Advancements in big data technology, emphasis on collecting & using data for decision making, and a surge in reliance on machine learning drive the growth of the global data science platform market. However, high investment cost and issues related to data privacy, security, & reliability hinder the market growth. On the other hand, surge in adoption of cloud-based solutions & services present new opportunities in the coming years.
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Covid-19 Scenario:
► Various organizations adopted the work-from-home culture due to lockdown measures. This created the demand for data science platforms to manage critical information of organizations. This presented lucrative opportunities for market growth.
► Moreover, governments in numerous countries adopted data science to avail real-time data on coronavirus cases and gain actionable insights from the data.
The report offers detailed segmentation of the global data science platform market based on component, application, industry vertical, and region.
Based on components, the platform segment contributed to the highest share in 2020, accounting for more than three-fifths of the total market share. However, the services segment is projected to manifest the highest CAGR of 37.9% from 2021 to 2030.
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Based on industry vertical, the BFSI segment held the largest share in 2020, accounting for around one-fourth of the global data science platform market. However, the healthcare segment is estimated to witness the largest CAGR of 36.8% during the forecast period.
Based on region, North America accounted for the highest share in 2020, contributing to around half of the total market share, and is projected to continue its leadership status by 2030. However, Asia-Pacific is projected to portray the fastest CAGR of 35.8% during the forecast period.
The report has offered an all-inclusive analysis of the global Market taking into consideration all the crucial aspects like growth factors, constraints, market developments, top investment pockets, future prospects, and trends. At the start, the report lays emphasis on the key trends and opportunities that may emerge in the near future and positively impact the overall industry growth.
Key drivers that are propelling the growth of the global data science platform market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
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The report presents in-depth insights into each of the leading global data science platform market. end user verticals along with annual forecasts to 2030. The report provides revenue forecast with sales, and sales growth rate of the global Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
Key Market Players:
► TERADATA CORPORATION
► SAP SE
► RAPIDMINER INC
► SAS INSTITUTE INC.
► INTERNATIONAL BUSINESS MACHINES CORPORATION (IBM CORPORATION)
► THE MATHWORKS INC
► MICROSOFT CORPORATION
► ALTREYX, INC.
► FAIR ISSAC CORPORATION (FICO)
► DATAIKU SAS
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