Overview and Scope
The data science platform is a software that are used to analyze, organize, and transfer to assist businesses in developing analytic models and managing analytic data Data analysis across multiple platforms can assist businesses in gaining insights from user data and marketing campaigns, ultimately assisting in the improvement of strategy and revenue.
Sizing and Forecast
The data science platform market size has grown exponentially in recent years. It will grow from $94.73 billion in 2023 to $122.82 billion in 2024 at a compound annual growth rate (CAGR) of 29.6%. The growth in the historic period can be attributed to demand for predictive analytics, regulatory compliance requirements, open source ecosystem growth, increasing data complexity, focus on data governance and privacy..
The data science platform market size is expected to see exponential growth in the next few years. It will grow to $361.44 billion in 2028 at a compound annual growth rate (CAGR) of 31.0%. The growth in the forecast period can be attributed to exponential growth in unstructured data, natural language processing (nlp) advancements, cross-functional collaboration platforms, democratization of data science.. Major trends in the forecast period include hybrid and multi-cloud deployments, integration with business intelligence , exponential increase in data science applications, continuous model monitoring and management, hyperautomation and process integration, collaborative model development and versioning..
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Segmentation & Regional Insights
The data science platform market covered in this report is segmented –
1) By Type: Solutions, Services
2) By Deployment: Cloud-Based, On-Premise
3) By End User: BFSI, Telecommunication, Transportation And Logistics, Healthcare, Manufacturing, Other End Users
North America was the largest region in the data science platform market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data science platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increase in demand for big data analytics is expected to propel the growth of the data science platform market during the forecast period. Big data analytics employs advanced analytic techniques to analyze a mixture of structured, semi-structured, and unstructured data collected by businesses and entities. Data science is the practice of extracting important information from data using advanced analytics techniques and scientific principles for enterprise decisions, strategic planning, and other purposes. For instance, according to Techjury, a US-based software company, the big data analytics sector is projected to reach $77 billion by 2023. Therefore, the increasing demand for big data analytics drives the data science platform market growth.
Key Industry Players
Major companies operating in the data science platform market report are Microsoft Corporation, Google LLC, International Business Machines Corporation (IBM), Oracle Corporation, Alteryx Inc., SAP SE, Teradata Corporation, TIBCO Software Inc., RapidMiner Inc., MathWorks Inc., SAS Institute Inc., Wolfram Research Inc., Dataiku Inc., Fair Isaac Corporation (FICO), Altair Engineering Inc., DataRobot Inc., Apheris AI GmbH, The Digital Talent Ecosystem, Anaconda Inc., Amazon Web Services Inc. (AWS), Cloudera Inc., Databricks Inc., Snowflake Inc., Accenture PLC, OpenText Corporation, Splunk Inc., Unified ID Inc., NVIDIA Corporation, Sumo Logic Inc., Sisense Inc., VMware Inc., Walmart Inc., JPMorgan Chase & Co., Ernst & Young (EY), Domino Data Lab Inc., WNS Global Services Pvt. Ltd., BRIDGEi2i Analytics Solutions Pvt. Ltd.
The data science platform market report table of contents includes:
1. Executive Summary
2. Data Science Platform Market Characteristics
3. Data Science Platform Market Trends And Strategies
4. Data Science Platform Market – Macro Economic Scenario
5. Global Data Science Platform Market Size and Growth
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31. Global Data Science Platform Market Competitive Benchmarking
32. Global Data Science Platform Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Data Science Platform Market
34. Data Science Platform Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
Microsoft Corporation, Google LLC
Oracle Corporation
Alteryx Inc
SAP SE
Teradata Corporation
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