Press release
Data Science Platform Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts
Data Science Platform
What Is the Expected Data Science Platform Market Size During the Forecast Period?
There has been a tremendous expansion in the data science platform market size in the past few years. The expected growth is from $120.49 billion in 2024 to $154.79 billion in 2025, with a compound annual growth rate (CAGR) of 28.5%. The growth in the previous periods can be traced back to the need for predictive analytics, adherence to regulatory requirements, growth of open-source ecosystems, increase in data complexity and an emphasis on data governance and privacy.
It's predicted that the data science platform market will witness a surge in its size in the upcoming years, reaching a value of $485.95 billion by 2029, with a compound annual growth rate (CAGR) of 33.1%. This robust growth anticipated over the prediction period is primarily due to the rapid expansion of unstructured data, advancements in natural language processing (NLP), the emergence of cross-functional collaboration platforms, and the democratization of data science. Noteworthy trends over the prediction period involve integration with business intelligence, increased applications in data science, constant monitoring and management of models, hyper automation, process combination, as well as the development and versioning of collaborative models, on top of hybrid and multi-cloud deployments.
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What Are the High-Growth Segments in the Data Science Platform Market?
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
Subsegments:
1) By Solutions: Data Preparation And Cleaning Tools, Machine Learning And AI Tools, Data Visualization Tools, Model Deployment And Monitoring Tools
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Education Services
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What Key Drivers Are Expected to Influence Future Data Science Platform Market Growth?
The surge in big data analytics' popularity is predicted to fuel the data science platform market's expansion in the projected period. Big data analytics utilize sophisticated analysis techniques to scrutinize a variety of structured, semi-structured, and unstructured data gathered by businesses and entities. Data science applies advanced analytical methodologies and scientific principles to extract crucial information from this data collection, to aid in corporate decision-making, strategic planning, and other applications. As an illustration, Techjury, an American software firm, forecasts that the big data analytics industry will hit $77 billion by 2023. Hence, the escalating demand for big data analytics underpins the momentum of the data science platform market's progression.
Which Companies Hold the Largest Share Across Different Data Science Platform Market Segments?
Major companies operating in the data science platform market include 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, Anaconda Inc., Amazon Web Services Inc. (AWS), Cloudera Inc., Databricks Inc., Snowflake Inc., accenture* PLC, OpenText Corporation, Splunk Inc., NVIDIA Corporation, Sumo Logic Inc., Sisense Inc., VMware Inc., Ernst & Young (EY), Domino Data Lab Inc., WNS Global Services Pvt. Ltd., BRIDGEi2i Analytics Solutions Pvt. Ltd.
What Trends Are Driving Growth in The Data Science Platform Market?
The trend of utilizing analytic apps is increasingly defining the data science platform marketplace. Numerous leading data science firms using applications are placing a premium on the incorporation of analytics tools to gain a deeper understanding of customer behavior. These data analytics applications can identify app usage, compare download figures and in-app purchases, track and assess KPIs, and provide users with in-app analytics insights, among many other benefits. An example of this trend took place in June 2022 when DataRobot AI Cloud, a US based company known for its focus on automated machine learning, initiated the Google Cloud Marketplace. Thanks to this new marketplace product, organizations such as American Family Mutual Insurance, Randstad North America, and Rentokil Initial can operate DataRobot's AI Cloud alongside their software and data on Google Cloud. This arrangement enables these firms to make the most of Google Cloud's vast portfolio of services, including BigQuery and Vertex AI, to construct, train, and launch models efficiently. It addresses the growing call for hybrid multi-cloud platforms that do away with data silos and boost AI capabilities.
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What Are the Emerging Geographies for The Data Science Platform Market Growth?
North America was the largest region in the data science platform market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data science platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Data Science Platform Market?
2. What is the CAGR expected in the Data Science Platform Market?
3. What Are the Key Innovations Transforming the Data Science Platform Industry?
4. Which Region Is Leading the Data Science Platform Market?
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