Rising Number of Automated Rule Deployment Procedures Resulting in Rapidly Increasing
Rising Number of Automated Rule Deployment Procedures Resulting in Rapidly Increasing Business Rules Management System Demand: Fact.MR Report
The global business rules management system market is expected to reach US$ 1.5 billion in 2024, as revealed in a study recently updated by Fact.MR, a market research and competitive intelligence provider. Revenue from business rules management systems (BRMSs) is approximated to increase at a CAGR of 8.8% from 2024 to 2034.
Increased demand for BRMS services is attributed to the growing utilization of automated rule deployment procedures. These services and software come with several advantages such as cost-efficiency, error-free operation, and speedier business development.
Deployment of BRMS and related services and solutions in large enterprises is increasing at a fast pace. These enterprises are known for investing in modern technologies such as automation, ML, and AI to increase process efficiency and production. Constant efforts are made by large-scale enterprises for the management and operation of cloud-based applications to ensure operational efficiency with BRMS deployment. However, lack of well-framed documents for business laws is adversely impacting the demand growth for business rules management systems to some extent.
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Key Takeaway from Market Study:
“Rising number of online applications along with growing requirements for maintaining and altering business rules with changing business requirements and laws are driving up the demand for BRMS services and solutions,” says a Fact.MR analyst.
Increased Efficiency and Cost-effectiveness of Cloud-based BRMS Services and Solutions
Global demand for cloud-based business rules management systems is analyzed to increase at a CAGR of 8.2% and reach a value of US$ 2.4 billion by the end of 2034. Growing demand for these systems is owing to their increased efficiency and cost-effectiveness, which is subsequently contributing to global market growth.
Key Market Players:
Some of the leading business rules management system providers include Oracle, PEGASYSTEMS, FICO, IBM, Progress Software, Broadcom, SAS, Software AG, Newgen Software, Open Text, ACTICO, Fujitsu, and Signavio.
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Business Rules Management System Industry News:
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the business rules management system market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights into the market based on component (software, services), deployment (on-premise, cloud), organizational size (large enterprises, SMEs), and vertical (BFSI, government & defense, telecom & IT, manufacturing, retail & consumer goods, healthcare & life sciences, transportation & logistics, energy & utilities, others), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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