Self-Service Bi Market Size is forecast to reach $9.29 billion by 2027, at a CAGR of 15.73% during 2022-2027. Self-service business intelligence (BI) is typically an integration of machine learning, artificial intelligence approach to data analytics that enables business users to access and work with corporate data even though they do not have a background in big data analytics, statistical analysis and business intelligence among others. Deployment of self-service BI solutions and services improves organizational decision making, increases response time, improve the allocation of resources, improve organizational results and reduces organizational risks which tend to be major driving factor for its market growth during the forecast period. Moreover, growing volume of business data and adoption of internet of things across various enterprises is contributing significantly in the Self-service Bi industry during the forecast period. For instance, according to Cisco, in 2021, 73% of the cloud workloads and compute instances will be in public cloud data centres in United States, up from 58% in 2019 which tend to create huge impact in the growth Self-service Bi market share across the globe. Such factors are vital to positively boost the growth of the Self-service Bi market during the forecast period.
Self-service Bi Market Segment Analysis – By Offering
By Offering, the Self-service Bi Market Report is segmented into Risk and compliance management, Fraud and security management, Operations management, Sales and marketing management, Customer engagement and analysis, Predictive asset maintenance, Supply chain management and procurement and Others. Sales and Marketing management segment is analysed to be the highest growing segment with a CAGR of 17.45% in Self-service Bi Market during the forecast period 2022-2027, owing to the increasing penetration of retail and e-commerce industry across the globe. One of the key capability of AI-powered Self-service Business intelligence solution in sales and marketing management is to enable revenue management and sales teams generate reports and dashboards without the dependency on the high-skilled crew such as data scientists, MIS or IT personnel. Thereby business teams can measure, analyse and optimize trade promotions with real-time data and up-to-date reports and flexible dashboards. For instance, according to International Trade Administration (ITA), retail consumer goods ecommerce is by far the most dynamic and leading of the two consumer focuses. It had an 18% share of the total global retail sales for 2020 and is forecast to have over a 1% annual growth rate, achieving a nearly 22% share of total global retail sales by 2024. This tend to create huge demand of Self-service Bi solutions offering sales and marketing management services, further propelling Self-service Bi Market during the forecast period.
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Self-service Bi Market Segment Analysis – By End-Use Industry
By End-use Enterprise, the Self-service Bi Market Report is segmented into BFSI, IT & Telecommunication, Healthcare, Transportation & Logistics, Retail & E-commerce, Media & Entertainment, Government and Defence, Manufacturing and Others. Retail & E-commerce industry is analysed to be the highest growing segment with a CAGR of 17.25% in Self-service Bi Market during the forecast period 2022-2027, owing to the increasing penetration of online sales and rising connectivity of global e-commerce industry owing to significant investments in imports and exports of goods. For instance, according to U.S. Department of Commerce, after the giant ecommerce surge brought on by the start of the pandemic, online sales growth slowed significantly for 2021 as many vaccinated and weary consumers returned to stores. Digital spending during the Q4 of 2021 increased 9.2% year over year, bringing the total jump in ecommerce for 2021 to 14.2%. This increasing digital spending tend to bring significant growth in the demand of Self-service Bi solutions, further driving its market growth in the Retail & E-commerce industry during the forecast period.
Self-service Bi Market Segment Analysis – By Geography
Asia-Pacific is analysed to be the major region with a share of 34% in 2021 for the Self-service Bi Market owing to the rising adoption of automation solutions across various enterprises in this region. The Asia-Pacific manufacturing sector is currently facing the proliferation in adoption to digital technologies and the shift toward Industry 4.0 which is analysed to bring significant growth in the deployment of Self-service Bi solutions, further driving its market growth. For instance, according to the National Development and Reform Commission (NDRC), China’s investment in the high-tech manufacturing industry increased by 12% across various manufacturing units during the time period of January 2020 to August 2020. This increased in investment was attributed to adoption of automation solutions in manufacturing units. Moreover, increasing penetration of Self-service Business Intelligence solutions in Retail and E-commerce sector in this region is analysed to significantly drive its market growth in this region. For instance, according to NASSCOM, despite COVID-19 challenges and market disruptions, India’s e-commerce market continues to grow at 5%, with expected sales of $ 56.6 billion in 2021. This tend to affect significantly the adoption of Self-service Bi solutions, further propelling its market growth during the forecast period.
