Data science is an advanced computing solution platform that leverages numerous algorithms and tools to analyze big data. The data science platform is majorly used for various purposes such as data integration & exploration, data ideation, model deployment and development, and others. Besides, it further helps in simplifying and easing the process of application program interfaces and interactive applications to approve clients and operationalize results.
The global data science platform market size is anticipated to reach over USD 178 Billion by 2025. This can be attributed to the rising need to extract insights from huge volumes of unstructured and structured data. Also, the increasing demand from enterprises and rising need to make business processes more efficient in boosting the global data science platform market growth.
However, the increasing stringency of government regulations and rules is expected to hamper the market growth. Moreover, the increasing need for data security, reliability, and privacy concerns are expected to create lucrative opportunities for the market in the upcoming years.
Key Segments of the Global Data Science Platform Market
Platform Overview, 2018-2025 (USD Billion)
- Professional Services
- Managed Services
Application Overview, 2018-2025 (USD Billion)
- customer support
- Human resource
Industry vertical Overview, 2018-2025 (USD Billion)
- IT & Telecom
- Government & Defense
Regional Overview, 2018-2025 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global data science platform market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global data science platform market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the penetration testing industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on platform, application, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global data science platform market. The report will benefit: Every stakeholder involved in the Data Science Platform Market.
- Managers within the penetration testing industry looking to publish recent and forecasted statistics about the global data science platform market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global data science platform market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Globally the data science platform market is experiencing major traction due to growing volumes of structured as well as unstructured data. Many organizations across numerous industry verticals are leveraging data science software and solutions to get insights from data to develop various business strategies and gain the competitive upper hand in the global market. The data science platform market has tremendous opportunities across emerging markets such as South America and Middle East & Africa. There are various markets in these regions that are still untapped and anticipated to provide lucrative opportunities for market growth in forthcoming years.
Based on the platform segment, the market is divided into solutions and services. The services segment is further classified into professional services and managed services. In 2019, the solutions segment gathered the highest market revenue and it is anticipated to govern the data science platform market throughout the forecast period. However, the services segment is expected to gather the highest growth rate throughout the forecast period. The growth of this segment is primarily attributed to the growing deployment of the data science platform.
Based on the application, the market is segmented into logistics, marketing, sales, customer support, human resource, and others. The marketing segment dominated the market in 2019 and it is projected to maintain its position throughout the forecast period. However, the customer support segment is anticipated to experience the highest market growth in the forthcoming years.
Industry Vertical Segment
Based on industry vertical, the market is bifurcated into IT & Telecom, BFSI, retail, healthcare, government & defense, and others. In 2019, the BFSI segment gathered the highest market revenue and it is anticipated to dominate the data science platform market throughout the forecast period. The dominance of this industry is mainly attributed to the growing usage of data science platforms for risk assessment, marketing analytics, fraud analytics, and other purposes in banking processes. On the contrary, the IT & Telecom industry is expected to gather the highest growth rate throughout the forecast period.
The Asia-Pacific region is anticipated to gather the highest growth during the forecast period. The growth of this region is mainly accredited to the large customer base and developing infrastructure for industries such as healthcare, IT & Telecom, and other industries in this region. The North America region dominated the overall market in 2019 and it is expected to maintain its position throughout the forecast period 2020-2025. The dominance of this region mainly attributed to the presence of major market players such as IBM, Microsoft, Google, and others in this region.
The major players of the global data science platform market are Microsoft, IBM, Google, MathWorks, Cloudera, Altair Engineering, SAS, Wolfram, Alteryx, and SAP. Moreover, the other potential players in the data science platform market are RapidMiner, Dataiku, Civis Analytics, Databricks, and Anaconda. The recognized companies are coming up with innovative and new entertainment technologies and solutions. For instance, in January 2019, Hortonworks, a data software company merged into Cloudera, a US-based Software Company. With this merger, the company announced the availability of Cloudera Data Science Workbench (CDSW) on the Hortonworks Data Platform (HDP), which would allow customers to enhance new data product delivery along with the security.