Data Science Platform Market to Reach $183,688 Million Globally by 2023 - Comprehensive Analysis of Top Impacting Growth Factors | Global Opportunity Analysis and Forecast (2017-2023)

The data science platform market was valued at $19,621 million in 2016, and is projected to reach at $183,688 million by 2023, growing at a CAGR of 39.6% from 2017 to 2023. Top executives have realized that the use of data science platform is extremely important and data analytics is going to shift the competitive landscape globally. Hence, organizations look at data science investments as ROI-based valuation, wherein they allocate budget for existing strategies and decide whether to invest in data acquisition, in developing a complex model or in both.

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Data science platform solutions include analytics and performance management, business intelligence and analytics tools, analytic data management and integration platform, and advanced & predictive analytics software solutions. Moreover, the service segment includes consulting, designing & integration, risk assessment, and training.

Rise in data collection; realization of the importance of data science platform by the organizations; and the advancement of different technologies, such as big data analytics, Internet of Things, and artificial intelligence, drive the market growth. However, lack of skilled workforce and growth in concern of data security and protection are anticipated to hamper the market growth during the forecast period.

The global data science platform market is characterized by the presence of international market players. These companies tend to expand their market presence by adopting strategies, such as strategic collaborations and acquisitions.

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Dominating Market Players Profiled in this Report

•Microsoft Corporation
•IBM Corporation
•SAS Institute Inc.
•SAP SE
•RapidMiner Inc.
•Dataiku SAS
•Alteryx Inc.
•Fair Issac Corporation
•MathWorks Inc.
•Teradata Inc.

The service segment is projected to grow at a CAGR of around 47% during the forecast period. Increase in competition and rise in the need of consultancy and outsourcing services are anticipated to boost this segment growth during the forecast period.

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The others segment dominated the market in 2016, followed by Banking, Financial Services and Insurance (BFSI) segment. Furthermore, these segments collectively accounted for around 54% share of the overall market revenue in 2016. The manufacturing sector is expected to register highest CAGR of around 43%, owing to the implementation of new technology, such as intelligent robots, 3D printing, drones, and artificial intelligence.

Table of Content


Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies

3.3. PORTERS FIVE FORCES ANALYSIS

3.3.1. Moderate bargaining power of suppliers
3.3.2. High threat of new entrants
3.3.3. Low threat of substitutes
3.3.4. High competitive rivalry
3.3.5. Moderate bargaining power among buyers

3.4. PLAYER POSITIONING
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Data Explosion
3.5.1.2. Realization of importance of data science platform by organizations
3.5.1.3. Increase in focus on Return on Investment (ROI)
3.5.1.4. Increase in data collection and analysis from mobile devices
3.5.1.5. Advancement of big data technologies

3.5.2. Restraints

3.5.2.1. Growing concerns of data security and protection
3.5.2.2. Lack of skilled workforce
3.5.2.3. High initial investments

3.5.3. Opportunities

3.5.3.1. Adoption of cloud-based solutions and services
3.5.3.2. Target untapped and emerging markets

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