Self-Service BI Global Market Report 2024

Self-service business intelligence (BI) is an approach to data analytics that empowers businesses and users to access and explore datasets, enabling the creation of unique data visualizations and informed decision-making without requiring prior knowledge of statistical analysis, data mining, or data manipulation. This approach allows users to access data at any time and from any location, leveraging the capabilities of the cloud.

The main components of self-service BI include solutions and services. Self-service BI solutions involve a combination of strategy and technology to gather, analyze, and interpret data from internal and external sources. Software within self-service BI solutions assists business teams in analyzing and visualizing data to derive meaningful insights, and these solutions are available both on-premises and in the cloud. Applications of self-service BI include sales and marketing, customer engagement and analysis, fraud and security management, risk and compliance management, predictive asset maintenance, operations management, and supply chain management and procurement. Various industry verticals, such as banking, financial services, and insurance (BFSI), retail and e-commerce, telecom and information technology (IT), government and defense, healthcare, manufacturing, media and entertainment, transportation and logistics, and energy and utilities, utilize self-service BI.

The self-service BI market research report is one of a series of new reports that provides self-service BI market statistics, including self-service BI industry global market size, regional shares, competitors with a self-service BI market share, detailed self-service BI market segments, market trends and opportunities, and any further data you may need to thrive in the self-service BI industry. This self-service BI market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The self-service bi market size has grown rapidly in recent years. It will grow from $9.77 billion in 2023 to $11.24 billion in 2024 at a compound annual growth rate (CAGR) of 15.0%. The growth observed in the historical period can be attributed to the increase in data-driven decision-making, the heightened complexity of business data, the demand for faster and more agile business intelligence, the emphasis on user empowerment in data analysis, and the rise of business users as data consumers.

The self-service bi market size is expected to see rapid growth in the next few years. It will grow to $20.7 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The anticipated growth in the forecast period can be attributed to the increasing integration of artificial intelligence and machine learning in self-service BI, the adoption of augmented analytics for enhanced insights, an increased focus on data governance and security in self-service BI, the expansion of self-service BI in cloud environments, and the growth in natural language processing for querying and reporting. Key trends expected in the forecast period include self-service BI for real-time data analytics, the incorporation of mobile and collaborative features in self-service BI platforms, integration with data preparation and data wrangling tools, customization and personalization in self-service BI dashboards, and the utilization of self-service BI in embedded analytics for applications.

The increasing adoption of cloud computing services within businesses is anticipated to propel the growth of the self-service BI market. Companies globally are integrating cloud-based operations into their business processes to enhance the scalability of internet-based database capabilities while reducing costs and mitigating risks. Self-service BI solutions leverage data insights for decision-making, aiding organizations in achieving their objectives. With major business intelligence data stored in the cloud to secure information and provide on-demand shared data and processing resources, the growing use of cloud technology is driving the expansion of the self-service BI market. According to an O'Reilly survey in November 2021, 90% of organizations were embracing cloud computing. Additionally, Gartner Inc. reported an expected 17% growth in the global public cloud services market, reaching $266.4 billion in 2020, up from $227.8 billion in 2019. Hence, the adoption of cloud computing is poised to fuel the growth of the self-service BI market.

The rise in the number of small and medium-sized enterprises (SMEs) is projected to drive the growth of the self-service business intelligence (BI) market. SMEs, falling within a specific size range in terms of revenue, employees, or other criteria, generate a substantial volume of data through their operations. As the number of SMEs increases, so does the data they produce. Self-service BI tools play a crucial role in helping SMEs analyze this data, derive insights, and make informed, data-driven decisions. In 2022, the Small Business Administration (SBA) reported that small businesses in the U. S. created 8.7 million new jobs in March 2021, with a total of 9.1 million new jobs generated by small enterprises in the previous year. This growth in SMEs has supported the expansion of the self-service business intelligence (BI) market.

Technological advancements stand out as a prominent trend gaining momentum in the self-service market. Advanced BI solutions have become increasingly valuable, enabling businesses to refine data and gauge customer needs and satisfaction through analytics and insights. Major companies in the self-service market are incorporating new technologies like AI and machine learning into BI solutions to enhance their market positions. This integration, coupled with automated technologies, equips companies with improved problem-solving capabilities. For instance, in June 2023, GEODIS, a U. S. -based third-party logistics (3PL) company, introduced Analytics Interactive, a new technology tool developed in partnership with Yellowfin BI. This tool offers customized dashboards and reports, allowing GEODIS and its customers to track various aspects of the supply chain, making it more efficient and responsive to customer needs.

Major companies operating in the self-service business intelligence (BI) market are expanding their businesses through technological advancements such as Analytics Interactive. This technological tool, providing visual dashboards for a comprehensive understanding of business operations, contributes to the efficiency of the supply chain. In July 2021, Zoho, an India-based cloud-based software developer, unveiled an AI-powered Business Intelligence Platform integrating DataPrep with Zoho Analytics. This platform, equipped with data preparation tools, offers visual dashboards, versatile deployment options, and robust security features, connecting to over 250 data sources.

In July 2021, Atos, a France-based information technology service and consulting company, acquired Visual BI to enhance its capabilities in meeting the growing demand for BI and analytics in cloud environments. Visual BI, a U. S. -based provider of end-to-end BI and analytics enablement, brought cloud data-related capabilities, consulting services, and partnerships to Atos' technology portfolio.

Major companies operating in the in the self-service bi market report are Microsoft Corporation, The International Business Machines Corporation., Oracle Corporation., SAP SE, SAS Institute Inc., Alteryx Inc., Birst Inc., BOARD International S. A., Domo Inc., GoodData Corporation, InetSoft Technology Corp., Information Builders Inc., Logi Analytics Inc., Looker Data Sciences Inc., MicroStrategy Incorporated, Panorama Software Ltd., Pentaho Corporation., Phocas Software, Qlik Technologies Inc., Sisense Inc., Tableau Software LLC., Targit A/S, Tibco Software Inc., Yellowfin International Pty Ltd., Zoho Corporation Pvt. Ltd., 1010data Inc., Workday Inc., Arcadia Data Inc., Datameer Inc., Hitachi Vantara LLC., Sweetspot Intelligence Inc.

North America was the largest region in the self-service BI market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the self-service bi market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the self-service bi market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The self-service business intelligence (BI) market includes revenues earned by providing managed services, professional services, alterations, maintenance, and repairs. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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