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
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.
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.
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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