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Data Science Platform Market to 2023 : In-depth analysis of prominent market players with Future Estimations

03-28-2019 07:40 PM CET | IT, New Media & Software

Press release from: Allied Market Research

Data Science Platform Market to 2023 : In-depth analysis

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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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.

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.

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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 for consultancy and outsourcing services are anticipated to boost this segment growth during the forecast period.

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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. Some of the key vendors in the data science platform include Microsoft Corporation, IBM Corporation, SAS Institute, Inc., SAP SE, RapidMiner, Inc., Dataiku SAS, Alteryx, Inc., Fair Issac Corporation, MathWorks, Inc., and Teradata, Inc.

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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