Data Science Platform Market Outlook by Top Leading Players are Microsoft, IBM, Wolfram, DataRobot, RapidMiner, Domino Data Lab and Alteryx

Data Science Platform Market

Global Data Science Platform market worth $1,95,677.5 million in 2016.

The study reveals that the global data science platform market is likely to grow from $19,447.0 million in 2016 to $1,95,677.5 million by 2023. Due to significant growth in technologies such as IoT and advancement in big data analytics, the global data science platform market in gaining traction.

Insights on market segments

As per the findings of the research, based on business functions, logistics led the global data science platform market in 2016. Among deployment types, on-premise deployment witnessed the higher growth in demand of data science platform in 2016. Among the industry verticals, demand for data science platform from healthcare industry is expected to generate largest revenue for the global data science platform market during the forecast period, however, the demand is expected to grow at the fastest rate from transportation and logistics industry in the coming years.

Geographically, North America has been the largest market for data science platform, whereas Asia-Pacific is expected to witness highest growth among all regions due to growth of digitalization, smart city initiatives by various governments, increase in foreign direct investment (FDI) for smart technologies, and adoption of big data analytics at a significant growth rate in the region. Further, due to the growing economic prosperity of Asia and improving technology infrastructure, the region has high tendency to adopt data science platform solution at a rapid scale in near future.

The logistics business function held the largest market during 2013-2026. Data science in logistics is gaining significant interest from enterprises and corporates to address number of critical business queries that deliver valuable insights to the top management and help in maximizing return on investment (RoI). Factors driving the growth of data science platform market in logistics include higher customer satisfaction, seamless global expansion, robust transport network, and effective delivery system.

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The evolution of internet of things (IoT) and related connected technologies generates massive amount of data through device such as smartphones, routers, and switches. Rapid advancement in big data analytics has made organizations realize the benefits of dealing with the structured and unstructured data to produce actionable insights, which are valuable for business continuity.

MARKET SEGMENTATION

By Business Function

Logistics

Marketing

Sales

Customer Support

Human Resource

Others

By Deployment Type

On-Premise

On-Demand

By Industry Vertical

BFSI

Health and Life Sciences

IT and Telecom

Retail and Consumer Goods

Media and Entertainment

Manufacturing

Transportation and Logistics

Others

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The research states that the global data science platform market is moderately competitive with players continuously upgrading their offerings according to the market dynamics. Some of the key players in the data science platform ecosystem offering various product and services are Microsoft Corporation, Goggle, Inc., IBM Corporation, Wolfram, DataRobot Inc., Sense Inc., RapidMiner Inc., Domino Data Lab, and, Alteryx, Inc.

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