Data science platform market
Data Science Platform Market, by Component (Platform and Services), by Deployment Type (On-premise, and Cloud-based), by Enterprise Size (SME’s and Large Enterprises), by Function (Marketing and Sales, Finance, Operations, and Others), by End-use Industry (Retail, Healthcare and Life Sciences, Banking, Financial Services, and Insurance (BFSI), Automotive, IT and Telecommunication, Construction, Aerospace, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
- Mar 2021
- CMI4417
- 130 Pages
- Excel & Pdf
- Information and Communication Technology
Data science is mainly focuses on extracting knowledge from the data sets, which are generally large in size. Data science involves pre-processing of data that include removal of unwanted data and errors for analysis and presenting the findings for making informed decision in the organization. Data science platform enables data scientists to plan future strategies and aids in making informed decisions based on previous data. Data science platform offers a flexible environment, enables organizations to incorporate data-driven decisions into operational and customer-facing systems to enhance business outcomes, and improve the customer experience.
The global data science platform market is expected to exhibit a CAGR of 29.8% during the forecast period (2020–2027). The market growth is majorly attributed to increasing volume of data and gaining access to organizational data from different departments across the organization is expected to drive the data science platform market. For instance according to the International Data Corporation (IDC), in the year 2018, the global datasphere was 33 zettabytes, and is expected to increase up to 175 zettabytes by the year 2025, which is expected to create a huge demand for data science platform for handling the data.
Figure 1. Global Data Science Platform Market Share (%), by Region (2017)
North America is expected to hold maximum market share in the global data science platform market in the year 2020 and is expected to retain its dominance over the forecast period. The growth in the North America market is attributed to the rising demand for IoT applications, cloud storage that are generating huge volume of data, which requires advanced data handling tools. For instance, according to Coherent Insights Market analysis, in the year 2018 the U.S. generated data of about 6.9 zettabytes, which is expected to rise up to 30.6 zettabytes by the year 2025. In addition, North America-based data science platform providers are working on the development of technologically advanced data science, which can process a large amount of data, and to improve the data handling capability of the organization. For instance, in February 2020, North America-based IT giant Oracle launched the new Oracle Cloud Infrastructure Data Science Service. This service will allow the team of data scientists to collaborate for the development, deployment, and maintenance of machine learning models, which in turn will increase the deployment speed of machine learning models of the organization.
Data Science Platform Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | USD 36.4 Bn |
| Historical Data for: | 2017 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 29.8% | 2027 Value Projection: | USD 293.2 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
ALTERYX, INC., Anaconda, Inc, BigML, Inc., DataRobot, Inc., Google, IBM, Microsoft, RapidMiner, Inc, RStudio, Inc., SAS Institute Inc., The MathWorks, Inc, and TIBCO Software Inc |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Global Data Science Platform Market - Impact of Coronavirus (Covid-19) Pandemic
Covid-19 has impacted the data science industry vastly. Many organizations using data science models for segmentation of their products or forecasting of sales have started to fail, owing to change in traffic and shopping patterns of the customer, interruption in the global supply chain, and lockdown in many countries, across the globe.
The COVID-19 cloud-based data science platform is playing a key role in stabilizing the business, adopting a new process, and predicting future outcomes based on data. Healthcare service providers are using data science platform for forecasting the need for hospital beds, masks, and ventilators, based on data of previously affected countries by the pandemic. In addition, data science platforms are utilized in the retail sector for analyzing point of sale data that in turn will help distributors to ship important items such as medical items, or food items accordingly.
Figure 2. Global Data Science Platform Market Share (%), By End-use Industry (2017)
In the year 2019, among end-use industry, BFSI segment accounted for highest share in the global market and is expected to retain its dominance over the forecast period. In the finance industry, data science is used for risk analytics, which helps the company for making better strategic decisions, increase trustworthiness among the customers, and for the security of the company. Moreover, data science can be used for consumer analytics with real-time analytics. Organizations can gain insights from consumer behavior, and can make appropriate business decision. Financial organizations such as insurance companies are using consumer analytics for increasing cross selling.
Some of the key players operating in the global data science platform market include ALTERYX, INC, Anaconda, Inc, BigML, Inc., DataRobot, Inc, Google, IBM, Microsoft, RapidMiner, Inc, RStudio, Inc, SAS Institute Inc, The MathWorks, Inc, TIBCO Software Inc., and others.
Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Component
- Market Snippet, By Deployment Type
- Market Snippet, By Enterprise Size
- Market Snippet, By Function
- Market Snippet, By End-use Industry
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Key Trend
- Merger and Acquisitions
- New system Launch/Approvals
- Value Chain Analysis
- Porter’s Analysis
- PEST Analysis
- Global Data Science Platform Market, By Component, 2017-2027 (US$ Million)
- Introduction
- Market Share Analysis, 2017 and 2027 (%)
- Segment Trends
- Platform
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- Services
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- Global Data Science Platform Market, By Deployment Type, 2017-2027 (US$ Million)
- Introduction
- Market Share Analysis, 2017 and 2027 (%)
- Segment Trends
- On-premise
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- Cloud-based
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- Global Data Science Platform Market, By Enterprise Size, 2017-2027 (US$ Million)
- Introduction
- Market Share Analysis, 2017 and 2027 (%)
- Segment Trends
- SMEs
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- Large Enterprise
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- Global Data Science Platform Market, By Function, 2017-2027 (US$ Million)
- Introduction
- Market Share Analysis, 2017 and 2027 (%)
- Segment Trends
- Marketing and Sales
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- Finance
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- Operations
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- Others
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- Global Data Science Platform Market, By End-use Industry, 2017-2027 (US$ Million)
- Introduction
- Market Share Analysis, 2017 and 2027 (%)
- Segment Trends
- Retail
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- Healthcare and Life sciences
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- Banking, Financial Services, and Insurance (BFSI)
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- Automotive
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- IT and Telecommunication
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- Construction
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- Aerospace
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- Others
- Introduction
- Market Size and Forecast, 2020–2027, (US$ Million)
- Global Data Science Platform Market, By Regions, 2017-2027 (US$ Million)
- Introduction
- Market Share Analysis, By Region, 2017 and 2027 (%)
- North America
- Regional Trends
- Market Size and Forecast, By Component, 2017–2027 (US$ Million)
- Market Size and Forecast, By Deployment Type, 2017–2027 (US$ Million)
- Market Size and Forecast, By Enterprise Size, 2017–2027 (US$ Million)
- Market Size and Forecast, By Function, 2017–2027 (US$ Million)
- Market Size and Forecast, By End-use Industry, 2017–2027 (US$ Million)
- Market Share Analysis, By Country, 2017–2027 (%)
- U.S.
- Canada
- Europe
- Regional Trends
- Market Size and Forecast, By Component, 2017–2027 (US$ Million)
- Market Size and Forecast, By Deployment Type, 2017–2027 (US$ Million)
- Market Size and Forecast, By Enterprise Size, 2017–2027 (US$ Million)
- Market Size and Forecast, By Function, 2017–2027 (US$ Million)
- Market Size and Forecast, By End-use Industry, 2017–2027 (US$ Million)
- Market Share Analysis, By Country, 2017 and 2027 (%)
- UK
- Germany
- Italy
- France
- Russia
- Rest of Europe
- Asia Pacific
- Regional Trends
- Market Size and Forecast, By Component, 2017–2027 (US$ Million)
- Market Size and Forecast, By Deployment Type, 2017–2027 (US$ Million)
- Market Size and Forecast, By Enterprise Size, 2017–2027 (US$ Million)
- Market Size and Forecast, By Function, 2017–2027 (US$ Million)
- Market Size and Forecast, By End-use Industry, 2017–2027 (US$ Million)
- Market Share Analysis, By Country, 2017 and 2027 (%)
- China
- Singapore
- Japan
- Rest of Asia Pacific
- Latin America
- Regional Trends
- Market Size and Forecast, By Component, 2017–2027 (US$ Million)
- Market Size and Forecast, By Deployment Type, 2017–2027 (US$ Million)
- Market Size and Forecast, By Enterprise Size, 2017–2027 (US$ Million)
- Market Size and Forecast, By Function, 2017–2027 (US$ Million)
- Market Size and Forecast, By End-use Industry, 2017–2027 (US$ Million)
- Market Share Analysis, By Country, 2017 and 2027 (%)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East and Africa
- Regional Trends
- Market Size and Forecast, By Component, 2017–2027 (US$ Million)
- Market Size and Forecast, By Deployment Type, 2017–2027 (US$ Million)
- Market Size and Forecast, By Enterprise Size, 2017–2027 (US$ Million)
- Market Size and Forecast, By Function, 2017–2027 (US$ Million)
- Market Size and Forecast, By End-use Industry, 2017–2027 (US$ Million)
- Market Share Analysis, By Country, 2017 and 2027 (%)
- GCC Countries
- Africa
- Rest of Middle East and Africa
- Competitive Landscape
- Company Profiles
- ALTERYX, INC
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Anaconda, Inc
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- BigML, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- DataRobot, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- IBM
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Microsoft
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- RapidMiner, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- RStudio, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- SAS Institute Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- The MathWorks, Inc
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- TIBCO Software Inc
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Others
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Analyst Views
- Section
- References
- Research Methodology
- About us and Sales Contact
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