The global business rules management system (BRMS) market is expected to reach the CAGR of 10% during the forecast period.
The business rules management system (BRMS) is a software used to outline, install, monitor, and perform business rules. Business rules are logical statements that define the operations and behaviour of a business. Business rules management system also defines the smart rules and ensures the efficient execution of these rules during the runtime, which provides streamlined business processes to stakeholders and customers. Further, business rules management system provides benefits like low dependency on the IT team and cost effectiveness, which are expected to drive the market for business rules management system during the forecast period.
The deployment of business rules management system solutions in various industry verticals such as healthcare, retail, IT & telecom, manufacturing, logistics, transportation, and others, will create opportunities for the market in the coming years. The ability of business rules management system to promote fast, accurate, and easy rules, coupled with the clear identification, is the factor that is driving the growth of the market during the forecast period.
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Based on organisation size, the larger enterprise segment dominated the market in 2018 and is expected to show similar trends in the coming years. Business rules management system enable large enterprises to take effective decisions, which increases the demand for business rules management system in the market. In terms of deployment, on-premises deployment shows significant growth during the forecast period. The on-premises software provides benefits like storage of data within the company’s premises, elimination of third-party involvement and the availability of security measures, which in turn increase the market share of the segment.
North America dominated the market in 2018 and is expected to show similar trends during the forecast period. The increasing investment by organizations in order to adopt business rules management system solutions, is driving the growth of the market in the region.
The key players operating in this market are IBM (US), Oracle (US), CA Technologies (US), Red Hat (US), Software AG (Germany), SAS (US), Bosch (Germany), Progress Software (US), SAP (Germany), Fujitsu (Japan), and others. Companies involved in this market concentrate on research and development, along with acquisitions & mergers and innovation in products, in order to strengthen their market share.
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In October 2018, IBM announced the launch of new Operational decision manager to their business rules management system solution and owing to this launch, the company will try to hold its market position during the forecast period. In February 2018, Red Hat updated its JBoss business rules management system software which will help organisations in building applications that automate business decisions. In February 2018, Pegasystems and Idio announced their strategic partnership and owing to this partnership, Idio’s content intelligence engine will be combined with the AI-driven, real-time customer decision platform of Pegasystems. This partnership will further help the companies in strengthening their market position.
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