Global Data Science Platform Market to Reach USD 79.7 Billion by 2030 | Top Players Such as - Alteryx, Dataiku & FICO

According to the report published by Allied Market Research, The Global Data Science Platform Market to Reach USD 79.7 Billion by 2030 | Top Players Such as - Alteryx, Dataiku & FICO. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

Advancements in big data technology, emphasis on collecting & using data for decision making, and a surge in reliance on machine learning drive the growth of the global data science platform market. However, high investment cost and issues related to data privacy, security, & reliability hinder the market growth. On the other hand, the surge in adoption of cloud-based solutions & services present new opportunities in the coming years.

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The global data science platform market was valued at USD 4.7 billion in 2020, and is projected to reach USD 79.7 billion by 2030, growing at a CAGR of 33.6% from 2021 to 2030.

Data science platform market is segmented on the basis of component, application, industry vertical, and region. On the basis of component, it is divided into platform and services. On the basis of application, it is divided into marketing & sales, logistics, finance and accounting, customer support, and others. According to the industry vertical, it is segmented into BFSI, IT & telecommunication, retail & E-Commerce, healthcare, transportation, manufacturing and others). Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on components, the platform segment contributed to the highest share in 2020, accounting for more than three-fifths of the total market share. However, the services segment is projected to manifest the highest CAGR of 37.9% from 2021 to 2030.

Based on industry vertical, the BFSI segment held the largest share in 2020, accounting for around one-fourth of the global data science platform market. However, the healthcare segment is estimated to witness the largest CAGR of 36.8% during the forecast period.

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Based on region, North America accounted for the highest share in 2020, contributing to around half of the total market share, and is projected to continue its leadership status by 2030. However, Asia-Pacific is projected to portray the fastest CAGR of 35.8% during the forecast period.

Leading players of the global data science platform industry analyzed in the research include Microsoft Corporation, SAS Institute, Inc., IBM Corporation, RapidMiner, Inc., SAP SE, Alteryx, Inc., Dataiku, The MathWorks, Inc., FICO, and Teradata.

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Covid-19 Scenario:

● Various organizations adopted the work-from-home culture due to lockdown measures. This created the demand for data science platforms to manage critical information of organizations. This presented lucrative opportunities for market growth.

● Moreover, governments in numerous countries adopted data science to avail real-time data on coronavirus cases and gain actionable insights from the data.

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