Data Science Platform Market size is set to grow by USD 249,147.71 million from 2023 to 2027; Market growth driven by the high generation of data volumes - Technavio

NEW YORK , June 20, 2023 /PRNewswire/ -- The global data science platform market size is estimated to grow by USD 249,147.71 million from 2022 to 2027. The market is estimated to grow at a CAGR of 26.78% during the forecast period. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Technavio offers an up-to-date analysis of the current global market scenario and the overall market environment. View Sample Report

The report also covers the following areas:

• Data Science Platform Market size
• Data Science Platform Market trends
• Data Science Platform Market industry analysis

Data Science Platform Market 2023-2027: Segmentation

• Component 
• Platform
• Services
• Deployment 
• On-premise
• Cloud
• Geography 
• North America
• Europe
• APAC
• South America
• Middle East And Africa

The market share growth by the platform segment will be significant during the forecast period. Data science platforms that are considered the best usually offer the flexibility of open-source tools and the scalability of elastic computer resources. Alteryx Analytics, Microsoft Azure ML studio, SAS Visual Analytics, SAS Enterprise Miner, and the RapidMiner platform are some of the best data science platforms. However, these platforms enable data-driven business decisions, and enterprises are investing in data science platforms and advanced analytics capabilities to enhance business outcomes. Data science is software that comprises various technologies for machine learning (ML) and other analytical uses. Data science platforms offer a collaborative and flexible environment that enables enterprises to incorporate data-driven decisions into operations and customer-facing systems to increase business outcomes and improve customer experience. Therefore, such factors will boost the market growth during the forecast period.

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Data Science Platform Market 2023-2027: Vendor Analysis and Scope

To help businesses improve their market position, the data science platform market provides a detailed analysis of around 15+ vendors operating in the market. Some of these vendors include Alphabet Inc., Altair Engineering Inc., Alteryx Inc., Anaconda Inc., Cloudera Inc., Databricks Inc., Dataiku Inc., DataRobot Inc., Domino Data Lab Inc., International Business Machines Corp., Microsoft Corp., Oracle Corp., Rapid Insight Inc., RapidMiner Inc., Rexer Analytics, Rstudio PBC, SAS Institute Inc., The MathWorks Inc., Vista Equity Partners Management LLC, and Wolfram.

• Alphabet Inc. - The company offers data science platform solutions using a complete suite of data management, analytics, and machine learning tools to generate insights and unlock value from data.
• Altair Engineering Inc. - The company offers data science platform solutions which enable data-driven enterprises by providing teams with the power to use data analytics and AI to gain competitive advantages and drive next-level business results.
• Alteryx Inc. - The company offers data science platform solutions which help to accelerate machine learning modelling and focus on insights with analytics automation and AutoML solution.

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Data Science Platform Market – Market Dynamics
Key factor driving market growth

The major driving of the global data science platform market is the high generation of data volumes. Since 2014, data volumes are exploding, and more data has been created. Business applications are generating enormous volumes of data, and this will continue throughout the forecast period and beyond. Further, the growing volume of data generated in organizations through multiple channels and sources has forced organizations to implement big data analytics and save a significant amount of cost for organizations. However, data analysts or scientists need to thoroughly analyze large amounts of data and convert insights into real-time action. Most importantly, irrelevant data provide inaccurate information and predictions about consumer behaviour, consumer buying pattern, and related information that are used in key decision-making processes. Data science platforms and associated technologies have enabled organizations to change unstructured and semi-structured data into structured and significant data. For instance, a popular data science application such as big data analytics can be used for retrieving and analyzing data to discover significant weaknesses, develop indicator patterns to identify opportunities and threats; and optimize business decisions. Therefore, as data volumes are rising, the demand for data analytics is also growing, which is anticipated to boost the growth of the market during the forecast period.

