Data Science Platform Market Research Report - Global Forecast to 2027

Global data science platform market research report: by business function (marketing, sales, logistics, human resources), deployment (on-demand, on-premises), vertical (BFSI, healthcare, retail, IT, transportation) – Forecast till 2027

ID: MRFR/ICT/3763-HCR | February 2021 | Region: Global | 100 pages

Market Overview


A framework that consists of the life cycle of data science and its related projects is termed a data science platform. All the tools required to execute the process of the data science project spread across different stages like integration, ideation, and implementation are present in the data science platform. In addition, it enables the organizations to analyze their status in terms of tracking, shares, and much more. However, all these jobs involve a lot of effort, both mechanically and technically. Therefore, the platform tends to provide a competitive race to the teams to work even more effectively.


The data science platform has been helping companies to build models and operationalize analytical data. In addition, the platform has also been aiding high-end collaborations with business analysts, data scientists, developers, and even data engineers. As a result, the market has been witnessing tremendous growth over the past few years.


COVID-19 Analysis


COVID-19 has brought some severe consequences to all businesses around the globe. There is hardly any organization that the scary clutches of the pandemic have spared. The Data Science Platform Market Research Report prepared by the industry experts results from a thorough study and Data Science Platform Market Analysis. The qualitative and quantitative aspects of the DSP Market and the current Data Science Platform Industry scenarios have been discussed in the reports, keeping because of the pandemic's effects on the industry.


 While no one is certain about the end of the pandemic, the businesses need to ensure that the working pattern is changed according to recent times to make the smooth running of the business possible. The losses that the companies had to face need to be overcome too. The steps discussing all these details are included in the exclusive report.


Market Dynamics


Growth


The data science platform is expected to grow considerably over the coming forecast period. The market is expecting a CAGR of 29% during the forecast period. Also, the market valuation is expected to reach USD 115 billion during the forecast period.


Drivers


There are primary factors that have been causing the increased growth of the market. This is:


An increase in the demand for analytical tools is one of the major factors driving the growth of the Data Science Platform Market to a great extent. It helps the users shape, control, and measure the data and helps in the formation of strategies for their organizations.


Restrains


The major restraint causing the hampered growth of the Data Science Platform Business is the lack of professionals with desired skills for the data science platform market. Data scientists are the ones who are skilled enough to tackle all such areas, and this lack of human resources with much-needed skills would also affect the growth of the Data Science Platform Business during the forecast period.


Regulatory implications


Regulatory implications tend to produce a direct effect on the growth of the Global Data Science Platform Market. However, the rules and laws differ from region to region, but the focus is mainly on the privacy and security of the data. Data is one of the significant assets that an organization has, and it would demand high-end protection of its data. Any breach can cause them enormous losses. While the laws focus on ensuring that there is no such breach, stringency in the laws is indeed the need of the hour.


Companies have also been taking good care of such laws to maintain the standards in the DSP Market.



Data Science Platform Market Image 
 


Segmentation Overview


The data science platform market can be divided into the following:



  • Based on the business functions

  • Based on the deployment model

  • Based on the industry verticals

  • Based on the business functions


Based on the business functions, the Data Science Platform Industry can further be segmented into the following:



  • Marketing

  • Sales

  • Human resource

  • Operations

  • Risk management

  • Logistics


Based on the deployment


Based on the deployment, the Market Segments are as follows:



  • On-demand

  • On-premise


Based on the industry vertical


Based on the industry vertical, the Market can further be divided into the following:



  • Retail

  • BFSI

  • IT

  • Healthcare

  • Energy and utilities

  • Transportation

  • Government

  • Defense


Regional analysis


The data science platform market can be divided into the following segments according to the regions.



  • Europe

  • North America

  • Asia Pacific

  • Rest of the world


The region that holds the maximum share in North America is attributed to the increased capital investments in the region. Therefore, the data science platform is being looked at as the platform that helps the companies to have a competitive edge among the other organizations in the Global Data Science Platform Market.


