Data Science Platform Market (Updated Version Available)
Data Science Platform Market | Size, Share & Trends Analysis, By Component (Platform and Services), Organization size (Large enterprises and Small & medium sized enterprises), Deployment mode (Cloud and On-premises), End-User (BFSI, IT and Telecommunication, Retail and eCommerce, Transportation, Healthcare, and Others), By Region, Forecast Period-2022 - 2030
Report ID : RI_673771 | Date : September 2024 |
Format : 
Key Market Overview:
The Data Science Platform Market was valued at USD 58.65 Billion in 2022, registering a CAGR of 39.5% during the forecast period (2023-2030), and the market is projected to be worth USD 432.63 Billion by 2030.
Data science platform is a pre-packaged software program that provide capabilities required for whole life cycle for data science project. The platform is used for model distribution, model creation and data exploration. It enables data preparation and visualization trouble free, while offering large scale computing infrastructure.
Data science platform is an essential tool for data scientists to plan strategies and to collect insights from the data. It is considered as a centralized platform which encourages user collaboration. Further, the platform offers open-source tool with significant flexibility to fulfill requirements in training, scaling, and deploying machine learning model. Moreover, advancement in emerging technologies and adoption of cloud-based services are driving the growth of data science platform market. Additionally, implementation of data science software in various industries such as IT & telecommunication, healthcare, Retail and eCommerce and transportation is a key factor to drive the market growth of data science platform. Growing use of social media and IoT devices resulting generation of large volume of structured and unstructured data. The massive data generation fuel the demand of new technologies resulting to drive data science platform market.
Data science platform Market Coverage
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Market Dynamics:
Driver:
Rapid growth of big data and utilities offered by data science software program is augmenting the growth of data science platform market.
Rapid growth of big data and utilities offered by data science software program is augmenting the growth of data science platform market.
The process of data collection is rapidly expanding due to the growth of data generating platforms such as social media, IoT and multimedia. Advancement in emerging technologies, adoption of cloud-based services and development of artificial intelligence (AI) are driving the growth of data science platform market. Additionally, implementation of data science platform in various industries such as IT & telecommunication, healthcare, Retail and eCommerce and transportation is a key factor to drive the market growth of data science platform. Hence, increasing volume of business data, emerging technological developments and declining prices of smart devices are driving the growth of data science platform market.
COVID-19 Impact
The COVID-19 pandemic has positively impacted data science platform market. Sudden outbreak of pandemic led to implementation of remote working and increased data applications. The lockdown resulted into rapid digitalization and work from home trend. Thus, data science platform helps for data management and smooth running of various industrial verticals such as BFSI, healthcare, and manufacturing.
Restraint:
High investment cost, data privacy & security, and uncertainty over business problems creates growth hindrance for data science platform market.
High investment cost, data privacy & security, and uncertainty over business problems creates growth hindrance for data science platform market.
Businesses should analyze the challenges before implementing data science platform. Data science platform become less effective if the businesses issues are not rectified. Additionally, high investment cost, data security and need of technical expertise with critical thinking abilities are creating growth hindrance for data science platform market.
Data science platform Market Segmentation:
By Component
The Component segment is bifurcated into Platform and Services.
Platform segment holds major market share for data science platform owing to rising adoption of cloud-based system and data technology by the organizations.
Services segment witness rapid growth of data science platform market. Businesses are implementing data science platform due to rapid adoption of digitalization and automation, which led to large volume of data generation. The service segment of data science platform includes managed services, support & maintenance, and deployment & integration.
By Organization size
The organization size segment is divided into large enterprises and Small & medium sized enterprises.
Large enterprise demonstrates largest revenue share for data science platform market. Adoption of cloud-based system in large enterprises is increasing the implementation of data science platform. The process of data generation and data collection plays major role in large businesses which led to rise the growth of data science platform market.
Small and medium enterprise anticipate fastest growth of data science platform due to rapid digitalization and adoption of emerging technologies. Data science software program helps to collect insights from data. Thus, implementation of data science platform is increasing in SME for data exploration.
