Global Self Service Business Intelligence (BI) Market Highlights over 2022 – 2031
The global self-service business intelligence (BI) market is estimated to grow at a CAGR of ~16% over the forecast period, i.e., 2022 – 2031. Self-service business intelligence (BI) or SSBI, enables businesses to get access to business data, and analyze it to generate insights. The growth of the market can be attributed to the growing demand for business analysis services amongst the businesses. The demand for SSBI is also growing as it cuts out significant amount of operational cost, and cost of IT vendors for business organizations. Furthermore, the various benefits provided by the SSBI includes improving organizational decision making and reducing response time, along with better allocation of resources, and improved overall results. Moreover, deployment of business intelligence can help reduce the organizational risks, which is further estimated to encourage the market growth. Along with this, SSBI is being extensively adopted by small and medium scale enterprises, as it offers efficient functioning and reduces cost. The growing emergence of new and largely small-scale businesses is also expected to raise the demand for SSBI in the upcoming years. For instance, over 15% of the population in the United States is involved in self-businesses and startups, by the end of 2021. The Asia Pacific region is also experiencing significant surge in startups. For instance, in India, micro, small and medium enterprises or MSMEs contributed to over 30% of the country’s GDP. Besides this, the increasing awareness amongst businesses about the benefits associated with the use of BI, along with the surge in availability of business intelligence vendors who offer a wide range of SSBI software and services are also expected to create numerous opportunities for the growth of the market in the coming years.
The market is segmented by application into sales & marketing management, customer engagement, predictive asset maintenance, and others, out of which, the sales & marketing management segment is anticipated to hold the notable share in the global self-service BI market over the forecast period. This can be attributed to the various complexities related to sales and marketing, which are simplified with the use of SSBI. Moreover, sales are a major source of revenue generation for businesses. Such factors are estimated to boost the segment growth. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global Self Service Business Intelligence (BI) Market Regional Synopsis
On the basis of geographical analysis, the global self-service business intelligence (BI) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing number of startups in developing countries, such as, South Korea, Japan, and India. It was observed that close to 65 million MSMEs were running in India, as of 2021.
The market in the North America region is anticipated to gain the notable market share throughout the forecast period owing to the growing adoption of advanced technologies by the business organizations. Moreover, various business giants headquartered in the U.S. invest or fund startups and small businesses, which is expected to contribute to the market growth.
The global self-service business intelligence (BI) market is further classified on the basis of region as follows:
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North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global self-service business intelligence (BI) market includes the following segments:
By Type
- Software
- Services
By Application
- Sales & Marketing Management
- Customer Engagement
- Predictive Asset Maintenance
- Others
By End-User
- BFSI
- Retail & E-Commerce
- Telecom & IT
- Defense
- Healthcare
- Transportation & Logistics
- Energy & Utilities
- Others
Growth Drivers
- Increasing Number of Small and Medium Enterprises
- Various Advantages provided by SSBI, including Cost Reduction
Challenges
- Lack of Awareness about SSBI amongst SMEs
Top Featured Companies Dominating the Market
- Microsoft Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- International Business Machines Corporation
- Oracle Corporation
- SAP SE
- SAS Institute
- Tableau Software
- MicroStrategy Incorporated
- TIBCO Software Inc.
- Zoho Corporation
- QlikTech International AB
