Self-Service BI Market Size Skyrockets as Cloud-Based Solutions Gain Popularity | Reaching USD 14.19 Billion by 2026

Self-service BI market size was estimated to be $4.73 billion in 2018 and is anticipated to rise to $14.19 billion by 2026, with a predicted CAGR of 14.8% between 2019 and 2026.

During the forecast period, a number of key factors, including the proliferation of data analytics and an increase in the adoption of business intelligence tools, are anticipated to propel the global market's expansion. Another significant element anticipated to propel market expansion in the next years is the increased attention on data-driven decision making modelling among firms that are flourishing to obtain insights from data analytics without prior understanding.

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The self-service business intelligence (BI) market has been experiencing significant growth in recent years, driven by several key factors. One of the primary drivers is the increasing need for companies to access and analyze their data quickly and efficiently. With the ever-increasing volume of data being generated by organizations, self-service BI tools enable non-technical users to extract insights from this data without relying on IT or data science teams.

Another important driver is the rise of cloud computing, which has made it easier for companies to store and process large amounts of data. Self-service BI tools that are cloud-based are becoming increasingly popular as they allow users to access and analyze data from anywhere, at any time, using only an internet connection.

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In addition, the growing demand for real-time data analysis has fueled the growth of self-service BI. Businesses need to be able to respond quickly to changing market conditions, and self-service BI tools provide the ability to analyze data in real-time, allowing businesses to make data-driven decisions more quickly.

Finally, the trend towards democratization of data has also contributed to the growth of self-service BI. With self-service BI tools, non-technical users can access and analyze data without relying on IT or data science teams. This empowers business users to make data-driven decisions, which can lead to increased efficiency and better business outcomes.

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Some of the key market players profiled in the report include IBM Corporation, Microsoft Corporation, MicroStrategy Incorporated, Oracle Corporation, Qlik Technologies, Inc., SAP SE, SAS Institute Inc., Tableau Software, TIBCO Software Inc., and Zoho Corporation Pvt. Ltd. Major players operating in this market have witnessed high growth in demand for self-service BI, especially due to proliferation of BI tools for diverse applications among various industry verticals. This study includes market analysis, trends, and future estimations to determine the imminent investment pockets.

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