Global Data Science Platform Market is valued approximately USD 237.82 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 30% over the forecast period 2019-2026. Data science is a start to consolidate insights, information search, and their related procedures to comprehend and assess genuine information from the raw data. It gives techniques and methods drawn from numerous zones inside the wide sections of arithmetic, databases, data science, measurements and software engineering particularly from the subdomains of machine learning, bunch examination, information mining, and representation. The global impact of COVID-19 results in slow down of numerous economies and business across the world which may hinder the growth of data science platform market. The data science tools are largely accepted and demanded across the globe in various end-use industries due to the global rise in adoption of advanced technologies such as the internet of things (IoT), machine learning (ML), and AI. Such advanced technologies derives a lot of data from multiple devices such as cameras, smartphones, and routers, among others, which can be utilized to enhance business operations therefore big data analytics are used within an organization to increasingly focusing on optimizing structured and unstructured data to produce meaningful insights. Therefore, rapid growth in big data analytics across the globe in business operations is expected to propel the growth of market over the forecast years. For instance: As per the study by Wikibon, the worldwide big data market revenue for software and service is projected to grow from USD 42 billion in 2018 to USD 103 billion till 2027. In addition, growing demand for public cloud and adoption of artificial intelligence in developing economies is expected to propel the growth of market over the upcoming period. For instance: According to the study by International Financial Corporation: China GDP is expected to grow with USD 38 trillion by 2030, with the USD 7 trillion of that coming from AI through new business creation and upgradation of existing business in terms of improved efficiency and cost reduction. Also, according to the study by Accenture, AI has potential to add USD 957 billion of about 15% growth in India’s current gross value till 2035. However, Stringent government rules and regulations associated with Data science platform is hampering the growth of market over the forthcoming period.
The regional analysis of global Data Science Platform market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising demand for big data analytics across the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such adoption of advanced technologies such as machine learning and artificial intelligence along with need for ease of use technological methods to drive business effectiveness would create lucrative growth prospects for the Data Science Platform market across Asia-Pacific region.
Major market player included in this report are:
SAS Institute, Inc.
Fair Issac Corporation (FICO)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Technology offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Data Science Platform Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers