New York, USA, Oct. 15, 2020 (GLOBE NEWSWIRE) -- The report states that the Global Data Science Platform Market is anticipated to garner $224.3 billion by 2026, growing at a striking growth rate of 31.1% from 2019 to 2026.
As per the report, the North America market is foreseen to surpass $80.3 billion by 2026 and dominate the market during the forecast period.
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Research Dive has added a new report to its offering titled, “Data Science Platform Market by Type (Solutions and Services) by End Use (Telecommunication, BFSI, Healthcare, Transport and Logistics, Manufacturing, and Others), Regional Outlook (North America, Europe, Asia-Pacific, LAMEA), Global Opportunity Analysis and Industry Forecast, 2019–2026”.
Key Segment Highlights of the Data Science Platform Market:
The market is segmented based on type, end user, and region.
• Among type segment, the service sub-segment is projected to perceive highest growth and hit $76.0 billion in the projected period. This is mainly due to growing adoption of service type data science platforms, as they help users in solving complexities in the operational field.
• Among end user segment, the BFSI (Banking, financial services, and insurance) sub-segment is projected to grow at a CAGR of 29.4% and lead the market growth during the projected period. This is mostly because data science helps banking, financial services, and insurance institutions in data analysis as well as fraud detection.
• Based on region, the North American region market is projected to grab leading market share by generating a revenue of $80.3 billion in the forecast period. This is mainly due to the increasing adoption of internet of things (IoT) and cloud technologies, which need data science tools for detecting and managing data, in the region.
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Data Science Platform Market Dynamics
As per the report, the growing adoption of data science tools for efficient management and analyzing of data and for taking predictive decisions in various business sectors is the key factor driving the global data science platform industry growth. Furthermore, use of data science tools for updating business procedures and acquiring new customers is fueling the market growth. However, lack of data science experts for handling complex issues and rising cases of data breaches are expected to obstruct the market growth.
Top Players of the Industry
1. Civis Analytics
2. Domino Data Lab Inc.
3. Databricks
4. Microsoft Corporation
5. Dataiku
6. Alphabet Inc. (Google)
7. Cloudera Inc.
8. Anaconda Inc.
9. Altair Engineering Inc.
10. IBM Corporation
Several winning business tactics and strategies, including revolutionary technological developments, R&D activities, acquisitions and mergers, partnerships, etc., undertaken by these players are helping them in accomplishing a remarkable position in the global market.
In addition, the report offers in-depth insights into the foremost players of the industry, such as company overview & financial status, annual performance, and product portfolio along with Porter Five analysis and SWOT analysis. Click Here To Get Absolute Top Companies Development Strategies Summary Report