LONDON, Nov. 16, 2016 /PRNewswire/ -- SELF-SERVICE BI MARKET – GLOBAL FORECAST TO 2021 REPORT DESCRIPTION 2
"Ease of use and massive surge in the volume of business data is driving the growth"
MarketsandMarkets estimates the global self-service Business Intelligence (BI) market to grow from USD 3.61 billion in 2016 to USD 7.31 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 15.2%. The self-service BI market is growing rapidly because of the transition from traditional BI techniques to advanced BI and analytics techniques, which can be managed and utilized even without any help from the IT and data science teams, and the massive surge in the volume of business data across industry verticals. Factors such as high investment coasts and lack of proper data governance process are expected to limit the market growth.
"Sales business function to have the largest market size in 2016"
Organizations across industry verticals are using various tools and systems to collect internal data for analyzing the performance of sales people and external data for analyzing sales performance at regular intervals and also in real time. Therefore, sales departments face challenges in integrating these technologies for obtaining value from all these data sets. Self-service BI helps the sales department in resolving these issues even without any help from the IT team or data scientists, allowing them to generate insights as per their convenience. Hence, sales is estimated to have the largest market share in 2016 among all business functions.
"Healthcare and life sciences vertical to have the highest growth rate during the forecast period"
Self-service BI solutions have been deployed across various industry verticals, including BFSI, telecommunication & IT, retail & e-commerce, manufacturing, healthcare & life sciences, energy & utilities, transportation & logistics, media & entertainment, government & defense, and others. The healthcare & life sciences industry vertical is expected to witness the highest CAGR during the forecast period because of the increasing need for managing real-time data of various healthcare activities including patients' sleep analysis, calories burnt based on physical activities conducted, and so on.
"North America is expected to hold the largest market share"
North America, followed by Europe, is expected to continue being the largest revenue generating region for the self-service BI vendors for the next five years. This is mainly due to the presence of various developed economies such as Canada and the U.S. and the high focus on innovations through research and development and technology across industry verticals in the region. APAC is expected to be the highest growing region in the self-service BI market because of the increasing adoption of Internet of Things (IoT) and smart technologies and government initiatives such as smart cities in APAC countries including China and India.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the self-service BI marketplace.
- By Company Type: Tier 1: 22%, Tier 2: 30%, and Tier 3: 48%
- By Designation: C-Level: 30%, Director Level: 45%, and Others: 25%
- By Region: North America: 48%, Europe: 30%, APAC: 22%
The self-service BI ecosystem comprises the following major vendors:
1. Microsoft Corporation (U.S.)
2. IBM Corporation (U.S.)
3. Oracle Corporation (U.S.)
4. SAP SE (Germany)
5. SAS Institute (U.S.)
6. MicroStrategy (U.S.)
7. Tableau Software (U.S.)
8. TIBCO Software (U.S.)
9. Qlik Technologies (U.S.)
10. Zoho Corporation (U.S.)
Scope of the report
The self-service BI market revenue is primarily classified into revenues from software and revenues from services. The software revenue is associated with standalone software offerings. The services revenue is associated with managed services and professional services. The professional services comprise deployment & integration, support & maintenance, and consulting services. The market is also segmented by business functions, applications, deployment models, industry verticals, and regions.
Reasons to buy the report
- To get a comprehensive overview of the global self-service BI market
- To gain wide ranging information about the top players in this market sphere, their product portfolios, and the key strategies adopted by them
- To gain insights about the major countries/regions in which the self-service BI market is flourishing in various industries
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