Data Science Platform Market Will Reach USD 403.01 Bn By 2028, With 27.30 % CAGR - Credence Research
The key players in the global Data Science Platform market in terms of value include IBM(US), Google(US), Microsoft(US), SAS(US), DotData (US), SAP (US), Spell (US), AWS(US), Cloudera (US), Comet (US), TIBCO (US), MathWorks (US), Alteryx (US), RapidMiner (US), Snowflake (US), Databricks (US), H2O.ai (US), Noogata (US), Tecton (US), Altair (US), and Iterative (US).
The latest market report published by Credence Research?“Global Data Science Platform Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028″. The?Global Data Science Platform Market generated revenue of around USD 94.7 billion in 2021 and is anticipated to grow a CAGR of over 27.30 % during the forecast period from 2022 to 2028 to reach around USD 403.01 billion in 2028. While cumulative growth opportunity presented by the global Data Science Platform market is around USD 308.31 billion from 2022 to 2028.
Greater investments in research and development have led to the rapid evolution of technology. As a result, the need for technologies that can increase productivity and efficiency grows as businesses grow. The use of platforms and software is expanding as a result of the popularity of technologies like machine learning (ML), artificial intelligence (A.I.), and the internet of things (IoT). Modern data handling systems and solutions are crucial for corporate expansion as data volumes continue to rise. As machine learning becomes more prevalent, data science platforms that make it easier to design, train, scale, and deploy ML models are needed. Machine learning and artificial intelligence also drive data science and data management.
The global Data Science Platform market is bifurcated into Component, Deployment Mode, Organization Size, Business Function, Vertical, and Geography. Based on components, the market is categorized into platforms and services. On the basis of deployment mode, the global market is segmented into cloud and on-premises. Based on organization size, the market is categorized into small and medium-sized enterprises and large enterprises. Based on business function, the global market is segmented into marketing, sales, logistics, finance and accounting, customer support, and other business functions (HR and operations). On the basis of vertical, the global market is segmented into BFSI, retail and eCommerce, telecom and IT, media and entertainment, healthcare and life sciences, government and defense, manufacturing, transportation and logistics, energy and utilities, and other verticals (travel and hospitality, and education and research). Finally, based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
North America dominated the global market for data science platforms in 2021 and accounted for a sizable portion of market revenue. Because of significant businesses, technical know-how, and expanding need for data science platforms in the area. The United States produces about 1.2 billion clinical papers yearly, giving medical practitioners and researchers access to substantial data. The area’s broad use of wearable technology has also made a vast amount of health-related information readily available, opening up new possibilities for developing a sophisticated, informed healthcare system.?
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