They are projected to witness the highest growth in Asia pacific. Factors like growth in industrialization and increased digitization are responsible for the fast growth. Also, support from the government in the region has been bringing growth in the Data Science Platform Business.


Competitive landscape


The Data Science Platform Market Top Players are Microsoft Corporation (U.S.), Continuum Analytics, Inc. (U.S.), IBM Corporation (U.S.), Alteryx, Inc. (U.S.), Google, Inc. (U.S.), Dataiku (France), Wolfram (U.S.), .), Domino Data Lab (U.S.), Data Robot Inc. (U.S.), RapidMiner Inc. (U.S ) and Sense Inc. (U.S.).


All the Market Top Players have focused on bringing growth to the market by introducing various technological advancements that improve the quality and take care of the cost. In addition, various collaborations, mergers, and acquisitions between the players have helped the market reach heights of success. They have also been helping the newcomers understand the depth of the market and help them flourish.


Recent Developments



  • Here are some of the recent developments in the data science platform market:

  • Microsoft Machine learning Server 9.4 was released by Microsoft in July 2019 to provide a platform for Python function libraries and data science. It also has updates available for R and Python with the extra support of CDH 6.1 and Spark 2.4

  • IBM data science and business analytics platform was launched by IBM in August 2019, including IBM decision optimization for the private cloud. Also, IBM SPSS Modeler, formerly called IBM performance management advanced, was another significant step towards introducing the latest technology in the Data Science Platform Market Segments.

  • Google launched the AI Platform in April 2019. This platform makes the task of ML projects easier. It contains a toolchain that is integrated and assists in the formation and running of ML applications.

  • The companies have focused on bringing the most recent technology to provide a high-quality product at pocket-friendly costs.

  • Technologies like TFX and TPUs are a few of the technologies that come under Google's AL and have resulted in significant advancement in the technology in the market.


Report Overview


The industry experts' exclusive Data Science Platform Market Research Report has every element that an organization would require to run as efficiently and smoothly as possible. The report contains discussion points like an overview of the market and the Data Science Platform Market Analysis based on comparing the pre and post covid times. It also has the industry's market dynamics explained well, including the points like growth, drivers, and the restraints hampering the market's growth. The regulatory implications of the market have also been discussed in detail.


The market segmentation based on the business functions, deployment, industry verticals, and regions has also been discussed. The major players in the market with the strategies they have been implementing to get to the top have also been part of the report. The recent advancements in the market, which have also been discussed, helps the companies to stay up to date in the market and follow the implantation of such technologies in their respective companies.



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 115 Billion (2023)
  CAGR   29% (2020-2023)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by business, deployment
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Microsoft Corporation (U.S.), IBM Corporation (U.S.), Google, Inc. (U.S.), Wolfram (U.S.), DataRobot Inc. (U.S.), Sense Inc. (U.S.), RapidMiner Inc. (U.S.), Domino Data Lab (U.S.), Dataiku (France), Alteryx, Inc. (U.S.), and Continuum Analytics, Inc. (U.S.).
  Key Market Opportunities

  • Increase in data collection & analysis from mobile devices, advancement of big data technologies, growing concern of data security & protection, and high initial investments. \r\n
  • These factors are significantly contributing to the growth of the data science platform market and are estimated to impact the market growth during the forecast period.
  •   Key Market Drivers   Data science platform can improve analysis of available data of an enterprise that can improve productivity of an enterprise. This can impel the growth of data science platform market.


    Frequently Asked Questions (FAQ) :


    At 29%, the data science platform market is expected to surge from 2017 to 2023.

    By 2023, the data science platform market can generate substantial valuation, reveals MRFR.

    IBM Corporation (U.S.), Wolfram (U.S.), Google, Inc. (U.S.), Sense Inc. (U.S.), and DataRobot Inc. (U.S.) are some reputed organisations in the data science platform market.

    Data science platform can improve analysis of available data of an enterprise that can improve productivity of an enterprise. This can impel the growth of data science platform market.

