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Data Science Platform Market: Unlocking Future Insights with Emerging Trends, Growth Drivers, and Technological Advancements
Data Science Platform Market
As per the report, the data science platform market size has grown exponentially in recent years. It will grow from $94.73 billion in 2023 to $122.82 billion in 2024 at a compound annual growth rate (CAGR) of 29.6%. The data science platform market size is expected to see exponential growth in the next few years. It will grow to $361.44 billion in 2028 at a compound annual growth rate (CAGR) of 31.0%.
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Growing Demand For Big Data Analytics Fuels Data Science Platform Market Growth
The increase in demand for big data analytics is expected to propel the growth of the data science platform market during the forecast period. Big data analytics employs advanced analytic techniques to analyze a mixture of structured, semi-structured, and unstructured data collected by businesses and entities. Data science is the practice of extracting important information from data using advanced analytics techniques and scientific principles for enterprise decisions, strategic planning, and other purposes. For instance, according to Techjury, a US-based software company, the big data analytics sector is projected to reach $77 billion by 2023. Therefore, the increasing demand for big data analytics drives the data science platform market growth.
Adoption Of Analytic Apps Shaping The Data Science Platform Market
The adoption of analytic apps is shaping the data science platform market. Major data science companies that use applications are focusing on adopting analytics applications that will help them better understand consumer behavior. Data analytic apps can tell users if the app is detected, compare downloads and in-app purchases, monitor, and evaluate KPIs, and give users in-app analytics insights, among other things. For instance, in May 2021, InCorta, Inc., a US-based company that provides data analytics software launched the Incorta Mobile app. The Incorta Mobile App allows Incorta users to access, evaluate, and analyze business information from anywhere, at any time, with the ability to drill down into particular transaction details.
The data science platform market covered in this report is segmented -
1) By Type: Solutions, Services
2) By Deployment: Cloud-Based, On-Premise
3) By End User: BFSI, Telecommunication, Transportation And Logistics, Healthcare, Manufacturing, Other End Users
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Major companies operating in the data science platform market report are Microsoft Corporation, Google LLC, International Business Machines Corporation (IBM), Oracle Corporation, Alteryx Inc., SAP SE, Teradata Corporation, TIBCO Software Inc., RapidMiner Inc., MathWorks Inc., SAS Institute Inc., Wolfram Research Inc., Dataiku Inc., Fair Isaac Corporation (FICO), Altair Engineering Inc., DataRobot Inc., Apheris AI GmbH, The Digital Talent Ecosystem, Anaconda Inc., Amazon Web Services Inc. (AWS), Cloudera Inc., Databricks Inc., Snowflake Inc., OpenText Corporation, Splunk Inc., Unified ID Inc., NVIDIA Corporation, Sumo Logic Inc., Sisense Inc., VMware Inc., Walmart Inc., JPMorgan Chase & Co., Ernst & Young (EY), Domino Data Lab Inc., WNS Global Services Pvt. Ltd., BRIDGEi2i Analytics Solutions Pvt. Ltd.
Contents of the report:
1. Executive Summary
2. Data Science Platform Market Report Structure
3. Data Science Platform Market Trends And Strategies
4. Data Science Platform Market - Macro Economic Scenario
5. Data Science Platform Market Size And Growth
…..
27. Data Science Platform Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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