Self-Service Business Intelligence (BI) Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The self-service business intelligence (BI) market size has grown rapidly in recent years. It will grow from $8.47 billion in 2023 to $10.02 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The growth in the historic period can be attributed to the growing adoption of work from home, increasing in the adoption of self-service bi software, the rising government initiative to digitalize the financial and retail sector, and the rise in requirements of business users for self-service dashboards.
The self-service business intelligence (BI) market size is expected to see rapid growth in the next few years. It will grow to $19.70 billion in 2028 at a compound annual growth rate (CAGR) of 18.4%. The growth in the forecast period can be attributed to a rise in requirements of business users for self-service dashboards, growing demand for real-time insights, growing cloud adoption, rising government initiatives to digitalize the financial and retail sector, and growing demand for real-time insights. Major trends in the forecast period include production innovation, integration of automation solutions, technological advancements in BI tools, and collaborations and partnerships.
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Scope Of Self-Service Business Intelligence (BI) Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Self-Service Business Intelligence (BI) Market Overview
Market Drivers –
Growing penetration of e-commerce is expected to propel the growth of the self-service business intelligence (BI) market going forward. E-commerce refers to the online business model facilitating the exchange of goods and services through the Internet. The growing penetration of e-commerce is driven by convenience, expanding internet access, and shifting consumer preferences towards online shopping. Self-business intelligence tools enhance the operational efficiency of e-commerce activities, increase profitability, and offer real-time dashboards that provide immediate insights into business performance, enabling quick decision-making. For instance, in May 2024, according to the United States Census Bureau, a US-based government agency, U.S. retail e-commerce sales for the first quarter of 2024, after adjusting for seasonal variation, reached $289.2 billion, marking a 2.1 percent (±0.7%) increase compared to the fourth quarter of 2023. Therefore, the growing penetration of e-commerce is driving the growth of the self-service business intelligence (BI) market.
Market Trends –
Major companies operating in the self-service business intelligence (BI) market are developing innovative platforms such as no-code, self-service platforms to democratize data access, enabling business users to make data-driven decisions swiftly and efficiently. A no-code, self-service platform is a user-friendly software solution that enables individuals to create, manage, and deploy applications or perform data analysis without needing to write any code. For instance, in July 2023, Comsense Technologies, a US-based marketing technology consulting company, launched IntellSense, a self-service business intelligence and reporting tool. IntellSense boasts an extensive library of over 200 key performance indicators (KPIs) and offers a no-code, self-service platform that simplifies the creation of dashboards and data visualizations. With a 10-day implementation timeline, IntellSense is designed to empower businesses to quickly and easily gain insights from their data without the need for specialized technical expertise.
The self-service business intelligence (BI) market covered in this report is segmented –
1) By Type: Software, Services
2) By Business Function: Finance, Marketing, Sales, Operations And Human Resources
3) By Deployment Model: On-Premises, On-Demand
4) By Application: Fraud And Security Management, Sales And Marketing Management, Predictive Asset Maintenance, Risk And Compliance Management, Customer Engagement And Analysis, Supply Chain Management And Procurement, Operations Management, Other Applications
5) By End-User Industry: Banking, Financial Services And Insurance (BFSI), Information technology(IT) And Telecommunication, Healthcare, Transportation And Logistics, Retail And E-Commerce, Media And Entertainment, Government And Defense, Manufacturing, Other End User Industries
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Regional Insights –
North America was the largest region in the self-service business intelligence (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 business intelligence (BI) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the self-service business intelligence (BI) market are <b>Amazon.com Inc, Google LLC, Microsoft Corportaion, International Business Machines Corporation, Oracle Corporation, SAP SE, SAS Institute Inc, Tableau Software LLC, ZOHO Corporation Pvt Ltd, Alteryx Inc, MicroStrategy Inc, Cloud Software Group, Qlik Technologies Inc, Domo Inc, Sisense Ltd, ThoughtSpot Inc, Pyramid Analytics, Yellowfin International Pvt Ltd, AnswerRocket, TARGIT AS, Dundas Data Visualization Inc, Datapine GmbH , Birst Group Inc, Power BI</b>
Table of Contents
- Executive Summary
- Self-Service Business Intelligence (BI) Market Report Structure
- Self-Service Business Intelligence (BI) Market Trends And Strategies
- Self-Service Business Intelligence (BI) Market – Macro Economic Scenario
- Self-Service Business Intelligence (BI) Market Size And Growth
…..
- Self-Service Business Intelligence (BI) Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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