Reduction of operational and maintenance costs, need for increased agility in enterprise, reduction of time to market are factors driving the Global Business Rules Management Market
Bangalore, India, June 9, 2017 (Newswire.com) - The Global Business Rules Management System (BRMS) market had a good market in 2015 and is expected to reach US$ 1,443.9 million by 2020, growing at a CAGR of 17.8% during the forecast period. Open source experienced the highest market growth, at a CAGR of 31.2%. BRMS application is highest in Banking and Healthcare. Retail and manufacturing are the emerging sectors for BRMS usage.
A business rules management system is a software used to install, outline, monitor, perform and maintain the complexity of decision logic that is used in operational systems in an organisation. Every organisation’s key business policies and regulatory compliance data are securely locked inside multiple software systems and usually not accessible to leaders/managers responsible for executing business policies and protocols. Business Rules Management System (BRMS) provides customised solutions to react quickly to all kinds of business rules and policies in a far more efficient manner than traditional methods.
"The BRMS market has seen moderate growth in North America and Europe although North America had the largest share in 2014. Asia market is expected to grow very rapidly in the coming years but not faster than Latin America, Middle East & Africa which are expected to be the fastest growing markets in 2020 as compared to 2015."
Jaydeep Bhattacharjee, Group Head - Syndicated Research
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“The BRMS market has seen moderate growth in North America and Europe although North America had the largest share in 2014. Asia market is expected to grow very rapidly in the coming years but not faster than Latin America, Middle East & Africa which are expected to be the fastest growing markets in 2020 as compared to 2015,” said Jaydeep Bhattacharjee, Group Head – Syndicated Research.
The major end user verticals for BRMS are banking, financial services and insurance (BFSI), healthcare, retail and manufacturing. A strong growth was experienced in all the major verticals during the forecast period. Retail and manufacturing are the emerging sectors.
The key vendors in the BRMS market are Bosch, IBM, FICO, Fujitsu, Oracle, Progress Software, Red Hat, and Newgen Software.
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- The BRMS Market for the Windows operating system segment is expected to reach $519.8 million by 2020 at an estimated CAGR of 14.9% during the forecast period
- North America BRMS market is estimated to grow at a CAGR of 14.7% during the forecast period
- The BRMS market penetration in BFSI and healthcare is estimated to grow at a CAGR of 16.5% and 15.9%, during the forecast period
- Logistics is an emerging sector for BRMS application and it is estimated to grow at a CAGR of 24.8% during the forecast period
- This report not only highlights users’ conundrums but also brings in their perspective about the market
- Provides industry outlooks including current and future market trends and drivers, restraints, and emerging technologies
- The report analyses the top players in terms of market reach, business strategy, and business focus
- Competitive landscape: Stakeholders’ insights and key trends (current and future) of the market
Source: Infoholic Research