    In APAC, rapid industrialization can prompt the regional data science platform market growth.

    TABLE OF CONTENTS

    1 Executive Summary

    2 Scope of the Report

    2.1 Market Definition

    2.2 Scope of the Study

    2.2.1 Research Objectives

    2.2.2 Assumptions & Limitations

    2.3 Markets Structure

    3 Market Research Methodology

    3.1 Research Process

    3.2 Secondary Research

    3.3 Primary Research

    3.4 Forecast Model

    4 Market Landscape

    4.1 Porter’s Five Forces Analysis

    4.1.1 Threat of New Entrants

    4.1.2 Bargaining power of buyers

    4.1.3 Threat of substitutes

    4.1.4 Segment rivalry

    4.2 Value Chain/Supply Chain of Global Data Science Platform Market

    5 Industry Overview of Global Data Science Platform Market

    5.1 Introduction

    5.2 Growth Drivers

    5.3 Impact analysis

    5.4 Market Challenges

    6 Market Trends

    6.1 Introduction

    6.2 Growth Trends

    6.3 Impact analysis

    7. Global Data Science Platform Market by Business Type

    7.1 Introduction

    7.2 Marketing

    7.2.1 Market Estimates & Forecast, 2020-2027

    7.2.2 Market Estimates & Forecast by Region, 2020-2027

    7.3 Sales

    7.3.1 Market Estimates & Forecast, 2020-2027

    7.3.2 Market Estimates & Forecast by Region, 2020-2027

    7.4 Logistics

    7.4.1 Market Estimates & Forecast, 2020-2027

    7.4.2 Market Estimates & Forecast by Region, 2020-2027

    7.5 Human Resources

    7.5.1 Market Estimates & Forecast, 2020-2027

    7.5.2 Market Estimates & Forecast by Region, 2020-2027

    7.6 Operations

    7.6.1 Market Estimates & Forecast, 2020-2027

    7.6.2 Market Estimates & Forecast by Region, 2020-2027

    7.7 Risk Management

    7.7.1 Market Estimates & Forecast, 2020-2027

    7.7.2 Market Estimates & Forecast by Region, 2020-2027

    7.8 Customer Support

    7.8.1 Market Estimates & Forecast, 2020-2027

    7.8.2 Market Estimates & Forecast by Region, 2020-2027

    7.9 Others

    7.9.1 Market Estimates & Forecast, 2020-2027

    7.9.2 Market Estimates & Forecast by Region, 2020-2027

    8. Global Data Science Platform Market by Deployment

    8.1 Introduction

    8.2 On-Demand

    8.2.1 Market Estimates & Forecast, 2020-2027

    8.2.2 Market Estimates & Forecast by Region, 2020-2027

    8.3 On-Premise

    8.3.1 Market Estimates & Forecast, 2020-2027

    8.3.2 Market Estimates & Forecast by Region, 2020-2027

    9. Global Data Science Platform Market by Vertical

    9.1 Introduction

    9.2 Healthcare

    9.2.1 Market Estimates & Forecast, 2020-2027

    9.2.2 Market Estimates & Forecast by Region, 2020-2027

    9.3 BFSI

    9.3.1 Market Estimates & Forecast, 2020-2027

    9.3.2 Market Estimates & Forecast by Region, 2020-2027

    9.4 Defense & government

    9.4.1 Market Estimates & Forecast, 2020-2027

    9.4.2 Market Estimates & Forecast by Region, 2020-2027

    9.5 Retail

    9.5.1 Market Estimates & Forecast, 2020-2027

    9.5.2 Market Estimates & Forecast by Region, 2020-2027

    9.6 Energy & Utilities

    9.6.1 Market Estimates & Forecast, 2020-2027

    9.6.2 Market Estimates & Forecast by Region, 2020-2027

    9.7 Transportation

    9.7.1 Market Estimates & Forecast, 2020-2027

    9.7.2 Market Estimates & Forecast by Region, 2020-2027

    9.8 Others

    9.8.1 Market Estimates & Forecast, 2020-2027

    9.8.2 Market Estimates & Forecast by Region, 2020-2027

    10. Global Data Science Platform Market by Region

    10.1 Introduction

    10.2 North America

    10.2.1 Market Estimates & Forecast, 2020-2027

    10.2.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.2.3 Market Estimates & Forecast by Vertical, 2020-2027

