IMARC Group has recently released a new research study titled “Data Science Platform Market Report by Component (Software, Services), Application (Marketing and Sales, Logistics, Finance and Accounting, Customer Support, and Others), Vertical (IT and Telecommunication, Healthcare, BFSI, Manufacturing, Retail and E-Commerce, and Others), and Region 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the data science platform market?
The global data science platform market size reached US$ 8.9 billion in 2022 and the market to reach US$ 48.5 Bn by 2028, exhibiting a growth rate (CAGR) of 32.87% during 2023-2028.
What is data science platform?
A data science platform is a comprehensive software solution that enables organizations to streamline and enhance their data science workflows. It provides a centralized environment for data scientists, analysts, and other stakeholders to access, analyze, and collaborate on data, build and deploy machine learning models, and derive insights from complex datasets.
A data science platform integrates various tools and functionalities required for data preparation, exploration, modeling, and deployment, making it easier for organizations to leverage the power of data science in their decision-making processes. Additionally, data science platforms offer tools and visualizations to perform exploratory data analysis. Users can explore and understand the data, identify patterns, correlations, and outliers, and gain insights that drive further analysis and modeling decisions.
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What are the growth prospects and trends in the data science platform industry?
The global market is primarily driven by increasing demand for data-driven insights across various industries. This can be attributed to the growing demand for insights derived from large and complex datasets that can facilitate data analysis, modeling, and visualization to extract actionable insights. Moreover, the widespread adoption of artificial intelligence (AI) and machine learning (ML) technologies is propelling the market further as they provide the necessary tools and infrastructure to develop, deploy, and manage AI and ML models, allowing organizations to leverage these technologies to gain a competitive edge.
Also, automation and efficiency are crucial is impelling the data science platform market as organizations are looking for platforms that can automate repetitive tasks, such as feature engineering, data preprocessing and model deployment, to accelerate the data science lifecycle and improve productivity. Some of the other factors driving the market include rapid urbanization and digitization.
Who are the key players operating in the industry?
The report covers the major market players including:
- Alteryx Inc.
- Cloudera Inc.
- Dataiku Inc.
- Google LLC (Alphabet Inc.)
- ai Inc.
- International Business Machines Corporation
- Microsoft Corporation
- RapidMiner Inc.
- SAP SE
- SAS Institute Inc.
- The MathWorks Inc.
- TIBCO Software Inc.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
- Software
- Services
Breakup by Application:
- Marketing and Sales
- Logistics
- Finance and Accounting
- Customer Support
- Others
Breakup by Vertical:
- IT and Telecommunication
- Healthcare
- BFSI
- Manufacturing
- Retail and E-Commerce
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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