Technavio’s latest research report on the Data Science Platform Market offers a comprehensive analysis of new product launches, the latest trends, drivers, and challenges. The data science platform market size is expected to increase by USD 68.02 billion, at a CAGR of 24.73% from 2021 to 2026. 42% of the market’s growth will originate from North America. US and Canada are the key markets for data science platforms in the region. The rising focus on data-driven decisions will facilitate the data science platform market growth in North America.
Market Dynamics
Factors such as the high generation of data volumes and the increasing adoption of data science platforms across diversified industry verticals will drive the growth of the Data Science Platform Market during 2022-2026. However, high initial investments might hamper market growth. The holistic analysis of the drivers will help in predicting end goals and refining marketing strategies to gain a competitive edge.
Company Profiles
The data science platform market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. The data science platform market report includes information on the product launches, sustainability, and prospects of leading vendors including Alphabet Inc., Altair Engineering Inc., Alteryx Inc., Anaconda Inc., Cloudera Inc., International Business Machines Corp., Microsoft Corp., RapidMiner Inc., SAS Institute Inc., and The MathWorks Inc.
Few Companies with Key Offerings
- Alphabet Inc. – The company is involved in offering solutions that will help organizations build modern data architectures with real-time analytics to data-driven applications.
- Altair Engineering Inc. – The company is involved in offering data analytics and AI to gain competitive advantages and drive next-level business results.
- Alteryx Inc. – The company is involved in offering automated and repeatable workflows that can make the larger data science process easier and more efficient.
Competitive Analysis
The competitive scenario provided in the data science platform market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.
Market Segmentation
- By Component, the market is classified into Platform and Services. The data science platform market share growth by the Platform segment has been significant.
- By Geography, the market is classified as North America, Europe, APAC, South America, and MEA. North America will have the largest share of the market.
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| Data Science Platform Market Scope | |
| Report Coverage | Details |
| Page number | 120 |
| Base year | 2021 |
| Forecast period | 2022-2026 |
| Growth momentum & CAGR | Accelerate at a CAGR of 24.73% |
| Market growth 2022-2026 | USD 68.02 billion |
| Market structure | Fragmented |
| YoY growth (%) | 18.16 |
| Regional analysis | North America, Europe, APAC, South America, and MEA |
| Performing market contribution | North America at 42% |
| Key consumer countries | US, Canada, Germany, China, and UK |
| Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
| Companies profiled | Alphabet Inc., Altair Engineering Inc., Alteryx Inc., Anaconda Inc., Cloudera Inc., International Business Machines Corp., Microsoft Corp., RapidMiner Inc., SAS Institute Inc., and The MathWorks Inc. |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
| Customization preview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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