligence systems. In addition, the increasing deployment of on-premises decision intelligence solutions and platforms by larger companies for tailored services and technology to retrieve data from specific sources is estimated to stimulate the market demand.
 

Escalating necessity for real-time data insights to enhance the small/medium segment share

As per organization size, the small/medium segment will cross USD 10 billion by 2032. Decision intelligence is vital for SMEs as they seek realistic, data-driven solutions to simplify complicated decisions in mission-critical areas such as conversion rates, client retention, resource allocation, task management, supply chain efficiency, and profitability. Furthermore, rising product uptake to obtain real-time data insights and streamline critical company processes and data management will accelerate the market growth.
 

Browse key industry insights spread across 200 pages with 419 market data tables and 36 figures & charts from the report, “Decision Intelligence Market Size By Components (Solution, Consulting & Advisory Service, Others], Platform), By Deployment Mode (On-premises, Cloud-based), By Organization Size, By Application (Demand Forecasting, Discovering Cause & More), By End Use, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/decision-intelligence-market
 

Rising use of machine learning by logistics companies to favor logistics optimization segment demand

Application wise, the decision intelligence market from logistics optimization segment is poised to record over 10% CAGR till 2032. The logistics industry is one of the sectors with the greatest number of organizations actively utilizing ML procedures since logistics companies constantly innovate and evolve in order to remain competitive. These automated solutions frequently produce better outcomes than human employees because of machines' aptitude for high-speed processing, relative objectivity, access to enormous volumes of data sources, or even absence of subjective bias toward certain options, which has raised the demand for decision intelligence for logistics optimization.
 

Massive investments accelerating the use of AI and ML technologies to foster healthcare segment growth

By end-use, the decision intelligence market from healthcare segment was valued at USD 1 billion in 2022. The numerous benefits of using AI and RPA in healthcare decision intelligence, such as improved data processing for electronic health record management, user-friendly workflow for effective patient care, and improved healthcare professionals' decision-making abilities, are projected to result in increased use of decision intelligence through 2032. Moreover, increasing investments in integrating cutting-edge AI and ML technologies to improve outcomes are anticipated to promote the market expansion. For example, in September 2022, the National Institutes of Health announced a $130 million investment over four years to expedite the broader use of AI in biological and behavioral research.
 

Increasing penetration of AI and ML-enabled decision intelligence solutions to augment Europe industry share

Europe decision intelligence market will hold more than 25% share by 2032, owing to the rising penetration of AI and ML-enabled decision intelligence solutions upgrading the delivery of essential public services including healthcare, energy, and transportation, which is expected to create growth opportunities for decision intelligence vendors throughout Europe. Furthermore, the UK government is transforming the public sector operations with the help of data analytics. For instance, in August 2022, Pyramid Analytics, a leading provider of decision intelligence platforms, has established a UK Public Sector Practice that will make augmented analytics available to all UK government departments, agencies, and organizations.
 

Strategic acquisitions to expand global presence to define the competitive landscape of the industry

Some of the leading companies operating in the decision intelligence market include Advanced Micro Devices, Inc., Baidu, Inc., AiCure LLC, Arm Limited, H2O.ai, Inc., Ayasdi AI LLC, Clarifai, Inc., and Enlitic, Inc. These businesses are largely focusing on various strategies like implementing expansion plans and improving processes. For instance, in January 2022, Fractal, a worldwide supplier of artificial intelligence and superior analytics to Fortune 500 firms, acquired Neal Analytics, an engineering, data, and AI Microsoft Gold consulting partner, to expand AI and power choices. It also enhanced the company's footprint in the Pacific Northwest, Canada, and India.