Farmington, March 09, 2023 (GLOBE NEWSWIRE) -- The Data Science Platforms Market Size Was Estimated At USD 96.3 Billion In 2021, And It Is Expected To Hit Around USD 378.7 Billion By 2030, Poised To Grow at a CAGR Of 16.43% Over The Forecast Period 2022 To 2030. As more money is put into research and development, technology is developing quickly. As businesses grow, they need more and more technology that can help them to more productive and efficient. Software and platforms are being used more and more because of technological advances like artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT). Advanced tools and platforms for processing data are helping businesses grow a lot as the amount of data they have to deal with grows every day.
One of the most popular types of software in use today is a platform for data science. This software has a number of advanced analytics and machine learning techniques. It gives data scientists the chance to build skills, find insights in data, and share what they've learned through solo projects. Data science projects are made up of different tools that are made for each step of the data modelling process.
Today, more and more people are using platforms for data science. This software gives you open-source tools that are very flexible and can be used with a wide range of computer resources. It is also easy to fit into different data architectures. Also, the platform has version control, which lets data science groups work together on projects without losing work that was just finished. These benefits are making a big difference in the growth of the market.
Request Sample Copy of Report “Data Science Platform Market Size, Share & Trends Estimation Report By Component (Platform, Services {Professional Services, Managed Services}, Support and maintenance, Consulting, Deployment and Integration), By Type (Cloud, On-premise, By Application:, Marketing, Sales, Logistics, Finance & Accounting, Customer Support, Others), By Industry Vertical (BFSI, Retail & eCommerce, Telecom & IT, Media & Entertainment, Healthcare & Life Sciences, Government & Defense, Manufacturing, Transportation & Logistics), By Region, And Segment Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
Recent Developments:
- November 2021, IBM updates IBM SPSS Modeler 18.2.2. The new update comes with a sophisticated and versatile data mining workbench that allows users to easily and easily develop accurate predictive models without programming.
- In May 2021, Google updates Google Vertex AI, a newly managed ML platform on Google Cloud. The platform is designed to make it easier for developers to deploy and maintain AI models. It's an unusual announcement from Google I/O, which is usually focused on mobile and web developers and doesn't usually feature much Google Cloud news, but the fact that Google has chosen to unveil Vertex today means that this new service has a broad spectrum of developers.
Market Dynamics:
Trends:
AI and machine learning are gaining more and more attention. As AI and machine learning are used more, data science platforms are becoming more important.
Big data is growing so quickly that companies are looking for platforms that can handle large amounts of data and give real-time insights.
Platforms in the cloud: Because cloud computing has become so popular, more and more data science platforms are being built in the cloud. These platforms give businesses more freedom and room to grow.
Open source technologies: Many data science platforms, like R and Python, are built on open source technologies, which give users more freedom and the ability to make their own changes.
Drivers:
Business intelligence and analytics: The growing need for business intelligence and analytics is driving the growth of the market for data science platforms.
Need to decide things better: Companies are looking for data science platforms that will help them make better decisions as the business world gets more complicated.
Predictive analytics are becoming more popular because companies are using them to guess how customers will act, predict sales, and improve business processes.
The privacy and security of data are becoming more and more important. Organizations are looking for data science platforms with strong security and privacy features because they are collecting more and more data.
Opportunities:
As data science is used more and more in healthcare, data science platform providers have a big chance to make solutions for this sector.
Growth in emerging markets: The data science platform market is growing quickly in Asia-Pacific and Latin America, which gives providers a chance to grow globally.
Integration with other technologies: Data science platforms can be combined with other technologies, like blockchain and the Internet of Things (IoT), so providers can offer more services.
Focus on SMBs: Small and medium-sized businesses (SMBs) might not have the resources to build their own data science solutions, so data science platform providers should focus on them.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 16.43% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 378.7 Billion |
| By Component | Platform, Services, Support and maintenance, Consulting, Deployment and Integration, Others |
| By Type | Cloud, On-premise, Others |
| By Application | Marketing, Sales, Logistics, Finance & Accounting, Customer Support, Others |
| By Industry Vertical | BFSI, Retail & eCommerce, Telecom & IT, Media & Entertainment, Healthcare & Life Sciences, Government & Defense, Manufacturing, Transportation & Logistics, Others |
| By Companies | Microsoft, IBM, Google, Wolfram, Datarobot, Cloudera, Rapidminer, Domino Data Lab, Dataiku, Alteryx, Continuum Analytics, Bridgei2i Analytics, Datarpm, Rexer Analytics, Feature Labs |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Regional Outlook:
In 2021, 36% of global income came from North America. This is because key regional market players are putting more and more effort into making these platforms better and better. For example, the tech company Oracle has said that a cloud-based data science platform will be available in February 2020. The new platform has features like shared projects, policies for team security, suitability, reproducibility, and model catalogues.
In 2021, Europe had the second-largest market share. As the use of data-driven digital transformation grows, more and more businesses in the area are putting this technology to use to speed up growth. Asia-Pacific (APAC) has continued to be a good market for companies that offer solutions and services for data science platforms. This is because data science platforms have grown a lot in both developed and developing economies. In Japan, China, and India, there are a number of possible data science platform market opportunities. Due to the fast growth of its technology-based economy, APAC is expected to have the fastest-growing demand for data science platform software and services over the next few years.
The global market for Data Science Platforms has been looked at in different parts of the world, like North America, Europe, Asia-Pacific, Latin America, the Middle East, and India. In the near future, this market will be dominated by the global region.
Key Segments Covered:
Top Market Players:
Microsoft, IBM, Google, Wolfram, Datarobot, Cloudera, Rapidminer, Domino Data Lab, Dataiku, Alteryx, Continuum Analytics, Bridgei2i Analytics, Datarpm, Rexer Analytics, Feature Labs, and others.
By Component:
- Platform
- Services
- Professional Services
- Managed Services
- Support and maintenance
- Consulting
- Deployment and Integration
By Type:
- Cloud
- On-premise
By Application:
- Marketing
- Sales
- Logistics
- Finance & Accounting
- Customer Support
- Others
By Industry Vertical:
- BFSI
- Retail & eCommerce
- Telecom & IT
- Media & Entertainment
- Healthcare & Life Sciences
- Government & Defense
- Manufacturing
- Transportation & Logistics
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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