Dublin, April 26, 2019 (GLOBE NEWSWIRE) -- The "Global Business Rules Management System (BRMS) Market By Component (Software & Services), By Organization Size (Large Enterprises & SMEs), By Deployment Mode (On-premise & Cloud), By Vertical, By Region, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.

The global Business Rules Management System (BRMS) market is forecast to exhibit a CAGR of 11.42% during the forecast period, growing from $847.7 million in 2018 to $1,630.67 million by 2024, on account of surging demand for managing regulatory and policy compliance needs, globally.

Business rules management system (BRMS) is a software used to install, outline, perform and monitor the complexity of decision logic used in an organization. Moreover, enterprises are adopting BRMS software, as it offers low dependency on IT team for changing business rules, lower costs and Line of Business (LOB) control over implemented decision logics, etc.

Business Rules Management System (BRMS) market can be segmented based on component, organization size, deployment mode and vertical. In terms of component, the market can be bifurcated into software and services. Services segment includes support & maintenance service, integration & deployment services and training & consulting services. Integration & deployment segment is the largest segment, as it includes support related to the easy implementation and use of applications. Moreover, the former segment ensures uninterrupted operation of the BRMS software, thereby aiding market growth during the forecast period.

In terms of organization size, business rules management system (BRMS) market can be classified into SMEs and large enterprises. Large enterprises segment is anticipated to capture the leading market share in coming years, as it helps in taking effective decisions and large enterprises have more change adapting tendency. In terms of vertical, the market for business rules management system (BRMS) can be classified into BFSI, manufacturing, IT & telecom, government & defense and others. Government & defense is one of the emerging sectors in the market, as it helps to accelerate the decision making process and improve the efficiency of business processes.

The Global Business Rules Management System (BRMS) market is gaining traction and expanding to various regions including North America, Europe, Asia-Pacific, South America and Middle East & Africa. In 2018, North America dominated the global Business Rules Management System (BRMS) market and the trend is likely to continue during the forecast period, backed by huge investments in BRMS solutions in economies such as US and Canada.

Major players operating in the global Business Rules Management System (BRMS) market are Oracle Corporation, International Business Machines Corporation (IBM), CA Technologies, Inc., Fair Isaac Corporation and Pegasystems Inc., etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. In 2018, IBM updated its BRMS system, which now supports decision modeling. In the same year, Red Hat Inc. also updated its BRMS software with Decision Manager 7.

Years considered for this report:

Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024

Objective of the Study

• To analyze and forecast the global Business Rules Management System (BRMS) market size.
• To classify and forecast the global Business Rules Management System (BRMS) market based on component, deployment mode, organization size, vertical and regional distribution.
• To identify drivers and challenges for the global Business Rules Management System (BRMS) market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global Business Rules Management System (BRMS) market.
• To identify and analyze the profile of leading players operating in the global Business Rules Management System (BRMS) market.

Key Topics Covered

1. Product Overview

2. Research Methodology

3. Executive Summary

4. Voice of Customer
4.1. Global Business Rules Management System Respondents, Benefits
4.2. Global Business Rules Management System Respondents, Adoption Challenges
4.3. Global Business Rules Management System Respondents, By Key Factors Driving Adoption
4.4. Global Business Rules Management System Respondents, By Vendor Selection
4.5. Global Business Rules Management System Respondents, By Vendor Challenge

5. Global Business Rules Management System (BRMS) Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Component (Software and Services)
5.2.1.1. Services (Integration & Deployment Services; Support & Maintenance Services; and Training & Consulting Services)
5.2.2. By Organization Size (Large Enterprises and Small & Medium Enterprises)
5.2.3. By Deployment Mode (Cloud Deployment and On-Premise Deployment)
5.2.4. By Vertical (BFSI; Manufacturing; Government & Defense; IT & Telecom; and Others)
5.2.5. By Region (North America; Europe; Asia Pacific; South America and Middle East & Africa)
5.2.6. By Company (2018)
5.3. Market Attractiveness Index (By Component; By Vertical and By Region)

6. North America Business Rules Management System (BRMS) Market Outlook

7. Europe Business Rules Management System (BRMS) Market Outlook

8. Asia-Pacific Business Rules Management System (BRMS) Market Outlook

9. South America Business Rules Management System (BRMS) Market Outlook

10. Middle East & Africa Business Rules Management System (BRMS) Market Outlook

11. Market Dynamics
11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

13. Competitive Landscape
13.1. Competition Outlook
13.2. Company Profiles
13.2.1. Oracle Corporation
13.2.2. International Business Machines Corporation (IBM)
13.2.3. CA Technologies Inc.
13.2.4. Fair Isaac Corporation
13.2.5. Pegasystems Inc.
13.2.6. Newgen Software Technologies Limited
13.2.7. InRule Technology
13.2.8. Fujitsu Limited
13.2.9. Red Hat Inc.
13.2.10. SAP SE
(Note: The companies list can be customized based on the client requirements.)

14. Strategic Recommendations

For more information about this report visit https://www.researchandmarkets.com/r/3rwfca

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