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Business Rules Management System Brms Market

Business Rules Management System (BRMS) Market Forecasts to 2028 – Global Analysis By Product Type (User-Friendly Interface, Supporting Natural Language), End User (Government, Healthcare, Retail, Logistics), and By Geography

4.4 (62 reviews)
Published: June 2021 ID: SMRC20580
4.4 (62 reviews)
Published: June 2021 ID: SMRC20580

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Business Rules Management System (BRMS) Market is accounted for $1.00 billion in 2020 and is expected to reach $2.81 billion by 2028 growing at a CAGR of 13.8% during the forecast period. Reduced dependency on it teams for writing business rules, increasing need to manage regulatory and policy compliance and growing need to improve process efficiency are driving the market growth. However profit-driven approach of companies is hampering the growth of the market.

 

business-rules-management-system-(BRMS)-fig-10.png

Business rules management system (BRMS) is a technology that enables businesses to capture decision logic as a business rule and later automate it across the software applications instead of embedding it into multiple applications every single time it is modified or developed freshly. This methodology helps in managing those rules externally away from the code of existing applications. The adoption of BRMS offers advantages such as safeguarding the integrity of decision logic, identifying conflicting and incomplete rule logics, complining rules for open standards integration into applications, and enabling scalability. Apart from these, the BRMS enables users to enhance the ability to respond quickly, improve productivity, and improve accuracy.

Based on the organization size, the large enterprises segment is going to have lucrative growth during the forecast period. Business entities employing more than 1,000 people are categorized as large enterprises. The adoption of BRMS software and services among large enterprises is high, and the trend is expected to continue during the forecast period. Large enterprises are majorly investing in advanced technologies to increase their overall productivity and efficiency. Large enterprises are significantly focused on simplifying the operations and management of cloud-native applications on any cloud and even across clouds. BRMS software helps large enterprises in making effective decisions, and hence the adoption of the BRMS software and services is expected to be higher among the large enterprises.

By geography, North America is going to have lucrative growth during the forecast period, owing to the demand for improved decision making and increasing efficiency and enhance accuracy. The regional market has been segmented into the US, Canada, and Mexico. Companies such as Nestle in the United States have mentioned adopting BRMS solutions for monitoring and comply with the complex business rules in the country. With this adoption, the company has mentioned that it has streamlined the coherent design of smart, rule-based business operations suitable for the digital age. Additionally, the Canadian Government has mentioned adopting BRMS software by partnering with the Business Rule Solutions Inc. based in the United States.

Some of the key players profiled in the Business Rules Management System (BRMS) Market include Bosch, Business Rule Solutions, CA Technologies, FICO, IBM, Inrule Technology, Object Connections, OpenText, Oracle, Pegasystems, Progress Software, Red Hat, SAP SE, Software AG and Sparkling Logic.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 1.00 billion

Estimated Period:

2020

Compound Annual Growth Rate (CAGR)  from 2020 to 2028:

13.8%

Predicted 2028 Value:

USD 2.81 billion

Forecast Years:

2021-2028

Tables, Graphs & Figures                            

259

Chapters Covered:

Component, Operating Environment, Deployment Type, Subscription Type, Organization Size, Product Type, and End User

Core Drivers and Opportunities:

  • Increasing need to manage regulatory and policy compliance
  • Growing need to improve process efficiency
  • Increasing focus of companies on data-driven decision-making

Restraining Factors & Market Threats:

  • Companies’ resistance in adopting modern technologies
  • Lack of documentation on business rules


Components Covered:
• Software
• Solutions
• Platform
• Services

Operating Environments Covered:
• Windows
• Linux
• Mainframe
• Open Sources

Deployment Types Covered:
• On-Premises
• Cloud

Subscription Types Covered:
• Monthly
• Yearly

Organization Sizes Covered:
• Large Enterprises
• Small and Medium Enterprises (SMEs)

Product Types Covered:
• User-Friendly Interface
• Supporting Rules Monitoring & Repairing
• Providing Rule Repsitory
• Supporting Natural Language

End Users Covered:
• Aerospace and Defense
• Banking, Financial Services and Insurance (BFSI)
• Energy and Utilities
• Government
• Healthcare and Life Sciences
• Manufacturing
• Retail and Consumer Goods
• Telecom and Information Technology (IT)
• Travel and Transportation
• Logistics
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Key Questions Answered In The Report

The Global Business Rules Management System (BRMS) Market is majorly driven by reduced dependency on IT teams for writing business rules, rapid digital transformation across industries, and rapid industrialization in developed and developing countries.

The retail and consumer goods segment is growing at a highest CAGR owing to the rising consumer purchasing power. With the proliferation of online markets, retailers are adopting more innovative technologies, such as cloud computing, big data analytics, digital stores, and social networks.

North America dominated with a significant market share due to the large investments in BRMS software, better receptiveness to the adoption of new and emerging technologies, and high penetration of the internet.

Asia Pacific market is growing at a highest CAGR owing to increasing presence of major manufacturers, availability of various subsidiaries by the government such as 100% FDI, and increasing number of SMEs.

Key players profiled in the Business Rules Management System (BRMS) Market include Bosch, Business Rule Solutions, CA Technologies, FICO, IBM, Inrule Technology, Object Connections, OpenText, Oracle, Pegasystems, Progress Software, Red Hat, SAP SE, Software AG and Sparkling Logic.

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