Self-Service BI Market Recent Trends, In-depth Analysis, Size, Key Players And Forecast To 2033

The self-service bi market size has grown rapidly in recent years. It will grow from $9.77 billion in 2023 to $11.24 billion in 2024 at a compound annual growth rate (CAGR) of 15.0%. The growth in the historic period can be attributed to growth in data-driven decision making, increased complexity of business data, demand for faster and agile business intelligence, emphasis on user empowerment in data analysis, rise of business users as data consumers.

The self-service bi market size is expected to see rapid growth in the next few years. It will grow to $20.7 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to increasing integration of artificial intelligence and machine learning in self-service bi, adoption of augmented analytics for enhanced insights, increased focus on data governance and security in self-service bi, expansion of self-service bi in cloud environments, growth in natural language processing for querying and reporting. Major trends in the forecast period include self-service bi for real-time data analytics, mobile and collaborative features in self-service bi platforms, integration with data preparation and data wrangling tools, customization and personalization in self-service bi dashboards, use of self-service bi in embedded analytics for applications.

Market Overview -
Self-service business intelligence (BI) refers to a data analytics approach that allows businesses and users to access and explore data sets. It enables users to create unique data visualizations and make informed decisions without prior knowledge of statistical analysis, data mining, or data manipulation. Self-service BI allows users to access data anytime and from any location with the help of the cloud.

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Cloud Computing Services Boost Self-Service Bi Market Growth.
The rising adoption of cloud computing services in businesses is expected to boost the self-service BI market. Globally, companies have been adopting cloud-based operations in their business processes to enhance the scalability of internet-based database capabilities while lowering costs and risk. Self-service BI solutions use data insights to make decisions that assist organizations in meeting their objectives. Major business intelligence data is stored in the cloud to secure information and provide on-demand shared data and processing resources to computers connected to the internet. This increasing use of the cloud generates more businesses that are solved using self-service BI, which drives the growth of the self-service BI market forward. For instance, in November 2021, according to an O'Reilly survey, cloud adoption was increasing across industries, with 90% of organizations utilizing cloud computing. Furthermore, according to Gartner Inc., a management consulting firm, the global public cloud services market size is expected to grow 17% to $266.4 billion in 2020, up from $227.8 billion in 2019. Therefore, the adoption of cloud computing will drive the self-service BI market growth.

Competitive Landscape -
Major companies operating in the self-service bi market report are Microsoft Corporation, The International Business Machines Corporation., Oracle Corporation., SAP SE, SAS Institute Inc., Alteryx Inc., Birst Inc., BOARD International S. A., Domo Inc., GoodData Corporation, InetSoft Technology Corp., Information Builders Inc., Logi Analytics Inc., Looker Data Sciences Inc., MicroStrategy Incorporated, Panorama Software Ltd., Pentaho Corporation., Phocas Software, Qlik Technologies Inc., Sisense Inc., Tableau Software LLC., Targit A/S, Tibco Software Inc., Yellowfin International Pty Ltd., Zoho Corporation Pvt. Ltd., 1010data Inc., Workday Inc., Arcadia Data Inc., Datameer Inc., Hitachi Vantara LLC., Sweetspot Intelligence Inc.

Technological Advancements Driving The Self-Service Bi Market
Technological advancements are a key trend gaining popularity in the self-service market. Technical advancements in BI have become more valuable and essential than ever. The advanced BI solution helps in providing more refined data to businesses, enabling them to gauge customer needs and satisfaction through the analytics and insights provided by the business intelligence tool. Major companies in the self-service market are integrating new technologies such as AI and machine learning with BI solutions to strengthen their market position. Combining these advancements with automated technologies provides companies with improved problem-solving capabilities. For instance, in June 2023, GEODIS, a US-based third-party logistics (3PL) company, introduced a new technology tool called Analytics Interactive. This tool was created in partnership with Yellowfin BI, an Australia-based business intelligence (BI) and analytics software company. Analytics Interactive is a type of software that helps GEODIS and its customers see and understand what's happening in their supply chain. It gives them customized dashboards and reports, so they can track things like customs, e-commerce, warehousing, and transportation. It's kind of like having a real-time map of how well GEODIS is meeting its service promises. This technological launch helps make the supply chain more efficient and responsive to customer needs.

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Key Segments -
The self-service bi market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Deployment: On-Premise, Cloud
3) By Application: Sales And Marketing, Customer Engagement And Analysis, Fraud And Security Management, Risk And Compliance Management, Predictive Asset Maintenance, Operations Management, Supply Chain Management And Procurement, Other Applications
4) By Industry Vertical: Banking, Financial Services And Insurance (BFSI), Retail And e-Commerce, Telecom And Information Technology, Government And Defense, Healthcare, Manufacturing, Media And Entertainment, Transportation And Logistics, Energy And Utilities, Other Industry Vertical

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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