(MENAFN- EIN Presswire) Data Science Platform
Surge in reliance on machine learning
coupled with surge inclination of enterprises toward data-intensive business strategies will accelerate the market
growth.
PORTLAND, PORTLAND, OR, UNITED STATE, May 4, 2023 /einpresswire.com / -- Allied Market Research published a new report, titled, "data science platform
market
Reach to USD 79.7 Billion by 2030|Top Players Such as- RapidMiner, The MathWorks & Teradata." 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 market
ing & 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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By end user, the BFSI segment dominated the data science platform
market
share in 2020, and is expected to maintain its dominance in the forecast period. This is due to digitalization of BFSI segment, rapid adoption of machine learning
, artificial intelligence techniques for data management, and to enhance customer experience. However, manufacturing
segment is expected to witness considerable growth rate during the forecast period. The modern manufacturing
industry
uses data science for increasing its productivity, reducing energy
costs, and boosting production. Data provides manufactures with valuable insights for profit
maximization, risk minimization, large scale production, and execution time acceleration.
As per the application, market
ing & Sales segment dominated the global market
in 2020. This is attributed to the fact that market
ing and sales departments of the companies can get more insights into the buyer's persona and spend by generating more Return on Investment. The data science platform
is rapidly being used in market
ing for channel
optimization, lead targeting, customer segmentation, and advanced lead scoring.
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Region wise, North America dominated the data science platform
market
in 2020. Growth of the market
in this region is attributed to several factors, such as rapid digitalization along with the surge in government
funding on innovative technologies, increase in number of IoT devices, and growth in technical base. 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:
. During the COVID-19 pandemic, data science platform
played a vital role in data management and smooth running of many sectors, such as BFSI, healthcare, and manufacturing
.
. The overall lockdown constrained organizations to move toward digitalization for the arrangement of work from home officers to their employee.
. Moreover, government
s 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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Lastly, this report provides market
intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market
dynamics and will enable strategic decision-making for the existing market
players as well as those willing to enter the market
.
About Us:
Allied Market Research (AMR) is a market
research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market
research reports, business solutions, consulting services, and insights on market
s across 11 industry
verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market
domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market
data that helps us generate accurate research data tables and confirm utmost accuracy in our market
forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online
and offline research and discussion with knowledgeable professionals and analysts in the industry
.
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Allied Analytics LLP
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