According to the latest report by IMARC Group “Self-Service BI Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, 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.
Self-service business intelligence (BI) refers to a data analytics approach allowing business operators from non-analytical backgrounds to access and explore data sets. It enables them to sort, filter, analyze and visualize data without the requirement of the information technology (IT) team. Apart from this, self-service business intelligence promotes collaboration on multiple divisions and uses ad hoc querying. It also helps in making informed decisions that result in positive business outcomes, which include enhanced customer satisfaction, higher revenue and profits, improved efficiency, etc. Self-service business intelligence is utilized across numerous fields, such as sales, marketing, finance, human resources, operations, etc.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The increasing volume of unstructured and structured data on account of the growing utilization of social media platforms, expanding e-commerce sector, and escalating internet penetration are primarily driving the self-service business intelligence market. Besides this, the rising adoption of data analytics solutions by small and medium-sized enterprises (SMEs) as it aids businesses in decentralizing the analytical process is also augmenting the market growth. In addition to this, several government bodies are encouraging digital payments, which is resulting in a shift towards online payments. This, in turn, is further catalyzing the product demand. Additionally, the increasing need for organizations to be more agile and retain a competitive edge is expected to fuel the self-service business intelligence market in the coming years.
Breakup by Component:
- Software
- Services
Breakup by Deployment Model:
- On-premises
- Cloud-based
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
- Others
Breakup by Industry Vertical:
- BFSI
- Retail and E-Commerce
- Telecom and IT
- Government and Defense
- Healthcare
- Manufacturing
- Media and Entertainment
- Transportation and Logistics
- Energy and Utilities
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- 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.
- Zoho Corporation Pvt. Ltd.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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