Self-Service BI Market Size 2022, Demand, Trends, Scope and Growth Report 2027
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 size reached 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 enabling business operators from non-analytical backgrounds to access and explore data sets. It usually allows them to sort, filter, analyze, and visualize data without the requirement of the information technology (IT) team. Self-service BI aids businesses in promoting collaboration on numerous divisions and utilizing ad hoc querying. In line with this, it also assists in making informed decisions that lead to positive business outcomes, which include improving efficiency, better customer satisfaction, higher revenue and profits, etc. Consequently, self-service BI is extensively used in several fields, including sales, finance, operations, marketing, human resources, 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 rising number of structured and unstructured data, owing to the increasing internet penetration, the widespread adoption of social media platforms, and the expanding e-commerce sector, is primarily augmenting the self-service BI market. Furthermore, the growing utilization of data analytics solutions by small and medium-sized enterprises (SMEs) is positively influencing the global market. Apart from this, self-service business intelligence helps in decentralizing the business analytical process, which is acting as another significant growth-inducing factor. Moreover, the introduction of cloud computing technologies and the escalating demand for online payments are further catalyzing the market growth. Besides this, various financial institutes, including banks, are using technological solutions to make their existing workforce more efficient, which is also bolstering the global market. Additionally, the inflating need for organizations to be more agile and retain a competitive edge is expected to fuel the self-service BI market in the coming years.
Breakup by Component:
- Software
- Services
- On-premises
- Cloud-based
- Sales and Marketing
- Customer Engagement and Analysis
- Fraud and Security Management
- Risk and Compliance Management
- Predictive Asset Maintenance
- Supply Chain Management and Procurement
- Others
- BFSI
- Retail and E-Commerce
- Telecom and IT
- Government and Defense
- Healthcare
- Manufacturing
- Media and Entertainment
- Transportation and Logistics
- Energy and Utilities
- Others
- 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
- 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.
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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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.