(MENAFN- EIN Presswire) Data Science Platform Market
Surge in reliance on machine learning coupled with the surge in inclination of enterprises toward data-intensive business strategies will accelerate the market
PORTLAND, PORTLAND, OR, UNITED STATE, March 24, 2023 /einpresswire.com / -- Allied Market Research published a new report, titled, "data science platform market Expected to Reach USD 79.7 Billion by 2030|Top Players Such as-Dataiku, Alteryx and FICO." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global data science platform market was valued at USD 4.7 billion in 2020, and is projected to reach USD 79.7 billion by 2030, growing at a CAGR of 33.6% from 2021 to 2030.
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Advancements in big data technology, emphasis on collecting & using data for decision making, and surge in reliance on machine learning drive the growth of the global data science platform market. Based on region, North America accounted for the highest share in 2020, and is projected to continue its leadership status by 2030. Governments in numerous countries adopted data science to avail real-time data on coronavirus cases during the pandemic.
Data science platform market is segmented on the basis of component, application, industry vertical, and region. On the basis of component, it is divided into platform and services. On the basis of application, it is divided into marketing & sales, logistics, finance and accounting, customer support, and others. According to the industry vertical, it is segmented into BFSI, IT & telecommunication, retail & E-Commerce, healthcare, transportation, manufacturing and others). Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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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 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 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.
Leading players of the global data science platform industry analyzed in the research include Microsoft Corporation, SAS Institute, Inc., IBM Corporation, RapidMiner, Inc., SAP SE, Alteryx, Inc., Dataiku, The MathWorks, Inc., FICO, and Teradata.
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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.
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