HOME › Press Releases › Data Science Platform Market worth 101.37 Billion USD by 2021
Data Science Platform Market worth 101.37 Billion USD by 2021
The report "Data Science Platform Market by Business Function (Marketing, Sales, Logistics, Risk, Customer Support, Human Resources, & Operations), Deployment Model, Vertical, and Region - Global Forecast to 2021", The data science platform market is estimated to grow from USD 19.58 Billion in 2016 to USD 101.37 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 38.9%. Enterprises are focusing on methods enabling simpler use of data to drive their business and advancement in big data technologies and these are the key driving forces of the data science platform market.
Browse 44 market data tables and 43 figures spread through 137 pages and in-depth TOC on “Data Science Platform Market by Business Function (Marketing, Sales, Logistics, Risk, Customer Support, Human Resources, & Operations), Deployment Model, Vertical, and Region - Global Forecast to 2021"
Early buyers will receive 10% customization on reports.
The logistics business function is expected to grow at the highest CAGR during the forecast period
The logistics business function is expected to have the largest market share, as well as, the highest growth rate. Most of the enterprises are embracing revered data science platforms to ingest data from numerous sources. These data science platforms have helped enterprises to address the business queries with the help of actionable insights delivered as an end result from data science platform solutions. This has led enterprises to enhance and maximize their Return on Investment (ROI). Moreover, data science platform also helps sort data to support efficient network planning and network optimization through analysis of historical data of transportation routes.
The on-demand deployment model to grow at the highest CAGR during the forecast period
The market by deployment model has been segmented into on-premises and on-demand model. The on-demand deployment model is expected to witness the highest CAGR during the forecast period. The on-demand deployment model will gain traction in the future, owing to low operational expenses, ease of deployment, and improved scalability & integration.
North America is expected to dominate the data science platform market during the forecast period
The data science platform market segments the global market on the basis of regions, which includes North America, Asia-Pacific (APAC), Europe, Middle East & Africa (MEA), and Latin America. North America is expected to hold the largest share of the data science platform market in 2016, due to the presence of large enterprises, technical experts, and growing demands for data science platform in this region. The market in APAC is expected to grow at the highest CAGR between 2016 and 2021. The APAC market is expected to adopt data science platform significantly, owing to increased Foreign Direct Investments (FDIs), flexible government policies advocating the growth of digitalization, industrialization, and smart city initiatives by various governments, which will be instrumental in adoption of the technology by leaps and bounds.
The report also encompasses different strategies, such as acquisitions, partnerships & collaborations, and product developments, adopted by major players to increase their shares in the market. Some of the major technology vendors include 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.).
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India