Yahoo Finance The decision intelligence market is projected to grow from USD 10.0 Billion in 2022 to USD 22.7 Billion by 2027, at a CAGR of 17.8%
during the forecast period. Decision intelligence (DI) enables businesses to take prompt, wise judgments. It combines artificial intelligence with data science, management science, behavioral science, and other technologies.
New York, Feb. 02, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Decision Intelligence Market And Services), Deployment Type, Organization Size, Vertical and Region - Global Forecast to 2027" - https://www.reportlinker.com/p06415397/?utm_source=GNW
The effects of a single choice on several individuals, procedures, and KPIs are also shown through DI. Artificial intelligence is the central element of every decision intelligence (DI) system (AI). An efficient DI model requires the use of AI methods including machine learning, deep learning, data visualization, business intelligence, and predictive modelling. Business intelligence (BI), which offers precise and up-to-date data and analysis for several operations, is quickly being a crucial component of DI solutions. Decision-makers may use this to make educated, data-driven judgments. Business process is made more flexible by BI, which enables business executives to use self-service analytics to analyse and display data without relying on assistance from technical people.
The BFSI segment to have the largest market size during the forecast period
By vertical, the segments include BFSI, telecom, healthcare and life sciences, retail and e-commerce, government and defense, manufacturing, IT and ITeS, energy and utilities, transportation and logistics, and others (media and entertainment, travel and hospitality, and education and research).Financial services businesses use Decision Intelligence to process credit applications for transactions such as mortgages and vehicle loans.
AI-powered, it can use a customer’s credit score, income, or other data to confirm a client’s eligibility for specific services.Morgan Stanley, a sophisticated financial institution, that helps its consumers make wiser choices by utilizing in-house financial advisors and advanced decision-making technologies.
Decision Intelligence powers their wealth management technology.Following the client’s goal the AI system offers successful strategies, which are then confirmed by human specialists before being presented to the consumer.
The banking industry employs decision intelligence to examine consumer behavior, anticipate demands, identify pain points, and create individualized products. According to a McKinsey report, only 20% of businesses are satisfied with their decision-making speed. Others admit to spending too much time attempting to make the perfect decision, which is not always the case.
The deployment & integration solution is registered to grow at the highest CAGR during the forecast period
By services, the decision intelligence had been segmented into Consulting, deployment & implementation, support & maintenance.The technical expertise provided by integration and deployment services enables organisations to select the appropriate software architecture for their operational requirements.
For system integration and deployment services, the appropriate amount of connections and back-end integration expertise are therefore required. Due to the fact that these services ensure that systems work effectively with one another to increase the effectiveness of the whole supply chain and production process, they are gaining popularity among end users throughout the globe.
Among Vertical, Healthcare and Life Sciences vertical is anticipated to register the highest CAGR during the forecast period
The use of AI and RPA in healthcare decision intelligence has a wide range of advantages, including better data processing for developing high-quality electronic health record management, creating a user-friendly workflow for effective patient care, and improving the decision-making abilities of healthcare professionals.Healthcare organisations must enhance their decision intelligence by utilising AI technologies in a world of rapid change and rapidly shifting relationships with information.
AI is the key to unlocking opportunities to add decision intelligence into healthcare organisations that functionalize over growing streams of data and constant learning to make information easily accessible for better decision making.
North America to account for the largest market size during the forecast period
North America is expected to have the largest market share in the decision intelligence market.North America is one of the leading markers for Decision Intelligence in terms of market share.
Countries, such as the US and Canada, are adopting Decision Intelligence technology in multiple application areas, propelling the growth of Decision Intelligence in this region.The high penetration of Decision Intelligence in multiple verticals, such as BFSI, healthcare, and retail, is driving the growth of this market in this region.
The North American region has been extremely open toward the adoption of any new and innovative technologies and is expected to provide market growth opportunities to Decision Intelligence vendors, as it is expected to witness an exponential growth of IT device-based generated data and stringent laws and policies for safeguarding the data.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the decision intelligence market.
• By Company: Tier I: 62%, Tier II: 23%, and Tier III: 15%
• By Designation: C-Level Executives: 38%, D-Level Executives: 30%, and Others: 32%
• By Region: APAC: 35%, Europe: 15%, North America: 40%, MEA: 5%, Latin America: 5%
The report includes the study of key players offering decision intelligence and services.It profiles major vendors in the global decision intelligence market.
The major vendors in the global decision intelligence market include Google (US), IBM (US), Oracle (US), Microsoft (US), Board International (Switzerland), Cerebra (US), Clarifai (US), Diwo.ai (US), Domo (US), H2O.AI (US), Intel (US), Metaphacts (Germany), Pace Revenue (UK), Paretos (Germany), Peak.ai (UK), Provenir (US), Quantellia (US), Systems Technology Group (US), Pyramid Analaytics (Netherlands), Tellius (US) and Course5i (India).
Research Coverage
The market study covers the decision intelligence market across segments.It aims at estimating the market size and the growth potential of this market across different segments, such as components, deployment mode, organization size, vertical, and region.
It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall decision intelligence market and its subsegments.It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies.
It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p06415397/?utm_source=GNW
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