By Deployment mode
The Deployment mode segment is categorized into Cloud and On-premises.
On-premises deployment demonstrate largest revenue share for data science platform due to high level of control and security. On-premises deployment mode of data science platform helps enterprises for high regulation of industry verticals such as manufacturing, BFSI, healthcare and life sciences.
Cloud deployment anticipate fastest growth of data science platform owing to rising adoption of advanced technologies such as artificial intelligence (AI) and machine learning (ML). Cloud computing is data storage, data maintenance and data processing via internet or networks of remote server.
By End-User
The End-User segment is categorized into BFSI, IT and Telecommunication, Retail and eCommerce, Transportation, Healthcare, and Others.
BFSI holds major market share for data science platform market due to rapid adoption of emerging technologies for data management and data storage.
Healthcare segment demonstrate rapid growth of data science platform owing to rising adoption of data science software program for medical imaging and advanced healthcare facilities.
By Region
The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
North America has accounted major market share for data science platform. Advancement of technologies, development of artificial intelligence (AI) and rapid digitalization is driving the growth of data science platform market in North America region. Additionally, major players are focusing on development of data science software program. For instance, in 2020, Oracle launched cloud-based data science platform for team security policies, audibility, and reproducibility.
Asia Pacific region witness fastest growth in data science platform market due to growing investments in big data analytics and emerging technologies. Additionally, adoption of emerging technologies and technological developments fuel the growth of data science platform market.
Data Science Platform Services Market Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and End-User launches have accelerated the growth of the Global Data Science Platform Market. Key players in the market include-
• Google LLC
• Microsoft
• IBM
• H2O.ai
• Alteryx
• SAS Institute Inc.
• The MathWorks Inc.
• DataRobot Inc.
• apheris AI GmbH
• Databand
• dotData
• Explorium Inc.
• Noogata
• Tecton Inc.
• Amazon Web Services Inc.
• Cloudera Inc.
• Domino Data Lab
The Data Science Platform Market was valued at USD 58.65 Billion in 2022, registering a CAGR of 39.5% during the forecast period (2023-2030), and the market is projected to be worth USD 432.63 Billion by 2030.
Data science platform is a pre-packaged software program that provide capabilities required for whole life cycle for data science project. The platform is used for model distribution, model creation and data exploration. It enables data preparation and visualization trouble free, while offering large scale computing infrastructure.
Data science platform is an essential tool for data scientists to plan strategies and to collect insights from the data. It is considered as a centralized platform which encourages user collaboration. Further, the platform offers open-source tool with significant flexibility to fulfill requirements in training, scaling, and deploying machine learning model. Moreover, advancement in emerging technologies and adoption of cloud-based services are driving the growth of data science platform market. Additionally, implementation of data science software in various industries such as IT & telecommunication, healthcare, Retail and eCommerce and transportation is a key factor to drive the market growth of data science platform. Growing use of social media and IoT devices resulting generation of large volume of structured and unstructured data. The massive data generation fuel the demand of new technologies resulting to drive data science platform market.
Data science platform Market Coverage
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | 432.63 billion |
| CAGR (2023-2030) | 39.5 % |
| Base Year | 2022 |
| By Component | Platform and Services |
| By Organization size | Large enterprises and Small & medium sized enterprises |
| By Deployment mode | Cloud and On-premises |
| By End Use | BFSI, IT and Telecommunication, Retail and eCommerce, Transportation, Healthcare, and Others |
| By Geography | |
| Key Players | Google LLC, Microsoft, IBM, H2O.ai, Alteryx, SAS Institute Inc., The MathWorks Inc, DataRobot Inc., apheris AI GmbH, Databand, dotData, Explorium Inc., Noogata, Tecton Inc., Amazon Web Services Inc., Cloudera Inc. |
Market Dynamics:
Driver:
Rapid growth of big data and utilities offered by data science software program is augmenting the growth of data science platform market.
Rapid growth of big data and utilities offered by data science software program is augmenting the growth of data science platform market.
