Data Science Platform Market by Type (Solutions and Services) by End Use (Telecommunication, BFSI, Healthcare, Transport and Logistics, Manufacturing, and Others), Regional Outlook (North America, Europe, Asia-Pacific, LAMEA), Global Opportunity Analysis and Industry Forecast, 2019–2026

Global Data Science Platform Market Insights 2026:

The data science platform market was $25.7 billion in 2018 and is predicted reach revenue of $224.3 billion by 2026, growing at a CAGR of 31.1% in the forecast period. North America market was $9.8 billion in 2018 and is predicted to generate a revenue of $80.3 billion by 2026. Asia-Pacific region was $5.2 billion in 2018 and is predicted to generate a revenue of $48.0 billion by 2026. 

Data science is the study of data which involves developing methods of recording, storing and analyzing data so that one can extract the necessary information, which can help the organization to take necessary decisions. Data science involves obtaining meaningful insights from raw and unstructured data which is processed through programming and analytical and business skills. The principal purpose of the data science is to find the pattern within the data, which uses various statistical techniques to analyze and draw insights from the data. The goal of data science is to derive conclusion from the data.

Data Science Platform Market Synopsis

Product development with respect to the analytical tools, along with the rising adoption of analytical tools to take predictive decisions, is expected to accelerate the growth of the data science platform market.

However, as most companies use open sources there are high chances of data breach, which might be a restricting factor for the market.

According to the regional outlook, the North America market for data science platform is anticipated to grow during the review period and expected to generate a revenue of $80.3 billion by 2026, with a CAGR of 20.1%, due to increasing demand for IoT in the region.

Market Drivers:

Increasing adoption of data analytical tools is a major driving factor for the growth of the data science platform market.

Analytical tools of data science help the organization to take predictive decision. Data science helps the user to build, assess and control data. In the era of digitalization, data science and its analytical tools play a vital role in taking the business decisions. Organization uses the structured and unstructured data to add a meaningful insight, which can further add information to take decisions. Data science platform helps to update business processes and acquire new customers. Moreover, the tools can provide vast possibilities for learning the unobserved consumer purchasing pattern. Due to these factors, it is being predicted that the analytical tools can be the major driving factor in the data science platform market. Adoption of data science platform market in emerging market is at emerging stage and is largely untapped which can create a huge opportunity in the forecast year.    

Market Restraints:

Lack of domain expertise and data breach is considered to be the major restraints for the data science platform market.

Data science platforms are used as an approach in order to find hidden information from a large set of structured and unstructured data. These data are to be handled with caution; if any sort of information is misplaced or not considered, the whole process could go wrong and the work would need to be started from scratch. As data science is a new field, many professionals are not that experienced to handle the complex issues. Due to the unavailability of domain expertise in the respective field is considered to be the major restrains of the digital science platform. Most of the data science tools are used from open sources. There are high chances of data breach of the company as most companies use open sources; this is a major concern for the market. 

Data Science Platform Market Segmentation, by Type:

Service type is considered to be the most profitable segment in the forecast period.

Source: Research Dive Analysis

Service type is considered to have the highest growth in the forecast period. Service type was $8.2 billion by 2018 and is predicted to grow by generating a revenue of $76.0 billion by 2026 Service type assists the client to solve the toughest challenges by predicting the demand of the client, which helps to improve customer satisfaction and guides to build the business strategies. The growth of the service segment is mainly driven by the growing complexity in the operational field and increasing use of business Intelligence(BI) tools, and this is expected to drive the service segment in data science platform market.

Data Science Platform Market, by End use:

Source: Research Dive Analysis

Banking, financial services and insurance hold the largest market share of 23.7% in 2018. Banking, financial services and insurance segment was $6.09 billion in 2018 and is predicted to grow at a CAGR of 29.4% in the forecast period. Data science plays a very crucial role in Banking, financial services and insurance in analyzing the data to provide better experience to their customers. With the help of data science platform, fraud in Banking, financial services and insurance segments can be detected, which adds value to the clients, provides the valuable insights about the trend in the credit market and helps the policymakers to take decision and build strategies. 

Data Science Platform Market, by Region:

Asia-Pacific holds the highest growth rate in the forecast period.

 
Source: Research Dive Analysis

North America Data Science Platform Market Outlook 2026:

North America market was $9.8 billion in 2018 and is predicted to generate a revenue of $80.3 billion by 2026. The market in North America is predicted to grow due to the growing demand of internet of things (IoT) and cloud. Internet of things (IoT) and cloud increase the demand for data science tools for data fetching and handling. 

Asia-Pacific Data Science Platform Market Overview 2026:

Asia-Pacific region was $5.2 billion in 2018 and is predicted to generate a revenue of $48.0 billion by 2026. The need for data processing is predicted to boost the demand for this region. With the growing economy and massive investment by the major tech companies are expected to drive the data science platform market across the region.

