Decision Support System Market Scope
Decision support systems (DSS) are interactive software-based systems intended to help managers in decision-making by accessing large volumes of information generated from various related information systems involved in organizational business processes, such as office automation systems, transaction processing systems, etc. Moreover, it allows for more informed decision-making, timely problem-solving, and improved efficiency in dealing with issues or operations, planning, and event management.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | SAP (Germany), Qlik (United States), Information Builders (United States), Parmenides (Germany), TIBCO Software (United States), Riskturn (United States), Paramount Decisions (United States), Lumina Decision Systems (United States), GoldSim Technology Group (United States) and 1000Minds (New Zealand) |
CAGR | % |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Decision Support System market throughout the predicted period.
SAP (Germany), Qlik (United States), Information Builders (United States), Parmenides (Germany), TIBCO Software (United States), Riskturn (United States), Paramount Decisions (United States), Lumina Decision Systems (United States), GoldSim Technology Group (United States) and 1000Minds (New Zealand) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Palisade (United States), Banxia Software (United Kingdom) and River Logic, Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Decision Support System market by Type , by Application (Medical Diagnosis, Agricultural Production, Forest Management and Others) and Region with country level break-up.
On the basis of geography, the market of Decision Support System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In November 10, 2023, Infor (enterprise software) announced plans to acquire PredictiveMD (healthcare analytics DSS) for an undisclosed sum. This acquisition aims to expand Infor's healthcare solutions portfolio with advanced predictive analytics capabilities.
On November 15, 2023, Oracle (enterprise software) announced Oracle Cloud Analytics, a new cloud-based DSS platform with built-in machine learning algorithms for predictive analytics.
Influencing Trend:
AI-based Selected Cognitive Decision-Making Functions (IDSS) and Graphical Presentation of Information by Software
Market Growth Drivers:
Growing Demand from End-Use Industries owing to a Large Amount of Data Traffic, Can Be Programmed To Generate Many Types of Reports, All Based On User Specifications and Flexibility, Efficiency, and Effectiveness of the Software
Challenges:
System Integration with Other Software’s
Restraints:
High Cost of the Software Packages owing to Features and Functions
Opportunities:
Availability of DSS on Mobile Platforms and Technological Advancements such as Cloud and Artificial Intelligence
Key Target Audience
Decision Support System Vendors, Software Developers & Engineers, Business Organizations, End-Use Industry and Others