Self-service Bi Market Drivers
Rising government initiative to digitalize financial and retail sector is driving the demand of Self-service Bi Solutions
Rising government initiative to digitalize financial sector is one of most prominent factor driving the demand of Self-service Business Intelligence solutions during the forecast period. Various countries across the globe are investing significantly in the digitalisation to enhance their work efficiency and flexibility across financial institutions however, threat of data breaches is always a major concern which tend to drive the adoption of Self-service Business Intelligence solutions across various enterprises. For instance, Indian Government incorporated National Retail Policy which aimed to enhance the ease of doing business, rationalisation of the licence process, digitisation of retail, focus on reforms and an open network for digital commerce. Furthermore, in July 2020, NAventures, a corporate venture capital arm of National Bank of Canada announced their Series A funding of worth $11 million to Flinks, a data company that empowers businesses to connect their users with financial services to fuel the company’s growth in data connectivity and digitization in the financial services industry. These developments are analysed to bring significant impact in the growth of Self-service Bi Market during the forecast period.
Deployment of big data analytics solutions in Healthcare sector across the globe is propelling the Self-service Bi Market
Deployment of big data analytics in the Healthcare sector offers various applications such as risk and compliance management, fraud and security management, operations management and many others which is analysed to shift the conventional ecosystem of health infrastructure into smart healthcare ecosystem which is analysed to be a major driving factor for Self-service Bi Market. Digital transformation can help healthcare organizations by offering wider health ecosystem which provides improved ways of working, expands access to various services and aims to deliver a more effective patient and clinician experience. Healthcare organizations are in transition to health IT systems, powered by integration of cloud-based and big data analytics tools to enable real-time, smart digital health. For instance, In April 2020, IBM released novel AI-powered big data analytics technologies to help the Health and Research Community in accelerating the discovery of medical insights and treatments for COVID-19. This tend to bring huge impact in the demand of Self-service Business Intelligence solutions, further driving its market growth during the forecast period.
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Self-service Bi Market Challenges
High implementation cost and licensing complications is analysed to hamper the Self-service Bi Market growth
One of the most important factor restraining the market growth of Self-service Bi Market across the global is its high implementation cost. As the deployment of high performance Self-service business intelligence solutions is witnessing considerable growth in various industries such as BFSI, IT & telecommunication, Healthcare and other sectors, the cost of development and its integration with enterprise and working ecosystem tend to add up to the overall cost which tend to restrain its market growth across various end-use industries. Additionally, the price of implementing Self-service business intelligence is a major concern for small & medium sized business as the average price of self-service bi solution is around $720 annually. Small & Medium sized businesses face strict budget and resources, thus hampering its adoptability. Moreover, like other services falling offering business intelligence solutions, self-service BI is not necessarily the most efficient option, especially when the end-users independently choose different BI tools for wide range of end-use applications which lead to licensing complications for the deployment of self-service Bi solutions across various enterprises. Furthermore, deployment of Self-service Bi solutions across various enterprises requires a whole new cloud-based infrastructure which further comes at competitive prices which tend to hinder its market growth. These factors tend to bring major challenges in the Self-service Bi Market growth during the forecast period.
Self-service Bi Market Landscape
Production Innovation, Acquisitions, Collaboration, and R&D activities are key strategies adopted by players in the Self-service Bi Market. In 2021, the market of Service Delivery Automation Industry outlook has been fragmented by several companies. Service Delivery Automation top 10 companies include
International Business Machines Corporation
QLIK Technologies, Inc.
In July 2021, Zoho Corporation launched self-service business intelligence platform with built-in data preparation tools. The product combines the all-new DataPrep tool with an enhanced version of Zoho Analytics platform.
In June 2021, Tableau unveiled new AI and analytics-powered business intelligence solution, an additions to its platform designed to empower more people with the right technology to make smarter and faster decisions.
In September 2020, Altizon, a global industrial IIoT platform company launched theie all new Datonis BI (Business Intelligence) platform. It is a cloud-based business intelligence platform for data exploration and analysis. Datonis BI solves one of the key challenges for manufacturers by bringing operations data into a well-integrated business view, right from a browser.
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Increasing volume of cloud-based data and deployment of big data analytics across enterprises is analysed to significantly drive the Self-service Bi Market during the forecast period 2022-2027.
Fraud and security management segment are analysed to hold highest share 35.12% in 2021 owing to the increasing fraudulent activities across various organizations in last few years.
Retail & E-commerce industry are analysed to hold the highest market share 32.21% in 2021 owing to the various sales and marketing automation tools offered by deployment of Self-service Bi solution.
North America is analysed to hold the highest Self-service Bi Market share in 2021 owing to the early adoption of various automation solutions coupled with huge availability of big data analytics solutions in this region.
A. Business Intelligence Market
B. Business Intelligence and Analytics Software Market
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