Global Self-Service BI Market to Grow at 13.1% During 2024-2032, Bolstered by Rapid Growth of Data Volume

December 20, 2021 | Technology & Media

The latest report by IMARC Group, titled “Self-Service BI Market Report by Component (Software, Services), Deployment Model (On-premises, Cloud-based), Application (Sales and Marketing, Customer Engagement and Analysis, Fraud and Security Management, Risk and Compliance Management, Predictive Asset Maintenance, Supply Chain Management and Procurement), Industry Vertical (BFSI, Retail and E-Commerce, Telecom and IT, Government and Defense, Healthcare, Manufacturing, Media and Entertainment, Transportation and Logistics, Energy and Utilities, and Others), and Region 2024-2032,” finds that the global self-service BI market size reached US$ 9.0 Billion in 2023. Self-service business intelligence (BI) is a software developed with a data analytics approach. It enables business users to access and analyze business data without statistical analysis, BI knowledge, or data mining background. The software allows the implementation and installation of analytical solutions without the need for IT or data professionals. Self-service BI tools also permit the average employee to gain understanding and insights from data, enabling informed business strategies and decision-making. It also helps businesses promote collaborations on different divisions and utilize ad hoc querying. As a result, it finds application across a multitude of business functions, including operations, sales, marketing, finance, production, and human resources sectors.

Global Self-Service BI Market Trends: 

The market is primarily driven by the rising data-driven decision-making models among enterprises that require technical guidance or a dedicated team. In addition, the increasing adoption of cloud computing services and the growing volume of business data are fueling the market growth. For instance, there has been increasing volume of structured and unstructured data across the globe, which is escalating the demand for self-service BI. Moreover, financial institutions like banks are aiming to make their workforce efficient using technology-driven processes for analyzing data and representing actionable information. Due to this, the adoption of BI solutions in banks reduces ongoing costs and maximizes existing talent utilization and resources, thereby fueling the need for self-service BI solutions. Besides this, self-service BI helps corporate executives to make data-driven business decisions and decentralize the business analytical process. Furthermore, factors such as rapid urbanization, increasing penetration of the internet, and the rising influence of social media platforms are positively influencing the market growth. Looking forward, the market is expected to grow at a CAGR of 13.1% during the forecast period (2024-2032).

Market Summary: 

  • Based on the component, the market has been segmented into software and services.
  • On the basis of the deployment model, the market has been classified into on-premises and cloud-based.
  • The market has been categorized based on the application into sales and marketing, customer engagement and analysis, fraud and security management, risk and compliance management, predictive asset maintenance, supply chain management and procurement, and others.
  • On the basis of the industry vertical, the market has been segregated into BFSI, retail and e-commerce, telecom and IT, government and defense, healthcare, manufacturing, media and entertainment, transportation and logistics, energy and utilities, and others.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined, with some of the key players being cisco Systems Inc., HCL Technologies Limited, Hewlett Packard Enterprise Company, International Business Machines (IBM) Corporation, Microsoft Corporation, MicroStrategy Incorporated, Oracle Corporation, QlikTech International AB, SAP SE, SAS Institute Inc., Tableau Software LLC ( Inc.), TIBCO Software Inc., UiPath Inc., and Zoho Corporation Private Limited.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Component, Deployment Model, Application, Industry Vertical, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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 ( Inc.), TIBCO Software Inc., UiPath Inc. and Zoho Corporation Pvt. Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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.

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Global Self-Service BI Market to Grow at 13.1% During 2024-2032, Bolstered by Rapid Growth of Data Volume
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