Data Science Platform Market:Top Industry Segments and Growth Opportunities by 2024

The basic task of the data science platform is to find and analyze the work that was done in the past, making the job of the data scientists easier. The data science platform helps in exploring data that is present in the large machines without requiring any infrastructure setup or DevOps; it also aids in using the new packages and tools seamlessly. To be precise, data science platform is a combination of data analysis, statistics, and the techniques that help in understanding the data.

The market study covers the present scenario and growth prospects of the global data science platform market for 2016-2024. The report also lists product types, application, devices & geography, as the four major application segments, of which data science platform accounted for the high demand of the market share in 2016.

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The global data science platform market is segmented into the business function, deployment model, and vertical. On the basis of the business function, the global market is segregated into sales, risk, human resources, marketing, logistics, customer support, and operations. Based on the deployment model, the market is categorized into on-demand and on-premises. The different verticals where we find the data science platform being implemented are healthcare and life sciences, retail and consumer goods, manufacturing, energy and utilities, banking, financial services, and insurance (BFSI), information technology and telecom, media and entertainment, transportation and logistics, government and defense, and others.

For the growth of the business the organizations require processors that can make the data simple in order to take lucrative actions; this is the key reason why the organizations are adopting the data science platform. The increased utilization of the artificial intelligence, machine learning, public cloud, Internet of things (IoT) applications, etc has increased the demand of the data science platform market. Furthermore, the development of the big data technologies has also triggered the market growth. Depending on the business function, the logistics segment acquires the largest market share in the global data science platform market. Based on the deployment model the on-demand segment owns a major market share due to the ease of deployment, low cost of operation, and improved scalability and integration. The factors that are hampering the market growth are the concerns related to reliability and the government rules and regulations.

Regionally, the data science platform market is diversified into regions such as North America, Asia-Pacific, Europe, and Rest of the World. The region that dominated the data science platform market is North America. The reason for this dominance is the presence of the major market players and numerous numbers of organizations in the region which have always taken the initiative in adopting new technologies in their organizations. Asia-Pacific region is expected to overtake the other regions in terms of growth rate owing to the factors such as policy support for greater digitalization, swift pace of industrialization, foreign direct investments, and smart city initiatives of different governments. The countries that are mainly driving the data science platform market are India, New Zealand, China, and Australia.

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The major market players in the data science platform market include IBM, Microsoft Corporation, RapidMiner Inc., Dataiku, Continuum Analytics, Inc., Domino Data Lab, Wolfram, Sense Inc., DataRobot Inc., and Alteryx, Inc.

Global Data Science Platform Market: Regional Segment Analysis

· North America

o The U.S.

· Europe

o UK

o France

o Germany

· Asia Pacific

o China

o Japan

o India

· Latin America

o Brazil

· The Middle East and Africa

What Reports Provides

· Full in-depth analysis of the parent market

· Important changes in market dynamics

· Segmentation details of the market

· Former, on-going, and projected market analysis in terms of volume and value

· Assessment of niche industry developments

· Market share analysis

· Key strategies of major players

· Emerging segments and regional markets

· Testimonials to companies in order to fortify their foothold in the market.

Source: Zion Market Research

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