The process of data collection is rapidly expanding due to the growth of data generating platforms such as social media, IoT and multimedia. Advancement in emerging technologies, adoption of cloud-based services and development of artificial intelligence (AI) are driving the growth of data science platform market. Additionally, implementation of data science platform in various industries such as IT & telecommunication, healthcare, Retail and eCommerce and transportation is a key factor to drive the market growth of data science platform. Hence, increasing volume of business data, emerging technological developments and declining prices of smart devices are driving the growth of data science platform market.
COVID-19 Impact
The COVID-19 pandemic has positively impacted data science platform market. Sudden outbreak of pandemic led to implementation of remote working and increased data applications. The lockdown resulted into rapid digitalization and work from home trend. Thus, data science platform helps for data management and smooth running of various industrial verticals such as BFSI, healthcare, and manufacturing.
Restraint:
High investment cost, data privacy & security, and uncertainty over business problems creates growth hindrance for data science platform market.
High investment cost, data privacy & security, and uncertainty over business problems creates growth hindrance for data science platform market.
Businesses should analyze the challenges before implementing data science platform. Data science platform become less effective if the businesses issues are not rectified. Additionally, high investment cost, data security and need of technical expertise with critical thinking abilities are creating growth hindrance for data science platform market.
Data science platform Market Segmentation:
By Component
The Component segment is bifurcated into Platform and Services.
Platform segment holds major market share for data science platform owing to rising adoption of cloud-based system and data technology by the organizations.
Services segment witness rapid growth of data science platform market. Businesses are implementing data science platform due to rapid adoption of digitalization and automation, which led to large volume of data generation. The service segment of data science platform includes managed services, support & maintenance, and deployment & integration.
By Organization size
The organization size segment is divided into large enterprises and Small & medium sized enterprises.
Large enterprise demonstrates largest revenue share for data science platform market. Adoption of cloud-based system in large enterprises is increasing the implementation of data science platform. The process of data generation and data collection plays major role in large businesses which led to rise the growth of data science platform market.
Small and medium enterprise anticipate fastest growth of data science platform due to rapid digitalization and adoption of emerging technologies. Data science software program helps to collect insights from data. Thus, implementation of data science platform is increasing in SME for data exploration.
By Deployment mode
The Deployment mode segment is categorized into Cloud and On-premises.
On-premises deployment demonstrate largest revenue share for data science platform due to high level of control and security. On-premises deployment mode of data science platform helps enterprises for high regulation of industry verticals such as manufacturing, BFSI, healthcare and life sciences.
Cloud deployment anticipate fastest growth of data science platform owing to rising adoption of advanced technologies such as artificial intelligence (AI) and machine learning (ML). Cloud computing is data storage, data maintenance and data processing via internet or networks of remote server.
By End-User
The End-User segment is categorized into BFSI, IT and Telecommunication, Retail and eCommerce, Transportation, Healthcare, and Others.
BFSI holds major market share for data science platform market due to rapid adoption of emerging technologies for data management and data storage.
Healthcare segment demonstrate rapid growth of data science platform owing to rising adoption of data science software program for medical imaging and advanced healthcare facilities.
By Region
The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
North America has accounted major market share for data science platform. Advancement of technologies, development of artificial intelligence (AI) and rapid digitalization is driving the growth of data science platform market in North America region. Additionally, major players are focusing on development of data science software program. For instance, in 2020, Oracle launched cloud-based data science platform for team security policies, audibility, and reproducibility.
Asia Pacific region witness fastest growth in data science platform market due to growing investments in big data analytics and emerging technologies. Additionally, adoption of emerging technologies and technological developments fuel the growth of data science platform market.
Data Science Platform Services Market Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and End-User launches have accelerated the growth of the Global Data Science Platform Market. Key players in the market include-
• Google LLC
• Microsoft
• IBM
• H2O.ai
• Alteryx
• SAS Institute Inc.
• The MathWorks Inc.
• DataRobot Inc.
• apheris AI GmbH
• Databand
• dotData
• Explorium Inc.
• Noogata
• Tecton Inc.
• Amazon Web Services Inc.
• Cloudera Inc.
• Domino Data Lab
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| Multi User | : $5460 |
| Corporate User | : $7460 |
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