Data Science Platform Market to grow by USD 249.15 billion between 2022 - 2027, Growth driven by high generation of data volumes - Technavio

NEW YORK, Oct. 13, 2023 /PRNewswire/ -- The Data Science Platform Market report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the data science platform market between 2022 and 2027 is USD 249.145 billion. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

The major driving factor for the global data science platform market is the high generation of data volumes. Since 2014, data volumes have exploded, and more data has been created. Business applications are generating enormous volumes of data, and this will continue throughout the forecast period and beyond. Further, the growing volume of data generated in organizations through multiple channels and sources has forced organizations to implement big data analytics and save a significant amount of cost for organizations. However, data analysts or scientists need to thoroughly analyze large amounts of data and convert insights into real-time action. For instance, a popular data science application such as big data analytics can be used for retrieving and analyzing data to discover significant weaknesses, develop indicator patterns to identify opportunities and threats; and optimize business decisions. Therefore, as data volumes are rising, the demand for data analytics is also growing, which is anticipated to boost the growth of the market during the forecast period. 

• Market Challenge - Increasing threats from open-source data science platform vendors is a major challenge that may impede the growth of the global data science platform market. The existence of many open-source data science platform vendors is one of the significant challenges for the global data science platforms market. Therefore, these factors have an adverse impact on the market share of data science platform vendors. Learn about additional key drivers, trends, and challenges available with Technavio. Read FREE Sample PDF Report Now

The data science platform market is segmented by Component (Platform and Services), Deployment (On-premise and Cloud), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• By component, the platform segment will be significant during the forecast period. Data science platforms that are considered the best usually offer the flexibility of open-source tools and the scalability of elastic computer resources. Alteryx Analytics, Microsoft Azure ML studio, SAS Visual Analytics, SAS Enterprise Miner, and the RapidMiner platform are some of the best data science platforms.
• By geography, North America at 39% is a major contributor to the market growth. View the FREE Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the Data Science Platform Market:

Alphabet Inc., Altair Engineering Inc., Alteryx Inc., Anaconda Inc., Cloudera Inc., Databricks Inc., Dataiku Inc., DataRobot Inc., Domino Data Lab Inc., International Business Machines Corp., Microsoft Corp., Oracle Corp., Rapid Insight Inc., RapidMiner Inc., Rexer Analytics, Rstudio PBC, SAS Institute Inc., The MathWorks Inc., Vista Equity Partners Management LLC, Wolfram

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Component

Market Segmentation by Deployment

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

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SOURCE Technavio