The global self-service BI market reached a value of US$ 6.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 15.5 Billion by 2027, exhibiting a CAGR of 15.09% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Self-service business intelligence (BI) is a data analytics approach enabling business operators from non-analytical background to access and explore data sets. It allows them to sort, filter, analyze and visualize data without the requirement of the information technology (IT) team. Besides this, it helps businesses promote collaboration on multiple divisions and utilize ad hoc querying. As it also assists in making informed decisions that lead to positive business outcomes, which include improving efficiency, better customer satisfaction, and higher revenue and profits. Consequently, there is a rise in the utilization of self-service BI in different fields, such as sales, finance, operations, marketing, and human resources.
Self-Service BI Market Trends:
There is a surge in the volume of structured and unstructured data across the globe, which can be accredited to globalization, increasing internet penetration, rising utilization of social media platforms and the burgeoning e-commerce sector. This, in confluence with the growing adoption of data analytics solutions by small and medium-sized enterprises (SMEs), represents one of the key factors positively influencing the adoption of service-service BI. It aids businesses in decentralizing the business analytical process. Moreover, the increasing emergence of cloud computing technologies in BI is offering lucrative growth opportunities to market players. Apart from this, as governing agencies of numerous countries are encouraging the utilization of digital payments, there is a considerable rise in the number of individuals shifting towards online payments. As a result, financial institutes like banks are seeking technological solutions to make their existing workforce more efficient. This, along with the growing need for organizations to be more agile and retain a competitive edge in the market, are positively influencing the utilization of self-service BI around the world.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global self-service BI market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, deployment model, application and industry vertical.
Breakup by Component:
Breakup by Deployment Model:
Breakup by Application:
Sales and Marketing
Customer Engagement and Analysis
Fraud and Security Management
Risk and Compliance Management
Predictive Asset Maintenance
Supply Chain Management and Procurement
Breakup by Industry Vertical:
Retail and E-Commerce
Telecom and IT
Government and Defense
Media and Entertainment
Transportation and Logistics
Energy and Utilities
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Cisco Systems Inc., HCL Technologies Limited, Hewlett Packard Enterprise Company, International Business Machines Corporation, Microsoft Corporation, MicroStrategy Incorporated, Oracle Corporation, QlikTech International AB, SAP SE, SAS Institute Inc., Tableau Software LLC (Salesforce.com Inc.), TIBCO Software Inc., UiPath Inc. and Zoho Corporation Pvt. Ltd. Key Questions Answered in This Report:
How has the global self-service BI market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global self-service BI market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the deployment model?
What is the breakup of the market based on the application?
What is the breakup of the market based on the industry vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global self-service BI market and who are the key players?
What is the degree of competition in the industry?