Self-Service BI Market Value

Surge in adoption of self-service BI software due to its ease of use for non-technical staff is a major factor expected to drives the market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, March 19, 2024 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " The Self Service BI Market Size Reach USD 14.19 Billion by 2026, Key Factors behind Market’s Growth." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The self-service BI market size was valued at USD 4.73 billion in 2018, and is projected to reach USD 14.19 billion by 2026, growing at a CAGR of 14.8% from 2019 to 2026.

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Rise in data-driven decision-making models among enterprises are thriving in the analytics market, which has proliferated the adoption of self-service BI platforms to gain insights without the need for technical guidance or dedicated team. Simplified usage of non-technical staff, expanding volume of business data, and rise in need for in-depth competitive insights have augmented the growth of the global self-service BI market. Whereas, high investment costs restrains the market. Nevertheless, expanding the market in SMEs is anticipated to create multiple opportunities in the near future.

The self-service BI market is segmented on the basis of component, deployment, application, industry vertical, and region. By component, it is categorized into software and services. On the basis of deployment, it is bifurcated into on-premise and on-demand. On the basis of application, it is divided into sales & marketing, customer engagement & analysis, fraud & security, management, risk & compliance management, predictive asset maintenance, operations management, supply chain management & procurement, and others. Depending on industry vertical, it is categorized into BFSI, retail & e-commerce, telecom & IT, government & defense, healthcare, manufacturing, media & entertainment, transportation & logistics, energy & utilities, and others. Based on region, the self-service BI market analysis is performed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on component, the software segment held the largest share in 2018, contributing to more than four-fifths of the global self-service BI market. However, the services segment is expected to portray the largest CAGR of 17.4% during the forecast period.

Based on application, the predictive asset maintenance segment is expected to register the fastest CAGR of 18.2% during the forecast period. The segment is anticipated to dominate the market throughout the forecast period. However, the fraud and security management segment dominated in 2018, accounting for more than one-fifth of the global self-service BI market.

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The global self-service BI market is analyzed across various regions including Asia-Pacific, Europe, LAMEA, and North America. The market across North America held the largest share in 2018, contributing to nearly two-fifths of the market. On the other hand, the market across Asia-Pacific is anticipated to manifest the fastest CAGR of 18.0% during the forecast period.

The key market players in the report include IBM Corporation, MicroStrategy Incorporated, Microsoft Corporation, Qlik Technologies, Inc., Oracle Corporation, SAP SE, Tableau Software, SAS Institute Inc., TIBCO Software Inc., and Zoho Corporation Pvt. Ltd.

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COVID-19 Scenario:

● The fact that companies are switching towards BI and analytics to execute their strategies and plans for survival amid the crisis has contributed to the market growth.

● The increased adoption of remote working system amid lockdown by sectors including telecom and IT, healthcare, media and entertainment, BFSI, and retail and e-commerce has increased the demand for self-service BI market.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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