Key Participants in the Data Science Platform Market 

The major key player in the data science platform market are Databricks, Alphabet Inc. (Google), Domino Data Lab, Inc., Dataiku, Civis Analytics, Cloudera, Inc., Anaconda, Inc., IBM Corporation, Altair Engineering, Inc., and Microsoft Corporation among others.

Source: Research Dive Analysis

1. Research Methodology

1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters

1.4.1. Assumptions
1.4.2. Forecast parameters

1.5. Data sources

1.5.1. Primary
1.5.2. Secondary

2. Executive Summary

2.1. 360° summary
2.2. type trends
2.3. End use trends

3. Market Overview

3.1. Market segmentation & definitions
3.2. Key takeaways

3.2.1. Top investment pockets
3.2.2. Top winning strategies

3.3. Porter’s five forces analysis

3.3.1. Bargaining power of consumers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of new entrants
3.3.4. Threat of substitutes
3.3.5. Competitive rivalry in the market

3.4. Market dynamics

3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities

3.5. Technology landscape
3.6. Regulatory landscape
3.7. Patent landscape
3.8. Strategic overview

4. Data Science Platform, by type

4.1. Service

4.1.1. Market size and forecast, by region, 2017-2028
4.1.2. Comparative market share analysis, 2018 & 2028

4.2. Solution

4.2.1. Market size and forecast, by region, 2017-2028
4.2.2. Comparative market share analysis, 2018 & 2028

5. Data Science Platform, by End use

5.1. Telecommunication

5.1.1. Market size and forecast, by region, 2017-2028
5.1.2. Comparative market share analysis, 2018 & 2028

5.2. BFSI

5.2.1. Market size and forecast, by region, 2017-2028
5.2.2. Comparative market share analysis, 2018 & 2028

5.3. Healthcare

5.3.1. Market size and forecast, by region, 2017-2028
5.3.2. Comparative market share analysis, 2018 & 2028

5.4. Transport and Logistics

5.4.1. Market size and forecast, by region, 2017-2028
5.4.2. Comparative market share analysis, 2018 & 2028

5.5. Manufacturing

5.5.1. Market size and forecast, by region, 2017-2028
5.5.2. Comparative market share analysis, 2018 & 2028

5.6. Others

5.6.1. Market size and forecast, by region, 2017-2028
5.6.2. Comparative market share analysis, 2018 & 2028

6. Data Science Platform, by Region

6.1. North Region

6.1.1. Market size and forecast, by service type, 2017-2028
6.1.2. Market size and forecast, by end-use, 2017-2028
6.1.3. Market size and forecast, by country, 2017-2028
6.1.4. Comparative market share analysis, 2018 & 2028
6.1.5. U.S

6.1.5.1. Market size and forecast, by service type, 2017-2028
6.1.5.2. Market size and forecast, by end-use, 2017-2028
6.1.5.3. Comparative market share analysis, 2018 & 2028

6.1.6. Canada

6.1.6.1. Market size and forecast, by service type, 2017-2028
6.1.6.2. Market size and forecast, by end-use, 2017-2028
6.1.6.3. Comparative market share analysis, 2018 & 2028

6.2. Europe

6.2.1. Market size and forecast, by service type, 2017-2028
6.2.2. Market size and forecast, by end-use, 2017-2028
6.2.3. Market size and forecast, by country, 2017-2028
6.2.4. Comparative market share analysis, 2018 & 2028
6.2.5. UK

6.2.5.1. Market size and forecast, by service type, 2017-2028
6.2.5.2. Market size and forecast, by end-use, 2017-2028
6.2.5.3. Comparative market share analysis, 2018 & 2028

6.2.6. Germany

6.2.6.1. Market size and forecast, by service type, 2017-2028
6.2.6.2. Market size and forecast, by end-use, 2017-2028
6.2.6.3. Comparative market share analysis, 2018 & 2028

6.2.7. France

6.2.7.1. Market size and forecast, by service type, 2017-2028
6.2.7.2. Market size and forecast, by end-use, 2017-2028
6.2.7.3. Comparative market share analysis, 2018 & 2028

6.2.8. Italy

6.2.8.1. Market size and forecast, by service type, 2017-2028
6.2.8.2. Market size and forecast, by end-use, 2017-2028
6.2.8.3. Comparative market share analysis, 2018 & 2028

6.2.9. Rest of Europe

6.2.9.1. Market size and forecast, by service type, 2017-2028
6.2.9.2. Market size and forecast, by end-use, 2017-2028
6.2.9.3. Comparative market share analysis, 2018 & 2028

