Data Science Platform Market

Market Leader - Data Science Platform Market

Enterprises now, more than ever are realizing the benefits of analyzing their massive data pools, and thus are quickly adopting data analytics tools to do so. Taking one step ahead in this pursuit, data science platform is gaining traction in several industries. Enterprises are adopting data science platform to improve their operational efficiency and serve their customers much better, by adopting a single comprehensive platform for all their end-to-end data processing requirements. Factors such as demand for easy-to-use automated tools for processing data by enterprise and advancement in data science technologies, such as big data & machine learning are fueling the data science platform market. The global market size for data science platform is projected to reach USD 101.37 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 38.9% during the forecast period from 2016 to 2021.

Various vendors prevailing in this marketspace include IBM Corporation (U.S.), Microsoft Corporation (U.S.), RapidMiner, Inc. (U.S.), Dataiku (France), DataRobot, Inc. (U.S.), Sense, Inc. (Acquired by Cloudera, U.S.), Alteryx, Inc. (U.S.), Wolfram (U.S.), Domino Data Lab (U.S.), Google, Inc. (U.S.), and Continuum Analytics, Inc. (U.S.). Players in this market have adopted different strategies to strengthen their global presence and expand their market shares. Partnerships, collaborations, and agreements, followed by new product launches are the growth strategies majorly adopted by the vendors in this market. Microsoft Corporation and Alteryx, Inc. have frequently partnered with other players in this market to enhance their product portfolio, so as to cater to their clients efficiently in the data science platform market.

Microsoft Corporation is an established global player offering dedicated software, hardware, and related services. The company has been continuously innovating in the big data and analytics space, following its cloud first and mobile first strategy. It has been continuously developing and acquiring the necessary capabilities to lead in the big data and analytics space. Microsoft, while seeking overall growth, relies on betterment and expansion of its strategic imperatives. By 2016, the company invested USD 14.05 Billion in Research and Development (R&D) to enhance its existing product portfolio and to introduce new products into the big data & analytics space. The company has frequently partnered with other players in this market space, as well as, acquired small but significant players, such as revolution analytics and Metanautix.

Alteryx, Inc. is the provider of data blending and advanced data analytics software. It has partnered with various technology players in this marketspace. For instance, in March 2016, Alteryx extended its partnership with Microsoft to empower data analysts with a better way to easily prepare, blend, and analyze data, using Alteryx Designer in a pre-configured virtual machine that will run on Microsoft Azure. It also focuses on organic growth by providing regular updates and few new product launches in the data science platform market. In February 2016, the company launched Predictive Analytics District in the Alteryx Analytics Gallery to make predictive analytics more accessible to data analysts through new tools, samples, and analytic applications.

Related Reports:

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

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Report Code
TC 5003
RI Published ON
2/10/2017
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