According to a new report Global Data Science Platform Market, published by KBV research, The Global Data Science Platform Market size is expected to reach $165.5 billion by 2026, rising at a market growth of 27% CAGR during the forecast period. The surge in data collection; realization of the significance of data science platform by the companies; and the progression of various innovations, for example, big data analytics, Internet of Things, and artificial intelligence, boost the market development. However, the absence of a skilled workforce and development in concern of data security and protection are foreseen to limit the market development during the forecast period.
The marketing and sales segment represented the biggest income share in 2019. Based on application, the market is divided into marketing and sales, logistics, finance and accounting, client support, and others. The biggest share of revenue of the marketing and sales segment is because of the numerous benefits offered, for example, utilizing data science, the marketing and sales department can get more insights into the purchaser's persona and spend marketing budget, in like manner, subsequently creating more Return on Investment (ROI).
The logistics segment is utilizing the platform to optimize the supply chain process. It assists in creating insights from data gathered from transportation, inventory, and everything in the middle of them and afterward assists with identifying trends that will affect the complete supply chain. To extract greater value from data, the finance and accounting sector is also utilizing the platform. Accounting firms, CFOs, and others are utilizing innovation to expand their analytics and data governance capacities.
The platforms segment represented the biggest revenue share in 2019. This is because of the growing adoption of data since technology across large and medium enterprises. Based on the components, the market is divided into platforms and services.
North America represented the biggest income share in 2019. This is because of a rising spotlight on these platforms' further headways by key market major parts in the district. The market in Europe held the second-most noteworthy offer in 2019. As data-driven advanced change is rising, a more noteworthy number of organizations in the area are receiving the innovation to drive development. The market in the Asia Pacific is required to enlist the most noteworthy CAGR in the figure time frame. Improved lifetime esteem, cost of obtaining, and client maintenance are factors driving this development.
Structural Insights: https://www.kbvresearch.com/data-science-platform-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Microsoft Corporation, Google, Inc., SAP SE, Altair Engineering, Inc., Alteryx, Inc., Cloudera, Inc., The MathWorks, Inc., SAS Institute, Inc., and RapidMiner, Inc.
By Component
By Deployment Type
By Enterprise Size
By Application
By End-User
By Geography
Companies Profiled
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