6.3. Asia-Pacific

6.3.1. Market size and forecast, by service type, 2017-2028
6.3.2. Market size and forecast, by end-use, 2017-2028
6.3.3. Market size and forecast, by country, 2017-2028
6.3.4. Comparative market share analysis, 2018 & 2028
6.3.5. China

6.3.5.1. Market size and forecast, by service type, 2017-2028
6.3.5.2. Market size and forecast, by end-use, 2017-2028
6.3.5.3. Comparative market share analysis, 2018 & 2028

6.3.6. India

6.3.6.1. Market size and forecast, by service type, 2017-2028
6.3.6.2. Market size and forecast, by end-use, 2017-2028
6.3.6.3. Comparative market share analysis, 2018 & 2028

6.3.7. Japan

6.3.7.1. Market size and forecast, by service type, 2017-2028
6.3.7.2. Market size and forecast, by end-use, 2017-2028
6.3.7.3. Comparative market share analysis, 2018 & 2028

6.3.8. South Korea

6.3.8.1. Market size and forecast, by service type, 2017-2028
6.3.8.2. Market size and forecast, by end-use, 2017-2028
6.3.8.3. Comparative market share analysis, 2018 & 2028

6.3.9. Australia

6.3.9.1. Market size and forecast, by service type, 2017-2028
6.3.9.2. Market size and forecast, by end-use, 2017-2028
6.3.9.3. Comparative market share analysis, 2018 & 2028

6.3.10. Rest of Asia Pacific

6.3.10.1. Market size and forecast, by service type, 2017-2028
6.3.10.2. Market size and forecast, by end-use, 2017-2028
6.3.10.3. Comparative market share analysis, 2018 & 2028

6.4. LAMEA

6.4.1. Market size and forecast, by service type, 2017-2028
6.4.2. Market size and forecast, by end-use, 2017-2028
6.4.3. Market size and forecast, by country, 2017-2028
6.4.4. Comparative market share analysis, 2018 & 2028
6.4.5. Middle East

6.4.5.1. Market size and forecast, by service type, 2017-2028
6.4.5.2. Market size and forecast, by end-use, 2017-2028
6.4.5.3. Comparative market share analysis, 2018 & 2028

6.4.6. Africa

6.4.6.1. Market size and forecast, by service type, 2017-2028
6.4.6.2. Market size and forecast, by end-use, 2017-2028
6.4.6.3. Comparative market share analysis, 2018 & 2028

6.4.7. Rest of LAMEA

6.4.7.1. Market size and forecast, by service type, 2017-2028
6.4.7.2. Market size and forecast, by end-use, 2017-2028
6.4.7.3. Comparative market share analysis, 2018 & 2028

7. Company Profiles

7.1. Databricks

7.1.1. Business overview
7.1.2. Financial performance
7.1.3. Product portfolio
7.1.4. Recent strategic moves & developments
7.1.5. SWOT analysis

7.2. Alphabet Inc. (Google)

7.2.1. Business overview
7.2.2. Financial performance
7.2.3. Product portfolio
7.2.4. Recent strategic moves & developments
7.2.5. SWOT analysis

7.3. Domino Data Lab, Inc.,

7.3.1. Business overview
7.3.2. Financial performance
7.3.3. Product portfolio
7.3.4. Recent strategic moves & developments
7.3.5. SWOT analysis

7.4. Dataiku

7.4.1. Business overview
7.4.2. Financial performance
7.4.3. Product portfolio
7.4.4. Recent strategic moves & developments
7.4.5. SWOT analysis

7.5. Civis Analytics

7.5.1. Business overview
7.5.2. Financial performance
7.5.3. Product portfolio
7.5.4. Recent strategic moves & developments
7.5.5. SWOT analysis

7.6. Cloudera, Inc.

7.6.1. Business overview
7.6.2. Financial performance
7.6.3. Product portfolio
7.6.4. Recent strategic moves & developments
7.6.5. SWOT analysis

7.7. Anaconda, Inc.

7.7.1. Business overview
7.7.2. Financial performance
7.7.3. Product portfolio
7.7.4. Recent strategic moves & developments
7.7.5. SWOT analysis

7.8. IBM Corporation

7.8.1. Business overview
7.8.2. Financial performance
7.8.3. Product portfolio
7.8.4. Recent strategic moves & developments
7.8.5. SWOT analysis

7.9. Altair Engineering, Inc.

7.9.1. Business overview
7.9.2. Financial performance
7.9.3. Product portfolio
7.9.4. Recent strategic moves & developments
7.9.5. SWOT analysis

7.10. Microsoft Corporation

7.10.1. Business overview
7.10.2. Financial performance
7.10.3. Product portfolio
7.10.4. Recent strategic moves & developments
7.10.5. SWOT analysis

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