Data Science Platform Market Research Report – Global Forecast to 2023
A data science platform is a setup of the entire life cycle of a data science project. Data science platform embraces all the tools needed for implementing the lifecycle of the data science project spanning throughout different stages such as integration, data ideation, implementation, model deployment, and model development. Data science platform requires organizations to improve their study by assisting them track, run, share, deploy, and reproduce analytical models faster. In general, all these activities need a lot of engineering effort and are complex to maintain and build analytical models. Data science platforms offer the data science teams a leg up in the race of rivalry to leverage analytics efficiently.
The worldwide data science platform market is being propelled by aspects like global rapid progressions in big data technologies, requirement for ease of technological applications to drive business effectiveness, and demand for big data analysis to obtain deeper insights into customer buying patterns. Data science platform assist in facilitating a surged level of association throughout business analysts, data scientists, developers, and data engineers, in different fields of work. Data Science platforms aid the organizations to create data, operationalize analytics, and build models. The depth of competition in the worldwide data science platform market is average. With the rise of new data science technologies, sellers are either improving their products in line with the transforming end user needs or aggressively involving into inorganic and organic growth tactics in the worldwide market. The key influencing aspects of the data science platform market encompass realization of significance of data science by firms, data explosion, expansion in data analysis & collection from mobile devices, expansion of big data technologies, increasing concern of data protection & security, and increased initial investments. These aspects are significantly contributing to the development of the data science platform market and are expected to affect the market growth throughout the assessment period. The worldwide data science platform market is projected to develop up to USD 115 bn with a CAGR of 29% over the estimation period.
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The market for worldwide data science platform market is segregated on the basis of deployment model, business function, region, and vertical. Business function is sub segmented into sales, marketing, customer support, human resources, logistics, risk management, operations, and many more. On the basis of deployment, the segment is sub classified into on-premise and on-demand. The worldwide data science platform embraces a wide area of verticals such as retail, BFSI, IT, healthcare, energy, transportation, government, defense, utilities, and many more.
The geographic segmentation of the global data science platform market classifies the market into continent-based regional markets such as Europe, North America, Asia Pacific, and the rest of the world (RoW). Throughout the estimation period, the North America market is estimated to represent the largest market share. This is owing to the presence of several capital-intensive sectors across the region. Enterprises are encompassing data science platform as the revered framework that assists in scoring a competitive edge in the industry. Many prominent players of the market are based in North America, specifically in the United States of America (USA), the largest economy in this region. Other key country-specific markets in this market are Mexico and Canada. RoW segment embraces Middle East & Africa (MEA) and Latin America region. In Latin America, the market is restricted due to limited technological progressions.
The key players in the worldwide data science platform market consists of Continuum Analytics Inc. (USA), Alteryx Inc. (USA), DataRobot Inc. (USA), Dataiku (France), Google, Inc. (the USA), Domino Data Lab (USA), Microsoft Corporation (USA), IBM Corporation (USA), Sense Inc. (USA), Wolfram (USA), and RapidMiner Inc. (USA).
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Global data science platform market research report: by business function (marketing, sales, logistics, human resources), deployment (on-demand, on-premises), vertical (BFSI, healthcare, retail, IT, transportation) – Forecast till 2023
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