Report Scope & Overview:
Data Science Platform Market size was valued at USD 7.97 Bn in 2022 and is expected to reach USD 46.56 Bn by 2030, and grow at a CAGR of 24.67% over the forecast period 2023-2030.
All data science and data analysis work are done on the data science platform, which is a software hub. The data science platform includes all of the tools needed for the data science project's entire life cycle, including ideation, installation, discovery, model building, and software implementation. To be more specific, data science is a mix of data collection, analysis, and interpretation methods. The data science platform enables data scientists to improve their job by allowing them to run, track, repeat, analyze, and communicate their findings more quickly.
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One such software tool that is frequently employed by enterprises is the data science platform. This program combines a number of technologies to provide sophisticated analytics and machine learning capabilities. It enables data scientists to create procedures, extract insights from data, and share those findings throughout a project in a single situation. Data science projects use a variety of tools that are built for each phase of the data modeling process.
Prakshep, an agro data science startup, was acquired by Arya.ag in June 2022. Arya strengthens its position as India's biggest comprehensive grain commerce platform and expands its tech capabilities to deliver end-to-end solutions to its users with this purchase. Arya's ambition of providing cutting-edge AI/ML capabilities to digital farming, crop monitoring, quality assaying, and surveillance is strengthened by this purchase. This purchase will allow Arya to strengthen its ties with additional chain players such as FPOs, processors, and corporations, as well as banks and insurance firms.
MARKET DYNAMICS:
KEY DRIVERS:
Demand for analytical tools is on the rise.
It assists users in shaping, controlling, and measuring data as well as developing organizational strategies.
RESTRAINTS:
For the data science platform industry, there is a scarcity of professionals with the necessary expertise.
Data analysis is less successful if it is done before a clear image of the business problem needs to be solved.
OPPORTUNITY:
The data-intensive strategy is increasingly being adopted by businesses.
the emergence of modern technologies such as big data, machine learning, the Internet of Things, and the cloud.
CHALLENGES:
complicated in nature and necessitate in-depth analytic skills
IMPACT OF COVID-19:
COVID-19 has had a favorable influence on market growth and will present several prospects for market expansion over the projection period. These prospects include growth in business demand for data science platforms as a result of remote work efforts, an increase in data applications, and the launch of novel data science platform solutions. The COVID-19 outbreak disrupted all businesses throughout the world. During the COVID-19 pandemic, data science platforms were critical to data management and the seamless operation of various industries, including BFSI, healthcare, and manufacturing.
During the COVID-19 pandemic, the benefits of a data science platform became increasingly apparent. Because of the general lockdown, businesses have been forced to go toward digitization for work schedules from home officers to employees. As major technology businesses integrate automation and intelligence into their operations, the impact of the COVID-19 pandemic is boosting interest in data science platforms.
MARKET ESTIMATION:
In 2021, the marketing and sales category had the highest revenue share. The market is divided into marketing and sales, logistics, finance and accounting, customer support, and others, depending on the application. The marketing and sales category has the highest revenue share owing to the multiple benefits provided, such as employing data science to get deeper insights into the buyer's profile and spend the marketing budget accordingly, resulting in a higher Return on Investment (ROI). The platform is being used by the logistics industry to improve supply chain efficiency. It aids in the generation of insights from data collected from transportation, inventory, and everything in between, as well as the identification of patterns that will have an influence on the whole supply chain.
In 2021, the platforms category had the highest revenue share. This is due to the increasing use of data technology by big and medium-sized businesses. The market is divided into platforms and services based on its components. Companies are concentrating their efforts on implementing products that provide uniformity and repeatability. This may be accomplished through the use of data science platforms. In the near future, the services category is expected to grow. Training, consultation, deployment, integration, maintenance, support, and other services are supplied by leading organizations in the industry. More firms are seeking methods to incorporate data science platforms into their working environment to obtain productivity and efficiency gains since data science platforms provide significant growth prospects.
