Self-Service Analytics Market to Register a CAGR of 16.86% during 2024-2032

Press release/- Market Research Future Published a Half-Cooked Research Report on  Self-Service Analytics Market Research Report

The global self-service analytics software market is poised to capture an impressive CAGR of 16.86% over the forecast period of 2024-2032, projects Market Research Future (MRFR) in a detailed research report. Enterprises are increasingly embracing self-service analytics to bring capabilities to business users of all levels. High demand for analytics in data interpretation is one of the preliminary factors driving the growth of the self-service analytics market. Business is increasingly shifting towards self- service analytics from the traditional business intelligence tools which makes them concentrate on more strategic concerns. Colossal amounts of data which are heterogeneous in nature and come from multiple sources are complex and unstructured which requires advanced analytics to gain deep business insights. The dearth of analytics experts is a significant factor driving the growth of the market. By leveraging self-service analytics, analysts can be freed from servicing basic requirements, and it also helps in reduction of high value-high cost resources. Expanding volumes of business data and the need for in-depth business insights drive the global self-service analytics market. On the downside, factors such as privacy and security concerns, the high cost of deployment, and lack of proper data are restraining the growth of the market.

Segmentation

The global self-service analytics market has been segmented based on software tool, service, company size, deployment, and industry. By software tool, the market has been segmented into Tableau, SAS, Logi Analytics, Qlik, and others. By service, the market has been segmented into Business user, Consultants, and Corporate IT Professionals. By company size, the market has been segmented into Large Business, Small and Medium Business. By deployment, the market has been segmented into on-premises and on-cloud. By industries, the market has been segmented into BFSI, healthcare and retail, IT& Telecommunication and others.

Regional Analysis

The key markets of the global self-service analytics market include North America, Europe, Asia Pacific, and the Rest of the World. North America is dominating the global self-service analytics market. Early adoption of latest technologies, the concentration of major players in the region, and a well-developed IT sector in the region support the growth of the market. Europe is the second largest market owing to high focus on innovations obtained from R&D. Asia Pacific market for self-service analytics is expected to exhibit high growth over the forecast period due to the rapid adoption of latest technologies across various industry verticals.

Competitive Landscape

The global self-service analytics market is marked by the presence of key players including DrivenBI (U.S), Tableau Software (U.S), MicroStrategy (U.S), Vista equity partners (U.S), IBM Corporation (U.S.), SAP SE (Germany), Oracle Corporation (U.S.), Concur Technologies (U.S), TIBCO Software (U.S.), Crimson Hexagon (U.S), Syncsort (U.S), Alteryx (U.S), SAS Institute (U.S), Splunk (U.S), and Microsoft Corporation (U.S.). The global self-service analytics market is highly competitive where the key players are leveraging various strategies such as mergers, acquisitions, product launches, and others to sustain the intense competition in the market.

Industry Updates      

• In September 2018, LinkedIn, a professional networking company, launched its first self-service analytics product named 'Talent Insights'. The new analytics tool is accessible across various regions, industries and levels within an organization.

• In September 2018, TriNetX, a global health research network, showcased a new self-service precision medicine analytics for the research community.