Global Self-service Analytics Market Analysis
Self-service
analytics are a form of business intelligence (BI) which allows users to build
their own report by using the data at hand without any formal training. Various
ways of gathering data and its visualization for making informed business
decisions easily can lead to its adoption by enterprises. The global Self-service
Analytics Market report contains an examination of the software and its
scope for the period of 2016 to 2022 (forecast period). The COVID-19 pandemic
and its impact on the market are explored in depth in the report.
The global
self-service analytics market is expected to reach a market size of USD 10
billion by the end of forecast period with CAGR of 20% over the forecast
period.
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The need for astute
insights and the expanding competitive landscape among enterprises can drive
the demand for self-service analytics. The utilization of business intelligence
to gain the first mover advantage and launch a product-market fit early to
customers can fuel the market demand exponentially. Rise of complex data
structures, computing power, and lower prices of storage devices can propel the
market to new territories. The push for developers to include analytics within
software for user perusal and ability to create, manage, and share various
visualizations can attract clients.
The COVID-19
pandemic has restricted the movement of people and forced them to rely on
digital media. The rise in data traffic and use of advanced analytic software
for tracking the data and compiling them into reports is likely to increase.
Customer behavior and insight into customer engagement are expected to be
pivotal in driving future marketing stratagems using this data.
COVID-19 Impact on Self-Service Analytics Market at: https://www.marketresearchfuture.com/report/covid-19-impact-self-service-analytics-market
Segmentation
The global
self-service analytics market has been segmented on the basis of software tool,
service, company size, deployment, and industry.
The software tool
includes Tableau, SAS, Logi Analytics, Qlik and others.
By service, it
includes corporate IT professionals, business user, and consultants.
By company size, it
is segmented into large business and small and medium business.
By deployment, it
is divided into on premises and on cloud. The on cloud deployment is likely to
garner significant revenues for the market owing to benefits of combining data
on the cloud, rise of as-a-service models, and easier management of analytic
applications on the cloud.
By industries, it
is segmented into IT & telecommunication, BFSI, healthcare, retail, and
others.
Regional
Analysis
North America is
expected to continue being the largest revenue generating region for self-service
BI vendors for the next five years. This will be due to its high focus on
innovations obtained from research and development and technology followed by
Europe and APAC. The ability of self-service analytics to provide insights to
users while managing a gamut of data resources can drive the regional market
demand.
The APAC region is
expected to be the fastest growing region in the self-service analytics market
due to the increasing adoption of Internet of Things (IoT) and smart
technologies. The various government initiatives for its upcoming projects such
as smart cities across APAC countries including China and India can encourage
the growth of self-service analytics in the region.
Competitive
Outlook
TIBCO Software,
Alteryx, Vista equity partners, IBM Corporation, SAP SE, Crimson Hexagon,
MicroStrategy, SAS Institute, Tableau Software, Oracle Corporation, Splunk,
Syncsort, Microsoft Corporation, DrivenBI, and Concur Technologies are key
players of the global self-service analytics market. Innovation in data
analysis tools and implementation of new dashboard menus in SSA software are
new strategies used by players to gain clients.
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