According to the latest report by IMARC Group “Self-Service BI Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, The global self-service BI market reached a value of US$ XX Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2021-2026.
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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