Press release
Data Science Platform Market Size, Growth, Industry Share, Regional Outlook, Competitive Analysis And Forecast To 2033
Data Science Platform Market
The data science platform market size is expected to see exponential growth in the next few years. It will grow to $361.44 billion in 2028 at a compound annual growth rate (CAGR) of 31.0%. The growth in the forecast period can be attributed to exponential growth in unstructured data, natural language processing (nlp) advancements, cross-functional collaboration platforms, democratization of data science.. Major trends in the forecast period include hybrid and multi-cloud deployments, integration with business intelligence , exponential increase in data science applications, continuous model monitoring and management, hyperautomation and process integration, collaborative model development and versioning..
Market Overview -
The data science platform is a software that are used to analyze, organize, and transfer to assist businesses in developing analytic models and managing analytic data Data analysis across multiple platforms can assist businesses in gaining insights from user data and marketing campaigns, ultimately assisting in the improvement of strategy and revenue.
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Growing Demand For Big Data Analytics Fuels Data Science Platform Market Growth
The increase in demand for big data analytics is expected to propel the growth of the data science platform market during the forecast period. Big data analytics employs advanced analytic techniques to analyze a mixture of structured, semi-structured, and unstructured data collected by businesses and entities. Data science is the practice of extracting important information from data using advanced analytics techniques and scientific principles for enterprise decisions, strategic planning, and other purposes. For instance, according to Techjury, a US-based software company, the big data analytics sector is projected to reach $77 billion by 2023. Therefore, the increasing demand for big data analytics drives the data science platform market growth.
Competitive Landscape -
Major companies operating in the data science platform market report are Microsoft Corporation, Google LLC, International Business Machines Corporation (IBM), Oracle Corporation, Alteryx Inc., SAP SE, Teradata Corporation, TIBCO Software Inc., RapidMiner Inc., MathWorks Inc., SAS Institute Inc., Wolfram Research Inc., Dataiku Inc., Fair Isaac Corporation (FICO), Altair Engineering Inc., DataRobot Inc., Apheris AI GmbH, The Digital Talent Ecosystem, Anaconda Inc., Amazon Web Services Inc. (AWS), Cloudera Inc., Databricks Inc., Snowflake Inc., Accentur*e PLC, OpenText Corporation, Splunk Inc., Unified ID Inc., NVIDIA Corporation, Sumo Logic Inc., Sisense Inc., VMware Inc., Walmart Inc., JPMorgan Chase & Co., Ernst & Young (EY), Domino Data Lab Inc., WNS Global Services Pvt. Ltd., BRIDGEi2i Analytics Solutions Pvt. Ltd.
Adoption Of Analytic Apps Shaping The Data Science Platform Market
The adoption of analytic apps is shaping the data science platform market. Major data science companies that use applications are focusing on adopting analytics applications that will help them better understand consumer behavior. Data analytic apps can tell users if the app is detected, compare downloads and in-app purchases, monitor, and evaluate KPIs, and give users in-app analytics insights, among other things. For instance, in May 2021, InCorta, Inc., a US-based company that provides data analytics software launched the Incorta Mobile app. The Incorta Mobile App allows Incorta users to access, evaluate, and analyze business information from anywhere, at any time, with the ability to drill down into particular transaction details.
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Key Segments -
The data science platform market covered in this report is segmented -
1) By Type: Solutions, Services
2) By Deployment: Cloud-Based, On-Premise
3) By End User: BFSI, Telecommunication, Transportation And Logistics, Healthcare, Manufacturing, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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