The self-service Business Intelligence (BI) market size is expected 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% during the forecast period. The major growth drivers of the self-service BI market include ease of use for non-technical staff, increasing need for in-depth competitive insights, and expanding volume of business data.

The self-service BI market is segmented by software and service. The services segment is expected to grow at the highest CAGR during the forecast period. Among all the services, consulting services in the professional services segment is projected to witness the highest demand due to the growing need of self-service BI software solutions across organizations.

BFSI holds the largest share of the self-service BI market in 2016. The growth is fueled by the growing need of people to simplify their workload related to security and their increasing dependence on data generated from various IT systems used for financial transactions. The healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period due to the increasing need to store and manage data coming from various connected healthcare devices and health record systems used across healthcare organizations.

The major business functions for which the self-service BI is deployed are marketing, sales, operations, finance, and human resources. The adoption of self-service BI for operations is expected to increase significantly in the coming years because of the increasing need for resolving operations related issues in real time and the need for streamlining operations across industries.

Organizations are deploying self-service BI solutions either on their premises or on demand. The demand for on-demand or cloud-based self-service BI solutions is increasing due to its cost-effective and time-efficient features; its growth is specifically high in Small and Medium Enterprises (SMEs), where low-cost solutions are greatly required.

The global market has been segmented on the basis of regions into North America, Asia-Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America to provide a region-specific analysis in the report. The North American region, followed by Europe, is expected to continue being the largest revenue generating region for self-service BI vendors for the next five years. This is mainly because in the developed economies of the U.S. and Canada, there is a high focus on innovations obtained from research and development and technology. The APAC region is expected to be the fastest growing region in the self-service BI market because of the increasing adoption of Internet of Things (IoT) and smart technologies and various government initiatives such as smart cities across APAC countries including China and India.

The faces challenges such as Security & privacy concerns, reluctance in the investment in new technologies, and lack of transformation in organization are some of the challenges for the self-service BI market. Factors such as high investment coasts and lack of proper data governance process are expected to limit the market growth.

Major vendors that offer self-service BI software and services globally are Microsoft Corporation (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), SAS Institute (U.S.), Tableau Software (U.S.), MicroStrategy (U.S.), TIBCO Software (U.S.), Qlik Technologies (U.S.), and Zoho Corporation (U.S.). These vendors have adopted different types of organic and inorganic growth strategies such as new product launches, partnerships & collaborations, and mergers & acquisitions to expand their offerings in the self-service BI market.

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