New York, April 18: Market Research Engine has published a new report titled as “Global Business Rules Management System (BRMS) Market – Trends & Forecast, 2015-2020”.
The Global Business Rules Management System (BRMS) market is estimated to reach $636.7 million in 2015 to $1,443.9 million by 2020 at an estimated CAGR of 17.8% from 2015 to 2020. As a rule, technologies that entered in the other software market such as business process management (BPM) and service oriented architecture (SOA), began to compromise with the advantages of BRMS.
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Enterprises have become increasingly comfortable with the open source model for developing and deploying mission-critical applications. Depending on the operating environment, open source has the highest market growth, which is estimated at a CAGR of 31.2% from 2015 to 2020.
“The Business Rules Management System market has seen moderate growth in North America and Europe regions where North America had the largest share in 2014, but few regions such as Latin America, Middle East & Africa are expected to be the fastest growing markets in 2020 as compared to 2015”.
The BRMS adoption has been increasing every year in all verticals, such as banking, financial services and insurance (BFSI), healthcare, retail and manufacturing, contributing a positive growth in 2015 and expected the same growth by 2020 as well. The BRMS market penetration in BFSI and healthcare is more compared to the other verticals. Retail and manufacturing are the most emerging verticals in this market.
The small and medium enterprise (SMEs), and enterprises are expected to contribute a huge market share for BRMS over the year 2015–2020. The BRMS is a very strong tool for modern enterprises. It allows the organizations to incorporate complex decision logic into line of business application and quickly updates underlying business rules as market conditions change.
• The Windows operating system market share is expected to contribute $259.8 million in 2015 to $519.8% million by 2020 at an estimated CAGR of 14.9% from 2015 to 2020.
• North America market is estimated to reach at a CAGR of 14.7% from 2015 to 2020.
• The BRMS market penetration in BFSI and healthcare is estimated to reach at a CAGR of 16.5% and 15.9%, respectively from 2015 to 2020.
• Logistic vertical is an emerging sector of BRMS market and it is estimated to reach at CAGR of 24.8% by 2020.
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