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Global Business Rules Management System Market to 2023: Increasing Focus of Companies on Data-Driven Decision Making & Rising Number of SMES Creating New Revenue Opportunities for VendorsDUBLIN, Nov. 19, 2018 /PRNewswire/ -- The "Business Rules Management System Market by Software, Service (Integration and Deployment, Training and Consulting, and Support and Maintenance), Organization Size, Deployment Type, Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering. The global BRMS market is expected to grow from USD 0.84 Billion in 2018 to USD 1.41 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11% during the forecast period. BRMS helps organizations in complying with various regulations, including capital requirements in banking or eligibility requirements for government benefits. It enables companies to capture policies and regulations, making it easier to enforce those rules during every transaction through automated processes. However, the existing vendor services make it difficult for companies to switch to new vendors, due to high switching cost, changes to be made in implementation, and training employees to use these new systems. These factors might restrict the adoption of BRMS solutions. Key Topics Covered: 1 Introduction 5.2.3 Opportunities 5.2.3.1 Increasing Focus of Companies on Data-Driven Decision Making 5.2.3.2 Rising Number of SMES Creating New Revenue Opportunities for Vendors 5.2.4 Challenges 5.2.4.1 Lack of Documentation on Business Rules 5.2.4.2 Fear of Vendor Lock-In 6 Business Rules Management System Market, By Component 6.1 Introduction 6.2 Software 6.2.1 External Management of Business Rules is A Major Advantage of Adopting BRMS Software and Services 6.1 Services 6.1.1 BRMS Services are Extensively Used Among Enterprises to Maximize the Efficiency of the Business Processes 7 Business Rules Management System Market, By Service 7.1 Introduction 7.2 Integration and Deployment 7.2.1 System Integration Services Help Organizations Plan Their Integration Layouts as Per Their Business Requirements 7.3 Support and Maintenance 7.3.1 Maintenance Services Facilitate Upgrades to Existing Systems and Aid in Solving Product Issues 7.4 Training and Consulting 7.4.1 Consulting Services Provide Expert Assistance for Strategic Planning and Implementation of BRMS Software 8 Business Rules Management System Market, By Organization Size 8.1 Introduction 8.2 Small and Medium-Sized Enterprises 8.2.1 Immediate Responses, Quick Business Decisions, and Customer Satisfaction Help Small and Medium-Sized Enterprises in Expanding Their Business, Generating More Revenue, and Ensuring Desired Outcomes 8.3 Large Enterprises 8.3.1 BRMS Software Helps Large Enterprises in Effective Decision-Making 9 Business Rules Management System Market, By Deployment Type 9.1 Introduction 9.2 On-Premises 9.2.1 The On-Premises Deployment of BRMS Software Helps Organizations Manage Costs and Maintain Compliance 9.3 Cloud 9.3.1 Cloud-based BRMS Software offers Agility and Provides More Functionalities at an Affordable Cost 10 Business Rules Management System Market, By Vertical 10.1 Introduction 10.2 Banking, Financial Services, and Insurance 10.2.1 BFSI Companies are Adopting Advanced Technologies and BRMS Software and Services to Increase Their Operational Efficiency 10.3 Government and Defense 10.3.1 BRMS Software and Services Help Government Agencies Put Policies Into Practice 10.4 Telecom and IT 10.4.1 The Adoption of BRMS Software has Helped in Significantly Expanding the Portfolios of Telecom and IT Enterprise Customers 10.5 Manufacturing 10.5.1 BRMS Software Helps Accelerate Decision-Making and Improve the Efficiency of Business Processes By Automating and Increasing the Agility in Organizations 10.6 Retail and Consumer Goods 10.6.1 BRMS Software Helps in Decision-Making By Acting as A Bridge to Connect Customer Transaction With Customer Insights and Action Data 10.7 Healthcare and Life Sciences 10.7.1 BRMS Software Offers Greater Control, Improved Flexibility, and the Ability to Rapidly Deploy Business Rules Across Processes, Information Systems, and Channels 10.8 Transportation and Logistics 10.8.1 BRMS Software Maximizes Efficiency, Speeds Up Delivery, and Ensures Smooth Functioning of Business Without Disruption 10.9 Energy and Utilities 10.9.1 BRMS Software Helps Meet the Compliance requirements in the Energy and Utilities Vertical 10.10 Others 11 Business Rules Management System Market, By Region 11.1 Introduction 11.2 North America 11.2.1 Adopting BRMS Software and Services Helps the Region Sustain in the Market and Increase Its Productivity By Improving Application Performance 11.2.1.1 United States 11.2.1.2 Canada 11.3 Europe 11.3.1 the Growing Number of Enterprise Applications and Increasing Complexities in Applications and Infrastructure are Expected to Increase the Adoption of BRMS Software in the European Market 11.3.1.1 United Kingdom 11.3.1.2 Germany 11.3.1.3 France 11.3.1.4 Rest of Europe 11.4 Asia Pacific 11.4.1 Enterprises Need for Services With Lower Capital and Operational Expenditure Expected to Increase the Adoption Rate of BRMS Software in the Region 11.4.1.1 Japan 11.4.1.2 Australia and New Zealand 11.4.1.3 China 11.4.1.4 Rest of Asia Pacific 11.5 Middle East and Africa 11.5.1 Lower Capex and Opex are the Major Drivers for the Adoption of BRMS Software and Services in This Region 11.5.1.1 Kingdom of Saudi Arabia 11.5.1.2 South Africa 11.5.1.3 United Arab Emirates 11.5.1.4 Rest of Middle East and Africa 11.6 Latin America 11.6.1 There is A Huge Potential for the Growth of BRMS Software and Service Providers in This Region, Owing to the Increasing Awareness of BRMS Software Benefits 11.6.1.1 Brazil 11.6.1.2 Mexico 11.6.1.3 Rest of Latin America 12 Competitive Landscape 12.1 Overview 12.2 Competitive Scenario 12.2.1 New Product Launches/Product Upgradations 12.2.2 Partnerships, Agreements, and Collaborations 12.2.3 Mergers and Acquisitions 12.2.4 Business Expansions 13 Company Profiles
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