The Worldwide Data Science Platform Industry is Estimated to Reach $79.7 Billion by 2030 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--Oct 27, 2022--

The "Global Data Science Platform Market By Component, By Application, By Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.

According to this report the global data science platform market was valued at $4.7 billion in 2020, and is estimated to reach $79.7 billion by 2030, growing at a CAGR of 33.6% from 2021 to 2030.

Data science platform is a packaged software application that provides the tools for the entire life cycle of a data science project. Data science platforms are indispensables tools for data scientists. It enables data exploration, model development, and model distribution. It facilitates data preparation and data visualization while providing a large-scale computing infrastructure.

Data science platforms help users collaborate by providing a centralized platform. They serve as a one-stop shop for data modeling because data science platforms contain the APIs to allow for model production and testing with minimal outside engineering needs.

Increase in reliance on machine learning creates a need for data science platforms that fulfill needs in building, training, scaling, and deploying machine learning (ML) models. The proper platforms and technologies enable breakthroughs in data science. In addition, machine learning and artificial intelligence are driving innovations in data science and data management. The advancement of big data technology and importance of collecting and using data for decision making are anticipated to drive the market growth during the forecast period.

However, high investment cost, data privacy & security, and reliability issues observed by the employees hamper the market growth. Moreover, adoption of cloud-based solutions & services and targeting untapped and emerging market for data science platforms are expected to provide ample growth opportunities for the market during forecast period.

Key Benefits For Stakeholders

• The study provides an in-depth analysis of the Data science platform market along with current trends and future estimations to elucidate imminent investment pockets.
• Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
• Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• The quantitative analysis of Data science platform market for the period 2020-2030 is provided to determine the market potential.

Key Market Segments

By Component

• Platform
• Services

By Application

• Marketing Sales
• Logistics
• Finance and Accounting
• Customer Support
• Others

By Industry Vertical

• BFSI
• Retail and E-Commerce
• IT and Telecom
• Transportation
• Healthcare
• Manufacturing
• Others

By Region

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Spain
• Italy
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia-Pacific
• LAMEA
• Latin America
• Middle East
• Africa

Key Market Players

• Microsoft Corporation
• SAS Institute Inc.
• Fair Issac Corporation (Fico)
• International Business Machines Corporation (Ibm Corporation)
• SAP Se
• Teradata Corporation
• Altreyx, Inc.
• Dataiku Sas
• Rapidminer Inc
• The Mathworks Inc

For more information about this report visit https://www.researchandmarkets.com/r/vuemcv

View source version on businesswire.com:https://www.businesswire.com/news/home/20221027005792/en/

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KEYWORD:

INDUSTRY KEYWORD: ELECTRONIC DESIGN AUTOMATION TECHNOLOGY OTHER SCIENCE SOFTWARE RESEARCH SCIENCE

SOURCE: Research and Markets

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