Global Data Science Platform Market to Cross $224.3 Billion and Rise at a CAGR of 31.1% from 2019-2026 - Exclusive Report [Pages-140] by Research Dive

The global data science platform market is projected to upsurge during 2019-2026 due to the ability of data science to aid organizations in making informed decisions. The service type sub-segment is expected to observe highest growth. The North American region is predicted to dominate the market.

New York, USA, May 31, 2021 (GLOBE NEWSWIRE) -- As per a new report offered by Research Dive, the global data science platform market is estimated to surpass $224.3 billion by 2026, rising from a market size of $25.7 billion in 2018, at a CAGR of 31.1% during the 2019-2026 timeframe. This report elucidates the ongoing situation and market surge in the future years. Moreover, the market report is devised by experts after examining all the crucial facets that are impacting the forthcoming and present market growth.

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Aspects Impacting the Market Growth

The global data science platform market is estimated to augment in the forecasted years as data science aids a user to assess, build, and control data. Also, organizations can make informed decisions using data science. Attracting new customers, updating business processes, giving meaningful insights into the data, and so on are some of the advantages of using data science. All these facets are expected to boost the global market in the estimated timeframe. However, the unavailability of domain experts in the data science field is predicted to be the biggest restrain of the market.

The market report is divided into segments based on type, end-use, and regional outlook.

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Service Type Sub-Segment to be the Highest Growing

From the type segment, the service type sub-segment is projected to exceed $76.0 billion by 2026, rising from a market size of $8.2 billion in 2018, during the forecast period. The rise in the usage of business intelligence (BI) and increase in the service segment is estimated to augment the sub-segment market.

Banking, Financial Services, and Insurance Sub-Segment to be the Most Profitable

From the end-user segment, the banking, financial, and insurance sub-segment was accounted for $6.09 billion in the year 2018, and is expected to grow at a healthy rate of 29.4% during the forecasted period. Data science can detect fraud in the banking sector, thus adding value to the clients. This aspect is estimated to propel the sub-segment market growth during the estimated timeframe.

Regional Outlook

The North American data science platform market is speculated to gain $80.3 billion by the end of 2026, increasing from a market size of $9.8 billion in 2018. Rapid growth in the IoT (Internet of Things) and cloud technology is estimated to augment the development of data science tools, thus boosting the market growth in the future years.

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Key Market Players and Developments

The well-known players of the global data science platform market are

  1. Cloudera, Inc.
  2. Altair Engineering, Inc.
  3. Alphabet Inc. (Google)
  4. Domino Data Lab, Inc.
  5. Databricks
  6. Dataiku
  7. Civis Analytics
  8. IBM Corporation
  9. Anaconda, Inc.
  10. Microsoft Corporation

These market players are concentrating on planning and strategizing for new product designs, improving SWOT scrutiny, building robust portfolios, mergers & acquisitions of promising companies, and research & development projects. For instance, in April 2021, 360DigiTMG, an Ed-Tech company, launched a comprehensive data science course with placements for students. Data science is predicted to create several new jobs in the future years, hence the need for this course.

In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report

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