Market Size of Self-service BI Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 15.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Self-service BI Market Analysis
The self-service BI Market is expected to grow at a CAGR of 15.5% during the forecast period. Self-service Business Intelligence (BI) allows business users and operators to access business data and examine them to generate insights even if they do not have any data science and analytical skill and expertise. The Self-service BI market witnessed a noticeable adoption across numerous business fields such as marketing, sales, human resource, operations, and finance, attributed to thorough competitive analysis and comfort of application for non-technical staff.
- Self-Service BI aids business operators from non-analytical backgrounds to make insights and data analyses. The Self-service BI market is facing a growing demand for the business fields attributed to its capability to convert business establishments into efficient data-driven organizations or businesses. The Self-service BI market is projected to grow over the forecast period owing to its capacity to decentralize the business analytical process.
- The Self-Service BI market serves as an advantage to non-technical business customers for studying and analyzing data insights by guiding down the business data. The self-service BI market is rapidly rising because of the shift from conventional BI tools for business data analysis to contemporary BI tools, along with the growing market of structured and unstructured data.
- The principal drivers for the global self-service BI market are the rising demand for generating in-depth competitive data analysis and expanding the business data volume. Other factors that amplify and boost the growth of the global self-service BI market include persistent changing businesses, the need for an improved analytic-driven organization, and the inability to meet business requests within the stipulated time.
- Furthermore, substantial initial capital expenditure is necessary to install self-service BI systems which act as a hindrance to the market.
- During the Covid-19 pandemic, the self-service BI market rose as companies throughout the globe used BI and analytics to implement their goals and plans for survival. The expanding adoption of the work-from-home idea in areas such as IT and telecom, media and entertainment, healthcare, e-commerce, retail, and BFSI had increased demand for the self-service BI market.
