IMARC Group, a leading market research company, has recently released a report titled “Self-Service BI Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global self-service BI market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The Self-service BI Industry?
According to the report, The global self-service BI market size reached US$ 7.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.0 Billion by 2028, exhibiting a growth rate (CAGR) of 14.9% during 2023-2028.
What is self-service BI?
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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What are the growth prospects and trends in the railway system industry?
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.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
Who are the key players operating in the industry?
The report covers the major market players including:
- 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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