According to IMARC Group’s latest report, titled “Data Science Platform Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global data science platform market size reached US$ 6.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 36.5 Billion by 2027, exhibiting a growth rate (CAGR) of 32.64% during 2022-2027.
Year Considered to Estimate the Market Size:
- Base Year of the Analysis: 2021
- Historical Period: 2016-2021
- Forecast Period: 2022-2027
The data science platform consists of a set of new generation architecture and technologies that are designed as a framework of a data science project. It offers advanced tools, such as integration and exploration, data ideation, model deployment, and model development, which are required to execute the life cycle of the data science project. The platform also enables the data scientists to discover actionable insights of data, plan the strategy, and communicate the strategy to the enterprise within a single environment.
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Market Trends:
The global data science platform market is primarily driven by the increasing usage of large amounts of unstructured and structured data across the end-use industries. In line with this, the widespread adoption of ease-of-use methods to accelerate the business operations is acting as another major growth-inducing factor. Additionally, the rising need to extract in-depth insights from data to gain a competitive edge and significant technological advancements are other factors driving the market growth. Apart from this, the inclination of the enterprises to adopt data-intensive business strategies is creating a positive outlook for the market.
Data Science Platform Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the data science platform market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Alteryx Inc.
- Cloudera Inc.
- Dataiku Inc.
- Google LLC (Alphabet Inc.)
- H2O.ai Inc.
- International Business Machines Corporation
- Microsoft Corporation
- RapidMiner Inc.
- SAP SE
- SAS Institute Inc.
- The MathWorks Inc.
- TIBCO Software Inc.
Key Market Segmentation:
The report has segmented the global data science platform market based on component, application, vertical and region.
Breakup by Component:
Breakup by Application:
- Marketing and Sales
- Logistics
- Finance and Accounting
- Customer Support
- Others
Breakup by Vertical:
- IT and Telecommunication
- Healthcare
- BFSI
- Manufacturing
- Retail and E-Commerce
- Others
Breakup by Region: