Business Analysis Report on Data Science Platform Market- Emerging Technologies

MARKET SEGMENTATION
By Business Function
  • Logistics
  • Marketing
  • Sales
  • Customer Support
  • Human Resource
  • Others
By Deployment Type
  • On-Premise
  • On-Demand
By Industry Vertical
  • BFSI
  • Health and Life Sciences
  • IT and Telecom
  • Retail and Consumer Goods
  • Media and Entertainment
  • Manufacturing
  • Transportation and Logistics
  • Others


Global Data Science Platform market worth $1,95,677.5 million in 2016
The study reveals that the global data science platform market is likely to grow from $19,447.0 million in 2016 to $1,95,677.5 million by 2023. Due to significant growth in technologies such as IoT and advancement in big data analytics, the global data science platform market in gaining traction.
The global data science platform market is projected to reach $1,95,677.5 million by 2023, growing at a CAGR of 39.3% during 2017 - 2023.
Insights on market segments
As per the findings of the research, based on business functions, logistics led the global data science platform market in 2016. Among deployment types, on-premise deployment witnessed the higher growth in demand of data science platform in 2016. Among the industry verticals, demand for data science platform from healthcare industry is expected to generate largest revenue for the global data science platform market during the forecast period, however, the demand is expected to grow at the fastest rate from transportation and logistics industry in the coming years.
The market is expected to witness the fastest growth in Asia-Pacific during forecast period
Geographically, North America has been the largest market for data science platform, whereas Asia-Pacific is expected to witness highest growth among all regions due to growth of digitalization, smart city initiatives by various governments, increase in foreign direct investment (FDI) for smart technologies, and adoption of big data analytics at a significant growth rate in the region. Further, due to the growing economic prosperity of Asia and improving technology infrastructure, the region has high tendency to adopt data science platform solution at a rapid scale in near future.
Advancement in big data technologies bolsters the global data science platform market growth
The factors driving the growth of the global data science platform market includes rapid advancement in big data technologies globally, need for ease of use technological methods to drive business effectiveness, and demand for big data analysis to gain deeper insights into consumer buying patterns.
Moderate competition among players in the global data science platform market
The research states that the global data science platform market is moderately competitive with players continuously upgrading their offerings according to the market dynamics. Some of the key players in the data science platform ecosystem offering various product and services are Microsoft Corporation, Goggle, Inc., IBM Corporation, Wolfram, DataRobot Inc., Sense Inc., RapidMiner Inc., Domino Data Lab, and, Alteryx, Inc.
Most of the vendors prevailing in the global data science platform market are actively participating in organic and inorganic strategies. Many of them are entering in strategic partnership to help the companies in digital transformation, while others are enhancing their offerings for higher personalized end user experience.

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