    10.2.4 Market Estimates & Forecast by Deployment, 2020-2027

    10.2.5 U.S.

    10.2.5.1 Market Estimates & Forecast, 2020-2027

    10.2.5.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.2.5.3 Market Estimates & Forecast by Vertical, 2020-2027

    10.2.5.4 Market Estimates & Forecast by Deployment, 2020-2027

    10.2.6 Mexico

    10.2.6.1 Market Estimates & Forecast, 2020-2027

    10.2.6.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.2.6.3 Market Estimates & Forecast by Vertical, 2020-2027

    10.2.6.4 Market Estimates & Forecast by Deployment, 2020-2027

    10.2.7 Canada

    10.2.7.1 Market Estimates & Forecast, 2020-2027

    10.2.7.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.2.7.3 Market Estimates & Forecast by Vertical, 2020-2027

    10.2.7.4 Market Estimates & Forecast by Deployment, 2020-2027

    10.3 Europe

    10.3.1 Market Estimates & Forecast, 2020-2027

    10.3.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.3.3 Market Estimates & Forecast by Vertical, 2020-2027

    10.3.4 Market Estimates & Forecast by Deployment, 2020-2027

    10.3.5 Germany

    10.3.5.1 Market Estimates & Forecast, 2020-2027

    10.3.5.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.3.5.3 Market Estimates & Forecast by Vertical, 2020-2027

    10.3.5.4 Market Estimates & Forecast by Deployment, 2020-2027

    10.3.6. France

    10.3.6.1 Market Estimates & Forecast, 2020-2027

    10.3.6.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.3.6.3 Market Estimates & Forecast by Vertical, 2020-2027

    10.3.6.4 Market Estimates & Forecast by Deployment, 2020-2027

    10.3.7 Italy

    10.3.7.1 Market Estimates & Forecast, 2020-2027

    10.3.7.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.3.7.3 Market Estimates & Forecast by Vertical, 2020-2027

    10.3.7.4 Market Estimates & Forecast by Deployment, 2020-2027

    10.3.8 Spain

    10.3.8.1 Market Estimates & Forecast, 2020-2027

    10.3.8.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.3.8.3 Market Estimates & Forecast by Vertical 2020-2027

    10.3.8.4 Market Estimates & Forecast by Deployment, 2020-2027

    10.3.9 U.K

    10.3.9.1 Market Estimates & Forecast, 2020-2027

    10.3.9.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.3.9.3 Market Estimates & Forecast by Vertical, 2020-2027

    10.3.9.4 Market Estimates & Forecast by Deployment, 2020-2027

    10.4 Asia Pacific

    10.4.1 Market Estimates & Forecast, 2020-2027

    10.4.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.4.3 Market Estimates & Forecast by Vertical, 2020-2027

    10.4.4 Market Estimates & Forecast by Deployment, 2020-2027

    10.4.5 China

    10.4.5.1 Market Estimates & Forecast, 2020-2027

    10.4.5.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.4.5.3 Market Estimates & Forecast by Vertical, 2020-2027

    10.4.5.4 Market Estimates & Forecast by Deployment, 2020-2027

    10.4.6 India

    10.4.6.1 Market Estimates & Forecast, 2020-2027

    10.4.6.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.4.6.3 Market Estimates & Forecast by Vertical, 2020-2027

    10.4.6.4 Market Estimates & Forecast by Deployment, 2020-2027

    10.4.7 Japan

    10.4.7.1 Market Estimates & Forecast, 2020-2027

    10.4.7.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.4.7.3 Market Estimates & Forecast by Vertical, 2020-2027

