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Data Science Platform Market Expected to Garner $224.3 Billion by 2026, Growing at 31.1% CAGR from 2019-2026
Data Science Platform Market
As per the report, the global data science platform market is predicted to grow at a stable CAGR of 31.1% in the 2019-2026 timeframe, thereby garnering $224.3 billion by 2026.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐ง๐จ๐ฐ @ https://www.researchdive.com/download-sample/77
๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐๐ซ๐ค๐๐ญ
๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ: Growing adoption of data analytical tools, over the last few years, is expected to be the primary growth driver of the data science platform market in the forecast period. Along with this, product developments, such as the launch of new analytical tools, is expected to boost the growth rate of the market further.
๐๐๐ฌ๐ญ๐ซ๐๐ข๐ง๐ญ๐ฌ: Lack of domain expertise, however, may dampen the growth rate of the data science platform market.
๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ: Increasing demand and adoption of new-age technologies such as Internet of Things (IoT) is expected to offer numerous growth opportunities to the market in the analysis timeframe. Moreover, product developments and technological innovations in this sector of data science platform is estimated to help the market grow in the coming years.
๐๐๐ ๐ฆ๐๐ง๐ญ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐๐ซ๐ค๐๐ญ
The report has divided the data science platform market into different segments based on type, end-use, and region.
By type, the service sub-segment is predicted to have the fastest growth rate and is expected to garner a substantial revenue of $76.0 billion by 2026. Service type data science platforms assist the clients in solving some of the toughest challenges they face, thereby ensuring customer satisfaction. As a result, service types are in heavy demand, which is expected to boost the sub-segment in the forecast period.
By end-use, the banking, financial services and insurance sub-segment is anticipated to have the highest market share and grow at a CAGR of 29.4% by 2026. Over the years, data science has proved to be of great help as far as providing better experiences to customers availing banking and other financial services is concerned. This utility of data science platform is predicted to help the sub-segment grow in the analysis period.
By regional analysis, the data science platform market in Asia-Pacific region is expected to flourish immensely and generate $48.0 billion by 2026. Increased investments by major tech companies of this region in the development of different data science platforms is anticipated to boost the growth of the market in this region during the forecast years.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง @ https://www.researchdive.com/request-for-customization/77
๐๐ข๐ ๐ง๐ข๐๐ข๐๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
The significant market players of the data science platform market are Databricks, Civis Analytics, IBM Corporation, Alphabet Inc. (Google), Cloudera, Inc., Altair Engineering, Inc., Domino Data Lab, Inc., Anaconda, Inc., Microsoft Corporation, and Dataiku, among others. These key market players are developing different strategies like product development, merger and acquisitions, partnerships and collaborations to gain a leading position in the market.
The Research Dive report also summarizes many crucial aspects of the data science platform market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
๐๐จ๐ง๐ญ๐๐๐ญ:
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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, a team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable.
Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive delivers the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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