Leading trends influencing the market 

The growing dependency on the Internet is an emerging trend in the global data science platform market. The rising use of the Internet for day-to-day activities and critical operations is one of the major key drivers contributing to the growth of the market.  With the penetration rate of the Internet increasing, people tend to share their personal information on the platform, especially on social media. Additionally, companies are offering storage services in the cloud, leading to the storage of critical information on the Web. However, Institutions such as banks and payment card companies are encouraging customers to make transactions by using the Internet to do online transactions and payments. Although online methods have advantages over traditional methods but also they have high-security risks. The deployment of business analytics helps organizations in improving their efficiency and productivity. This helps them fulfil their business demands quickly and remain competitive. Hence, these applications of data science platforms should drive market growth during the forecast period.

Major challenges hindering the market growth

Increasing threat from open-source data science platform vendors is a major challenge that may impede the growth of the global data science platform market. The existence of many open-source data science platform vendors is one of the significant challenges for the global data science platforms market. Vendors such as Pentaho and Jasper Soft enable enterprises to use business analytics functionality free of cost. However, the market has numerous open-source vendors that deliver a range of data science tools and applications. Additionally, a combination of multiple products from different open-source vendors can cover almost all the functionalities that on-premise or on-demand data science platform software vendors provide. Open-source vendors provide query, reporting, analysis, advanced analytics, and data warehouse generation platforms. Therefore, these factors have an adverse impact on the market share of data science platform vendors.

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Data Science Platform Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist data science platform market growth during the next five years
• Estimation of the data science platform market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the data science platform market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of data science platform market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global data science platform market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global data science platform market 2017 - 2021 ($ million)

• 4.2 Component Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Component Segment 2017 - 2021 ($ million)

• 4.3 Deployment Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Deployment Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Component

• 6.1 Market segments 
• Exhibit 30: Chart on Component - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Component - Market share 2022-2027 (%)

• 6.2 Comparison by Component 
• Exhibit 32: Chart on Comparison by Component
• Exhibit 33: Data Table on Comparison by Component

• 6.3 Platform - Market size and forecast 2022-2027
• Exhibit 34: Chart on Platform - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Platform - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Platform - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Platform - Year-over-year growth 2022-2027 (%)

• 6.4 Services - Market size and forecast 2022-2027
• Exhibit 38: Chart on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Services - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Services - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Component 
• Exhibit 42: Market opportunity by Component ($ million)

7 Market Segmentation by Deployment

• 7.1 Market segments 
• Exhibit 43: Chart on Deployment - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Deployment - Market share 2022-2027 (%)

• 7.2 Comparison by Deployment 
• Exhibit 45: Chart on Comparison by Deployment
• Exhibit 46: Data Table on Comparison by Deployment

• 7.3 On-premise - Market size and forecast 2022-2027
• Exhibit 47: Chart on On-premise - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on On-premise - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on On-premise - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on On-premise - Year-over-year growth 2022-2027 (%)

• 7.4 Cloud - Market size and forecast 2022-2027
• Exhibit 51: Chart on Cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Cloud - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Cloud - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Deployment 
• Exhibit 55: Market opportunity by Deployment ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 57: Chart on Market share by geography 2022-2027 (%)
• Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 59: Chart on Geographic comparison
• Exhibit 60: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 61: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 63: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 64: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 73: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Canada - Market size and forecast 2022-2027
• Exhibit 93: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027
• Exhibit 97: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 101: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 102: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 104: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 105: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 106: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 107: Matrix on vendor position and classification

• 12.3 Alphabet Inc. 
• Exhibit 108: Alphabet Inc. - Overview
• Exhibit 109: Alphabet Inc. - Business segments
• Exhibit 110: Alphabet Inc. - Key news
• Exhibit 111: Alphabet Inc. - Key offerings
• Exhibit 112: Alphabet Inc. - Segment focus

