The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Expansion and Projections

• The data science platform market has witnessed exponential growth, soaring from $94.73 billion in 2023 to $122.82 billion in 2024, with a staggering CAGR of 29.6%.
• Historic growth drivers include the demand for predictive analytics, regulatory compliance, and the proliferation of open-source ecosystems.
• Future projections indicate further acceleration, with the market expected to reach $361.44 billion by 2028, driven by unstructured data growth and advancements in natural language processing.

Big Data Analytics Driving Market Growth

• The surge in demand for big data analytics fuels the expansion of the data science platform market.
• Big data analytics leverages advanced techniques to analyze structured, semi-structured, and unstructured data, empowering enterprises with valuable insights.
• Market leaders such as Microsoft, Google, and IBM spearhead innovations in data science platforms to meet evolving analytics needs.

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Adoption of Analytic Apps Reshaping the Landscape

• Analytic apps play a pivotal role in shaping the data science platform market, offering insights into consumer behavior and business performance.
• Companies like InCorta are innovating with mobile apps to enable users to access and analyze business data seamlessly.
• Strategic acquisitions, like TIBCO’s acquisition of Information Builders, enhance analytics capabilities and data management within the data science platform ecosystem.

Market Segmentation and Dynamics

• The data science platform market encompasses solutions and services, with deployment options including cloud-based and on-premise models.
• End-user segments span industries such as BFSI, telecommunications, healthcare, and manufacturing, each leveraging data science platforms for diverse use cases.
• North America dominates the market, while the Asia-Pacific region emerges as a significant growth hotspot in the forecast period.

Trends Shaping the Future of Data Science Platforms

• Hybrid and multi-cloud deployments gain prominence, offering scalability and flexibility to organizations.
• Integration with business intelligence tools enhances data insights and decision-making capabilities.
• Continuous model monitoring, hyper-automation, and collaborative model development drive efficiency and agility in data science practices.

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The Data Science Platform Global Market Report 2024 provides an overviewof the data science platform market for the time series: historic years (2010 -2021) and ten years forecast (2023 – 2032).The data science platform market forecast analyzesdata science platformmarket size, data science platform market share,leading competitor and their market positions.

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