Data Science Platform Market Size, Application Analysis, Regional Outlook, 2017 - 2023

Market Highlights:

A data science platform is defined as a framework of the entire life cycle of a data science project. Market Research Future (MRFR) has published a research report about the global data science platform market that predicts growth for the market during the forecast period between 2017 and 2023. In terms of cash, the market is expected to be worth the US $ 115 bn during the forecast period.

The factors that contribute to the growth of global data science platform market include advancement of big data technologies, data explosion, demand for big data analysis to gain deeper insights into consumer buying patterns, global rapid advancement in big data technologies, growing concern of data security & protection, increase in data collection & analysis from mobile devices, and realization of importance of data science by organizations.

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Major Key Players

• Microsoft Corporation (U.S.),


• IBM Corporation (U.S.),


• Google, Inc. (U.S.),


• Wolfram (U.S.),


• DataRobot Inc. (U.S.),


• Sense Inc. (U.S.),


• RapidMiner Inc. (U.S.),


• Domino Data Lab (U.S.),


• Dataiku (France),


• Alteryx, Inc. (U.S.),


• Continuum Analytics, Inc. (U.S.)

According to MRFR, The global Data Science Platform Market is estimated to grow up to USD 115 billion with a CAGR ~ 29% through the forecast period.

Latest Industry News

• RapidMiner™, the leading data science platform for analytics teams, has launched the RapidMiner Artificial Intelligence (AI) Cloud, a unified Software as a Service (SaaS) platform that has been designed to make it easy for teams to build, train, manage, and deploy predictive models in the cloud. 11 OCT 2018


• Generally associated with autonomous vehicles. deep learning, and other higher-end enterprise and scientific workloads, and gaming, Graphics processing unit (GPU) leader Nvidia, is mounting an open source end-to-end GPU acceleration platform and ecosystem directed at data analytics and machine learning, domains heretofore within the CPU realm. 10 OCT 2018

Key Findings

First a real estate from Durham, using data science and machine learning to help real estate agents. Their SaaS platform analyzes over 700 personal factors such as demographics, income changes, and purchasing behavior and life events of every agent’s contact and cross-references them against national averages. The resulting seller score indicates how likely they are to sell their home, helping agents know exactly when to reach out for the best chance at landing a deal.

Veritone, Inc., a leading provider of artificial intelligence (AI) and cognitive solutions, has acquired the advanced data analytics software and related intellectual property (IP) assets of Atigeo Corporation.

American Family Insurance is accelerating its use of data through advanced analytics and artificial intelligence (AI) with its purchase of Chicago-based data and analytics software company Networked Insights.

Regional Analysis

The regional segmentation of the global data science platform market segments the market into continent-based regional markets namely North America, Europe, Asia Pacific, and the rest of the world (RoW). During the forecast period, the North American market is expected to hold the largest market share. This is because many capital-intensive industries are present across the region. Enterprises are embracing data science platform as the revered platform that helps to score a competitive edge in the marketplace. Many key players of this market are based in North America especially in the United States of America (USA), the biggest economy in this region. Other important country-specific markets in this region are Canada and Mexico.

Europe is another significant market because, after North America, Europe is the most technologically advanced region. The most important country-specific markets in this region include France, Germany, Italy, Spain, and the United Kingdom (UK). During the forecast period, the Asia Pacific region has been anticipated to emerge as the fastest growing market. Factors aiding the market growth in this region include digitalization, industrialization, and several smart city initiatives by the governments of various countries in this region. The significant country-specific markets in this region are China, India, and Japan, followed by the rest of Asia Pacific.

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RoW segment covers Latin America and Middle East & Africa (MEA) region. In Latin America, the market is limited due to limited technological advancement. Economies in this region that have the potential to emerge as strong markets are Argentina and Brazil. In the MEA region, the market is small and limited. Reasons for the limited market growth in this region are lack of awareness, lack of education, lack of technological development, and political instability. 

Segmentation

The global data science platform market has been segmented on the basis of business function, deployment model, vertical and region. Based on business function, this market has been segmented into customer support, human resources, logistics, marketing, operations, risk management, sales, and others. On the basis of deployment model, the market has been segmented into on-demand deployment and on-premise deployment. As per the vertical-based segmentation, the market has been segmented into Banking, Financial Services and Insurance (BFSI), defense, energy & utilities, government, healthcare, Information Technology (IT), retail, transportation, and others.

Intended Audience

• Independent Software Vendors


• Business Analytics Software Providers


• IT Service Providers


• Cloud Service Providers


• System Integrators


• Application Design and Software Developers

LIST OF TABLES

Table 1 Global Data Science Platform Market: By Region, 2017-2023

Table 2 North America Data Science Platform Market: By Country, 2017-2023

Table 3 Europe Data Science Platform Market: By Country, 2017-2023

Table 4 Asia-Pacific Data Science Platform Market: By Country, 2017-2023

Table 5 Middle East & Africa Data Science Platform Market: By Country, 2017-2023

Continued…

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LIST OF FIGURES

FIGURE 1 Global Data Science Platform Market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Five Forces Analysis of Global Data Science Platform Market

FIGURE 4 Value Chain of Global Data Science Platform Market

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