Increase in data-driven managerial models between enterprises are blooming in the analytics market, which has thrived the acceptance of self-service BI platforms to gain insights without the necessity for technical supervision or dedicated team. Financial organizations such as banks, are uninterruptedly looking for technological conducts to make their present staff more effectual. As self-service BI tools offer technology-driven procedure for examining data as well as represents actionable data, thus it aids corporate managers to make more well-versed and information driven business choices. Other factors that increase the development of global self-service BI market include persistent varying business requirements, the need for being an enhanced analytic-driven organization and It’s incapability to encounter the business needs within the specified time. Additionally, proliferation of self-service analytics tools amongst small and medium scale organization is an opportunistic aspect of the global self-service BI market. However, installing self-service BI tools demand a real and comprehensive data governance, integrated monitoring and controlling user interactions which are the serious challenges that are anticipated to hamper the growth of self-service BI market.
The global self-service BI market is categorized on the basis of deployment modes namely, on-cloud, and on-premises. Among this deployment mode, on-cloud have the maximum share in the market. Cloud BI has the ability to solve user’s difficulties, which they are presently facing in the on-premise BI solutions. Along with this, the self-service BI market is also categorized based on application, that include sales & marketing, fraud & security management, predictive asset maintenance, operations management, supply chain management & procurement, and others. Among the applications, fraud & security management has the maximum share in the market. Moreover, the self-service BI market is also categorized based on end-use industry, that include BFSI, retail & e-commerce, telecom & IT, healthcare, manufacturing, transportation & logistics, and others. Among this end-use industry, manufacturing has the maximum share in the market.
On the basis of region, categorization of self-service BI market includes North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America holds the largest share of the self-service BI market. This is primarily owing to the presence of numerous developed economies such as Canada and the U.S. and high emphasis on research and development work happening across industry verticals in the North America region. APAC is anticipated to be the fastest growing region in the self-service BI market due to the growing penetration of Internet of Things (IoT) and smart technologies along with government regulations and investments for smart cities in APAC countries such as China and India.
COVID-19 pandemic affected lives of people globally and hence, most of the business have been halted and hampered. The self-service BI market has shown a stable growth in the year 2020 during COVID-19. The increasing acceptance of work from home notion during pandemic by sectors such as IT and telecom, healthcare, e-commerce & retail, media and entertainment, along with BFSI has poured the requirement for self-service BI market. During the COVID-19 pandemic as companies across the world are accepting BI and analytics to perform their plans and strategies for existence within the crisis.
Some of the key players from the self-service BI market include Microsoft Corporation, IBM Corporation, Oracle Corporation, SAP SE, Cisco Systems, Inc., TIBCO Software, SAS Institute Inc., Tableau Software, Qlik Technologies, Zoho Corporation among others. Incorporation of advanced technology for improved performance of self-service BI, along with intensive research and development are among main strategies adopted by top players in the self-service BI market.
Recent News and Development:
- In July 2021, Zoho Corporation declared its advanced BI Platform an AI-driven data analytics solution allowing businesses to surface accurate as well as actionable insights over self-service data groundwork and enlarged analytics.
- In June 2021, Qlik Technologies announced its first self-service reporting now available in Qlik Sense SaaS
- May 2019 - SAP SE proclaimed a series of inventions to SAP S/4HANA to make it simple to add artificial intelligence (AI) and robotics, and to modify apps, this will aid companies advance business results, mechanise business processes as well as make correct predictions for better results.