    10.4.7.4 Market Estimates & Forecast by Deployment, 2020-2027

    10.4.8 Rest of Asia Pacific

    10.4.8.1 Market Estimates & Forecast, 2020-2027

    10.4.8.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.4.8.3 Market Estimates & Forecast by Vertical, 2020-2027

    10.4.8.4 Market Estimates & Forecast by Deployment, 2020-2027

    10.5 Rest of the world

    10.5.1 Market Estimates & Forecast, 2020-2027

    10.5.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.5.3 Market Estimates & Forecast by Vertical, 2020-2027

    10.5.4 Market Estimates & Forecast by Deployment, 2020-2027

    10.5.5 The Middle East & Africa

    10.5.5.1 Market Estimates & Forecast, 2020-2027

    10.5.5.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.5.5.3 Market Estimates & Forecast by Vertical, 2020-2027

    10.5.5.4 Market Estimates & Forecast by Deployment, 2020-2027

    10.5.6 Latin Countries

    10.5.6.1 Market Estimates & Forecast, 2020-2027

    10.5.6.2 Market Estimates & Forecast by Business Type, 2020-2027

    10.5.6.3 Market Estimates & Forecast by Vertical, 2020-2027

    10.5.6.4 Market Estimates & Forecast by Deployment, 2020-2027

    11. Company Landscape

    12. Company Profiles

    12.1 Microsoft Corporation (U.S.)

    12.1.1 Company Overview

    12.1.2 Deployment/Business Segment Overview

    12.1.3 Financial Updates

    12.1.4 Key Developments

    12.2 IBM Corporation (U.S.)

    12.2.1 Company Overview

    12.2.2 Deployment/Business Segment Overview

    12.2.3 Financial Updates

    12.2.4 Key Developments

    12.3 Google, Inc. (U.S.)

    12.3.1 Company Overview

    12.3.2 Deployment/Business Segment Overview

    12.3.3 Financial Updates

    12.3.4 Key Developments

    12.4 Wolfram (U.S.)

    12.4.1 Company Overview

    12.4.2 Deployment/Business Segment Overview

    12.4.3 Financial Updates

    12.4.4 Key Developments

    12.5 DataRobot Inc. (U.S.)

    12.5.1 Company Overview

    12.5.2 Deployment/Business Segment Overview

    12.5.3 Financial Updates

    12.5.4 Key Developments

    12.6 Sense Inc. (U.S.)

    12.6.1 Company Overview

    12.6.2 Deployment/Business Segment Overview

    12.6.3 Financial Updates

    12.6.4 Key Developments

    12.7 RapidMiner Inc. (U.S.)

    12.7.1 Company Overview

    12.7.2 Deployment/Business Segment Overview

    12.7.3 Financial Updates

    12.7.4 Key Developments

    12.8 Domino Data Lab (U.S.)

    12.8.1 Company Overview

    12.8.2 Deployment/Business Segment Overview

    12.8.3 Financial Updates

    12.8.4 Key Developments

    12.9 Dataiku (France)

    12.9.1 Company Overview

    12.9.2 Deployment/Business Segment Overview

    12.9.3 Financial Updates

    12.9.4 Key Developments

    12.10 Alteryx, Inc. (U.S.)

    12.10.1 Company Overview

    12.10.2 Deployment/Business Segment Overview

    12.10.3 Financial Updates

    12.10.4 Key Developments

    13 Conclusion


    LIST OF TABLES

    Table 1 Global Data Science Platform Market: By Region, 2020-2027

    Table 2 North America Data Science Platform Market: By Country, 2020-2027

    Table 3 Europe Data Science Platform Market: By Country, 2020-2027

    Table 4 Asia-Pacific Data Science Platform Market: By Country, 2020-2027

    Table 5 Middle East & Africa Data Science Platform Market: By Country, 2020-2027

    Table 6 Latin America Data Science Platform Market: By Country, 2020-2027

    Table 7 Global Data Science Platform by Business Type Market: By Regions, 2020-2027