• 12.4 Altair Engineering Inc. 
• Exhibit 113: Altair Engineering Inc. - Overview
• Exhibit 114: Altair Engineering Inc. - Business segments
• Exhibit 115: Altair Engineering Inc. - Key offerings
• Exhibit 116: Altair Engineering Inc. - Segment focus

• 12.5 Alteryx Inc. 
• Exhibit 117: Alteryx Inc. - Overview
• Exhibit 118: Alteryx Inc. - Product / Service
• Exhibit 119: Alteryx Inc. - Key news
• Exhibit 120: Alteryx Inc. - Key offerings

• 12.6 Anaconda Inc. 
• Exhibit 121: Anaconda Inc. - Overview
• Exhibit 122: Anaconda Inc. - Product / Service
• Exhibit 123: Anaconda Inc. - Key offerings

• 12.7 Cloudera Inc. 
• Exhibit 124: Cloudera Inc. - Overview
• Exhibit 125: Cloudera Inc. - Business segments
• Exhibit 126: Cloudera Inc. - Key offerings
• Exhibit 127: Cloudera Inc. - Segment focus

• 12.8 Databricks Inc. 
• Exhibit 128: Databricks Inc. - Overview
• Exhibit 129: Databricks Inc. - Product / Service
• Exhibit 130: Databricks Inc. - Key offerings

• 12.9 Dataiku Inc. 
• Exhibit 131: Dataiku Inc. - Overview
• Exhibit 132: Dataiku Inc. - Product / Service
• Exhibit 133: Dataiku Inc. - Key offerings

• 12.10 Domino Data Lab Inc. 
• Exhibit 134: Domino Data Lab Inc. - Overview
• Exhibit 135: Domino Data Lab Inc. - Product / Service
• Exhibit 136: Domino Data Lab Inc. - Key offerings

• 12.11 International Business Machines Corp.
• Exhibit 137: International Business Machines Corp. - Overview
• Exhibit 138: International Business Machines Corp. - Business segments
• Exhibit 139: International Business Machines Corp. - Key offerings
• Exhibit 140: International Business Machines Corp. - Segment focus

• 12.12 Microsoft Corp. 
• Exhibit 141: Microsoft Corp. - Overview
• Exhibit 142: Microsoft Corp. - Business segments
• Exhibit 143: Microsoft Corp. - Key news
• Exhibit 144: Microsoft Corp. - Key offerings
• Exhibit 145: Microsoft Corp. - Segment focus

• 12.13 RapidMiner Inc. 
• Exhibit 146: RapidMiner Inc. - Overview
• Exhibit 147: RapidMiner Inc. - Product / Service
• Exhibit 148: RapidMiner Inc. - Key offerings

• 12.14 SAS Institute Inc. 
• Exhibit 149: SAS Institute Inc. - Overview
• Exhibit 150: SAS Institute Inc. - Product / Service
• Exhibit 151: SAS Institute Inc. - Key news
• Exhibit 152: SAS Institute Inc. - Key offerings

• 12.15 The MathWorks Inc. 
• Exhibit 153: The MathWorks Inc. - Overview
• Exhibit 154: The MathWorks Inc. - Product / Service
• Exhibit 155: The MathWorks Inc. - Key offerings

• 12.16 Vista Equity Partners Management LLC
• Exhibit 156: Vista Equity Partners Management LLC - Overview
• Exhibit 157: Vista Equity Partners Management LLC - Product / Service
• Exhibit 158: Vista Equity Partners Management LLC - Key news
• Exhibit 159: Vista Equity Partners Management LLC - Key offerings

• 12.17 Wolfram 
• Exhibit 160: Wolfram - Overview
• Exhibit 161: Wolfram - Product / Service
• Exhibit 162: Wolfram - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 163: Inclusions checklist
• Exhibit 164: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 165: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 166: Research methodology
• Exhibit 167: Validation techniques employed for market sizing
• Exhibit 168: Information sources

• 13.5 List of abbreviations 
• Exhibit 169: List of abbreviations

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