Global Data Science Platform Market: Overview
With more companies recognizing the need for a data science platform – an upcoming technology – its market is slated to grow at a good clip in the near future. A data science platform essentially provides tools to integrate and explore data from different sources and create and implement models. It helps to keep data science work transparent, reproducible, and scalable. A data science platform can be deployed either on-premise or on-demand. The latter is expected to see higher uptake in the near future due to low cost of operation, ease of deployment, and improved scalability and integration.
A report by Transparency Market Research offers essential information about the global market for data science platform. It does so by offering essential insights into market dynamics and the extent to which they impact the growth of the market. It also presents a granular analysis of the factors promoting or hindering it. Further, the report profiles leading companies in the market and discusses their cost and revenue structure, business strategies, market shares, competitive edge, and operations. Further, the report leverages market-leading analytical tools to gauge the various threats and opportunities awaiting the key players.
Global Data Science Platform Market: Trends and Opportunities
Advanced analytics and predictive modeling have gained traction these days among savvy businesses wanting to strategize carefully to deliver value to customers. However, higher investment in big data and data science hasn’t actually bore fruit for companies in the way it should. The reason: Ineffective data science workflow with data scientists working across many disconnected tools, while trying to manage the humungous data pool, dearth of engineering support, and inability to operationalize their output. A data science platform helps to tackle such challenges by providing tools needed to build, socialize, and deploy data science projects in one place. On account of such advantages, the global market for data science platform is slated to expand at a breakneck pace in the years to come.
A global data science platform can perform functions such as logistics, marketing, human resources, sales, risk, logistics, customer support, and operations. Logistics, among them, accounts for a leading market share as they allow entities to draw data from numerous sources. Data science platforms have aided organizations to answer business queries with proper inputs arrived at through them. Further, data science platform also helps support effective network planning and network optimization through actionable insights derived from historical data of transportation routes.
Some of the end-use industries resulting in its swift uptake are information and telecom, banking, financial services, and insurance, transportation and logistics, healthcare and life sciences, energy and utilities, media and entertainment, manufacturing, government and defense, retail and consumer goods, and energy and utilities, among others.
Global Data Science Platform Market: Regional Outlook
From a geographical standpoint, North America is a key market on account of the concentration of key market players in the two continents and a large number of savvy organizations who have been quick to adopt new technologies. In the next couple of years, however, Asia Pacific is slated to clock maximum growth because of higher Foreign Direct Investments (FDIs), government policies stoking digitalization, smart city initiatives, and industrialization.
Companies Mentioned in the Report
Some of the noteworthy companies competing in the global market for data science platform, profiled in the report are IBM, Microsoft Corporation, Wolfram, DataRobot Inc., Sense Inc., RapidMiner Inc., Domino Data Lab, Dataiku, Alteryx, Inc., and Continuum Analytics, Inc.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
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