Press release
Data Science Platform Market Size by Emerging Trends & New Innovations | Leading Players include MathWorks, IBM, Wolfram, Altair, Cloudera, SAS & Databricks
Data Science Platform Market
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Furthermore, an increase in demand among various enterprises and industries to increase their operational efficiency, offer better customer services, and target probable customers in different regions and sectors are the key factors driving the demand for the data science platform.
Increasing adoption of cloud-based services and solutions
The adoption of cloud-based services and solutions can allow enterprises to process numerous business functions and store information in the cloud. Despite being in development stages cloud-computing is one of the rapidly developing technology in the data science platform industry. Moreover, by linking massive volumes of data with cloud technology, data scientists can execute complex data processes effectively and efficiently, which further allows companies to reduce operational costs, decrease non-productive time, risks, and uncertainty. Hence, such factors are anticipated to fuel the data science platform market growth.
Increasing adoption of AI and other advanced technologies
Numerous industries are progressively searching Artificial Intelligence, Machine Learning (ML), and other technologies and their applications for their respective business operations. In addition, as data is getting generated constantly the organizations are demanding advanced solutions to manage such huge volumes of data sets efficiently. Hence, AI integrated data science platform solutions can help industries in identifying massive data sets effectively and provide insights to gain a competitive advantage over their market rivals, which is anticipated to provide major opportunities for the market in forthcoming years.
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The healthcare industry is anticipated to dominate the market during the forecast period
The data has great importance in the healthcare industry as one mistake can directly impact on patient's health or even lead to life and death situations. With the application of data science, healthcare organizations can make decisions and draw conclusions based on the patient's past and current data along with medical knowledge. It can further enhance the patient's safety. Hence, such factors combined driving the demand for data science platforms in the healthcare industry.
North America is anticipated to lead the market growth
North America region is expected to hold the highest share during the forecast period. The data science platform market growth in this region is mainly attributed to the existence of major market players. In addition, rising demand for data science platforms among large as well small & medium organizations and the availability of technical experts in this region are the key factors driving the market demand in this region.
On the contrary, Asia-Pacific is estimated to hold the highest CAGR during the forecast period. The growth of the market in this region is majorly attributed to the rising demand for IoT, edge, and cloud solutions among various industries. In addition, it is further resulting in the generation of huge volumes of data, hence driving the demand for advanced technologies for data processing. The demand for data processing is further fuelling the demand for data science platforms.
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Key Market Players
MathWorks
IBM
Wolfram
Altair
Cloudera
SAS
Databricks
Bridgei2i
SAP SE
Fair Issac Corporation (FICO)
Others
Market Segments: Data Science Platform Market
By Component
Platform
Services
By Application
Logistics
Human Resources
Marketing
Others
By Industry Vertical
BFSI
Retail
Healthcare
IT & Telecom
Government & Defence
Others
By Region
North America
U.S.
Canada
Europe
UK
Germany
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia-Pacific
Middle East & Africa
UAE
South Africa
Rest of Middle East & Africa
South America
Brazil
Rest of South America
Key Sources
Industry Associations
Patent Websites
Company Annual Reports
Company Websites
Key industry leaders
IEEE journals
Technology consultants
System Integrators
Others
Key Questions Answered
What are the key growth regions and countries?
What are the important types and technologies being used?
What are the market players doing, in terms of research and development?
Which are the new applications for this market?
What are the integrations happening?
What are the recent news, developments, mergers, or large value deals?
Key Stakeholders
Software & solution providers
System Integrators
Regulatory Authorities
Research and Innovation Organizations
Technocrats
Suppliers and Distributors
Other Channel Partners
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market's size, key trends, participants and future outlook of an industry. We intend to become our clients' knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code- Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
Ryan Johnson
Account Manager Global
3131 McKinney Ave Ste 600, Dallas,
TX75204, U.S.A.
Phone No.: USA: +1 972-362 -8199/ +91 9665341414
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