Decision Intelligence Market by Component (Software and Services), by Deployment Mode (On-Premise and Cloud), by Enterprise Size (Small and Medium Enterprises (SMEs) and Large Enterprises), by Application (Supply Chain Optimization, Fraud Detection & Risk Management, Customer Analysis & Targeting, Predictive Maintenance & Operational Efficiency, Text & Speech Analytics, and Others), by End-User (Banking Financial Services and Insurance (BFSI), Retail & e-Commerce, Automotive & Manufacturing, Healthcare & Life Sciences, Telecom & IT, Government & Defense, and Others)- Global Opportunity Analysis and Industry Forecast 2023-2030

Market Definition

The global Decision Intelligence Market size was valued at USD 10.64 billion in 2022 and is predicted to reach USD 36.06 billion by 2030 with a CAGR of 16.5% from 2023-2030. Decision intelligence is an AI-powered technology that enables organizations to make better and more accurate decisions. It is an interdisciplinary field that integrates parts of economics, computer science, statistics, operations research, and cognitive psychology. It combines data, analytics, and AI to provide a comprehensive approach to decision-making.

Decision intelligence, further involves analyzing data and insights to identify opportunities, risks, and areas for improvement, as well as developing strategies for taking action based on this analysis. Decision intelligence enables organizations to make more informed decisions, reduce risk, and increase efficiency.

Market Dynamics and Trends

The increasing demand for effective decision-making across industries such as banking and finance, healthcare, and retail is driving the decision intelligence market growth. Decision intelligence solutions help minimize human errors and improve decision-making processes in these industries. Moreover, the increasing adoption of AI and ML technologies along with the rise of big data and the Internet of Things (IoT) is also driving the growth of the global market. These technologies generate huge amounts of data that can be used to make more informed decisions by businesses.

Furthermore, the increasing focus on digital transformation initiatives such as cloud-based deployment is also driving the growth of the decision intelligence market. Cloud-based deployment allows for more flexible and scalable solutions as well as easier access to data and analytics tools, making it easier for organizations to implement decision intelligence solutions to help them make data-driven decisions.

However, the inability to analyze intangible data such as emotions, sentiment, or human behavior, as well as the risk of system design failure due to inadequate implementation or maintenance are the major factors restraining the growth of the market. On the contrary, the introduction of deep learning and natural language processing in decision intelligence to precisely interpret the data to make accurate and fast decisions are expected to create ample opportunities in the coming years.

Market Segmentations and Scope of the Study

The decision intelligence market report is segmented on the basis of component, deployment, enterprise size, application, and end-users. On the basis of component, the market is divided into software and service. On the basis of deployment, the market is classified into on-premise and cloud.

On the basis of enterprise size, the market is segmented into small and medium enterprises (SMEs) and large enterprises. On the basis of application, the market is divided into supply chain optimization, fraud detection & risk management, customer analysis & targeting, predictive maintenance & operational efficiency, text & speech analytics, and others.

On the basis of end-users, the market is classified into banking, financial services, and insurance (BFSI), retail & e-commerce, automotive & manufacturing, healthcare & life sciences, telecom and IT, government & defense, and others. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America holds the dominant share of the decision intelligence market and is expected to continue its dominance during the forecast period. The flourishing e-commerce industry in countries like the US and Canada is fueling the need for decision-intelligence solutions in this region. Decision intelligence involves the analysis of customer data to uncover patterns and trends, enabling personalized product recommendations and enhancing pricing and inventory management. By leveraging decision-intelligence tools, businesses can make data-driven decisions that improve customer experiences, boost sales, and optimize their overall operations in the competitive e-commerce landscape.

According to the Census Bureau of the Department of Commerce, U.S. retail e-commerce sales reached USD 265.9 billion in 2022. Moreover, the growing use of decision intelligence in BFSI sectors in this region to analyze customer behaviour, predict their needs, and customize personalized products is further driving the growth of the market. For instance, in September 2021, the Bank of New York Mellon adopted Quantexa technology for decision intelligence to speed up banking functions and transactions. The adoption of the technology was aimed towards fraud detection, risk management, and customer satisfaction.

On the other hand, Asia Pacific is expected to show a steady rise in the growth of the decision intelligence market. This is due to the growing BFSI sector that leads to the rising need for decision intelligence solutions to improve the efficiency and accuracy of financial transactions and operations. According to the Cambridge University Press, China's banking sector reached USD 49.5 trillion in assets at the end of 2020.

Moreover, the growing automotive vehicle industry in this region is further driving the growth of the decision intelligence market. Decision intelligence is used for the predictive maintenance of machines during manufacturing and in the development of autonomous vehicles to make real-time decisions based on sensor data and navigation information. According to the Ministry of Industry and Information Technology, China is the largest automotive manufacturing country in the world with a sale of 25 million vehicles in 2020 and it is expected to reach 35 million vehicles by 2025. 

Competitive Landscape

Various market players operating in the decision intelligence industry include Aera Technology, AiCure, Baidu, Inc., Clarifai, Inc., Enlitic, Inc, H2O.ai., Oracle, SAS Institute, Inc., IBM, Alphabet, Inc., Microsoft, SAP SE, Xfactrs, Tellius, Inc., Quantexa and others. These market players are adopting various strategies such as product launches and partnership programs to remain dominant in the market. For instance, in November 2022, Xfactrs launched an AI-based decision intelligence platform. The AI-based decision intelligence platform detects revenue, cost, and opportunity leakage in the lead-to-cash lifecycle and proactively sends signals to enable corrective actions.

Moreover, in November 2022, Tellius, Inc., launched the latest version of its decision-intelligence platform. The new platform featured insights for more complete views, accelerated ad hoc analysis in an enterprise-controlled manner, and faster onboarding and time to insights. Furthermore, in June 2022, Quantexa announced a partnership program to deliver innovative decision intelligence solutions. Quantexa and its partners will help customers in the banking, government, insurance, and telecommunications industries manage risk and identify new business opportunities.

Key Benefits

• The report provides a quantitative analysis and the estimations of the decision intelligence market from 2023 to 2030, assisting to identify the prevailing market opportunities.

• The study comprises a deep dive analysis of the current and future decision intelligence market trends, depicting the prevalent investment pockets in the industry.

• Information related to key drivers, restraints, and opportunities and their impact on the  market is provided in the report. 

• Competitive analysis of the key players, along with their market share is provided in the report.

• SWOT analysis and the Porter's Five Forces model is elaborated on in the study.

• Value chain analysis in the market study provides a clear picture of the roles of the stakeholders.

Decision Intelligence Market Key Segments

By Component 

• Software 

• Services

• By Deployment Mode 

• On-Premise 

• Cloud

By Enterprise Size 

• Small and Medium Enterprises (SMEs) 

• Large Enterprises

By Application 

• Supply Chain Optimization

• Fraud Detection & Risk Management

• Customer Analysis & Targeting

• Predictive Maintenance & Operational Efficiency

• Text & Speech Analytics

• Others

By End-User 

• Banking, Financial Services and Insurance (BFSI)

• Retail & E-Commerce

• Automotive & Manufacturing

• Healthcare & Life Sciences

• Telecom & IT

• Government & Defense

• Others

By Region

• North America

  • U.S

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • Italy

  • Spain

  • United Kingdom

  • Russia

  • Sweden

  • Rest of Europe 

• Asia-Pacific

  • Australia

  • China

  • India

  • Japan

  • South Korea

  • Indonesia

  • Singapore

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

Report Scope and Segmentation

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