    Table 8 North America Data Science Platform by Business Type Market: By Country, 2020-2027

    Table 9 Europe Data Science Platform by Business Type Market: By Country, 2020-2027

    Table10 Asia-Pacific Data Science Platform by Business Type Market: By Country, 2020-2027

    Table11 Middle East & Africa Data Science Platform by Business Type Market: By Country, 2020-2027

    Table12 Latin America Data Science Platform by Business Type Market: By Country, 2020-2027

    Table13 Global Data Science Platform by Deployment Market: By Regions, 2020-2027

    Table14 North America Data Science Platform by Deployment Market: By Country, 2020-2027

    Table15 Europe Data Science Platform by Deployment Market: By Country, 2020-2027

    Table16 Asia-Pacific Data Science Platform by Deployment Market: By Country, 2020-2027

    Table17 Middle East & Africa Data Science Platform by Deployment Market: By Country, 2020-2027

    Table18 Latin America Data Science Platform by Deployment Market: By Country, 2020-2027

    Table19 North America Data Science Platform for Form Market: By Country, 2020-2027

    Table20 Europe Data Science Platform for Form Market: By Country, 2020-2027

    Table21 Asia-Pacific Data Science Platform for Form Market: By Country, 2020-2027

    Table22 Middle East & Africa Data Science Platform for Form Market: By Country, 2020-2027

    Table23 Latin America Data Science Platform for Form Market: By Country, 2020-2027

    Table24 Global Business Type Market: By Region, 2020-2027

    Table25 North America Data Science Platform Market, By Country

    Table26 North America Data Science Platform Market, By Business Type

    Table27 North America Data Science Platform Market, By Deployment

    Table28 North America Data Science Platform Market, By Vertical

    Table29 Europe: Data Science Platform Market, By Country

    Table30 Europe: Data Science Platform Market, By Business Type

    Table 31 Europe: Data Science Platform Market, By Deployment

    Table32 Europe Data Science Platform Market, By Vertical

    Table33 Asia-Pacific: Data Science Platform Market, By Country

    Table34 Asia-Pacific: Data Science Platform Market, By Business Type

    Table 35 Asia-Pacific: Data Science Platform Market, By Deployment

    Table36 Asia-Pacific Data Science Platform Market, By Vertical

    Table37 Middle East & Africa: Data Science Platform Market, By Country

    Table38 Middle East & Africa Data Science Platform Market, By Business Type

    Table39 Middle East & Africa: Data Science Platform Market, By Deployment

    Table40 Middle East & Africa Data Science Platform Market, By Vertical

    Table41 Latin America: Data Science Platform Market, By Country

    Table42 Latin America Data Science Platform Market, By Business Type

    Table43 Latin America: Data Science Platform Market, By Deployment

    Table44 Latin America Data Science Platform Market, By Vertical

    LIST OF FIGURES

    FIGURE 1 Global Data Science Platform Market segmentation

    FIGURE 2 Forecast Methodology

    FIGURE 3 Five Forces Analysis of Global Data Science Platform Market

    FIGURE 4 Value Chain of Global Data Science Platform Market

    FIGURE 5 Share of Global Data Science Platform Market in 2020, by country (in %)

    FIGURE 6 Global Data Science Platform Market, 2020-2027,

    FIGURE 7 Sub segments of Business Type

    FIGURE 8 Global Data Science Platform Market size by Business Type, 2020

    FIGURE 9 Share of Global Data Science Platform Market by Business Type, 2020 TO 2027

    FIGURE 10 Global Data Science Platform Market size by Deployment, 2020 TO 2027

    FIGURE 11 Share of Global Data Science Platform Market by Deployment, 2020 TO 2027

    FIGURE 12 Global Data Science Platform Market size by vertical, 2020 TO 2027

    FIGURE 13 Share of Global Data Science Platform Market by Vertical, 2020 TO 2027