In 2021, the BFSI segment accounted for the most revenue. IT and telecommunications, healthcare, BFSI, manufacturing, retail and e-commerce, energy and utilities, government, and others are the verticals that the market is divided into. During the projection period, the healthcare category is expected to rise. Medical imaging is one of the platform's most well-known uses. The platform is also being used by the IT and telecommunications industries to boost productivity and efficiency. The platform aids in the automation of routine operations and gives deeper insights into data gathered from various sources.
KEY MARKET SEGMENTS:
On The Basis of Component:
Platform
Services
On The Basis of Application:
Marketing & Sales
Logistics
Finance and Accounting
Customer Support
Others
On The Basis of Industry Vertical:
BFSI
Retail and E-Commerce
IT and Telecom
Transportation
Healthcare
Manufacturing
Others
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REGIONAL ANALYSIS:
Asia Pacific (APAC), North America, the Middle East and Africa (MEA), Latin America, and Europe are among the areas where the global data science platform market exists. North America appears to be one of the most important areas in the data science platform industry.
The North American data science platform market is expected to retain its dominance due to a number of reasons, including the presence of several major competitors in the area. Furthermore, the increased need for IoT, cloud, and edge solutions is leading in significant data production, which is driving up demand for sophisticated data processing technologies in the area.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
KEY PLAYERS:
The major key players are Microsoft Corporation, Sas institute inc., Fair Issac Corporation (fico), International business machines corporation (IBM corporation), Sap SE, Teradata Corporation, Altreyx, inc., Dataiku sas, Rapidminer inc, The MathWorks inc. and Other Players
| Report Attributes | Details |
| Market Size in 2022 | US$ 7.97 Bn |
| Market Size by 2030 | US$ 46.56 Bn |
| CAGR | CAGR of 24.67% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Component (Platform and Services) • by Application (Marketing & Sales, Logistics, Finance and Accounting, Customer Support, Others) • by Industry Vertical (BFSI, Retail and E-Commerce, IT and Telecom, Transportation, Healthcare, Manufacturing, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Microsoft Corporation, Sas institute inc., Fair Issac Corporation (fico), International business machines corporation (IBM corporation), Sap SE, Teradata Corporation, Altreyx, inc., Dataiku sas, Rapidminer inc, The MathWorks inc. |
| Key Drivers | • Demand for analytical tools is on the rise • It assists users in shaping, controlling, and measuring data as well as developing organizational strategies |
| Market Opportunities | • The data-intensive strategy is increasingly being adopted by businesses • the emergence of modern technologies such as big data, machine learning, the Internet of Things, and the cloud |
Ans: - The Data Science Platform market size was valued at USD 7.97 Bn in 2022.
Ans: - The emergence of modern technologies such as big data, machine learning, the Internet of Things, and the cloud.
Ans: - The segments are covered in the Data Science Platform Market report for study On the Basis of Component, application, and vertical.
Ans. The major key players are Microsoft Corporation, Sas institute inc., Fair Issac Corporation (fico), International business machines corporation (IBM corporation), Sap SE, Teradata Corporation, Altreyx, inc., and Dataiku sas, Rapidminer Inc., The MathWorks inc.
Ans. The study includes a comprehensive analysis of Speech-to-text API Market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter's five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Data Science Platform Market Segmentation, by Component
8.1 Platform
8.2 Services
9. Data Science Platform Market Segmentation, by Application
9.1 Marketing & Sales
9.2 Logistics
9.3 Finance and Accounting
9.4 Customer Support
9.5 Others
10. Data Science Platform Market Segmentation, by Industry Vertical
10.1 BFSI
10.2 Retail and E-Commerce
10.3 IT and Telecom
10.4 Transportation
10.5 Healthcare
10.6 Manufacturing
10.7 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Microsoft corporation
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Sas institute inc.
12.3 Fair issac corporation (fico)
12.4 International business machines corporation (IBM corporation)
12.5 Sap se
12.6 Teradata corporation
12.7 Altreyx, inc.
12.8 Dataiku sas
12.9 Rapidminer inc
12.10 The MathWorks inc
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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