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Global Data Science Platform Market By Type (Solutions, Services), End User (BFSI, Telecommunication, Transportation and Logistics, Healthcare, Manufacturing, Retail, Education, Government, Energy, and Utilities) - Opportunity and Forecast, 2017-2023

IC 172307
Pages: 186
Jun 2017 | 981 Views
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Author's : Apoorv Tailang
Tables: 45
Charts: 66
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Data Science Platform Market Overview:

Data science platform incorporates Market a set of new generation technologies and architecture that are especially designed as a framework of the entire data science project. It consists of tools that are required to execute the life cycle of the data science project, which consists of different phases such as data ideation, integration & exploration; model development, and model deployment. In the present scenario, it has become a critical investment choice that has significantly contributed to the growth of the smart and digital industry.

The report does not consider open source platforms such as R and Python and it only evaluates commercial data science platform vendors. Furthermore, the market is classified based on type into solutions and services. The market is also classified based on end user into banking, financial services, and insurance (BFSI); telecommunication; transportation & logistics; healthcare; manufacturing, and others. The market is analyzed based on four regions-North America, Europe, Asia-Pacific, and LAMEA.

Adoption of the data science platform in emerging markets, including Brazil, the Gulf Cooperation Council (GCC) countries, and African countries is at a nascent stage, unlike that in developed markets such as North America and Europe. However, the potential impact of enhanced analytics solutions and services on business activities has increased in the region. Furthermore, the relative importance of collection of data in most of the local economies and the need to extract actionable insights from the data are anticipated to fuel the demand for data science platform services and solutions.

This report includes a study of the data science platform market with respect to growth prospects and restraints based on the regional analysis. The study includes Porters five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.

The data science platform ecosystem comprises solutions and service providers such as Microsoft Corporation, International Business Machines Corporation, SAS Institute, Inc., SAP SE, RapidMiner, Inc., Dataiku SAS, Alteryx, Inc, Fair Issac Corporation, MathWorks, Inc, and Teradata, Inc.

Segment Overview

DATA SCIENCE PLATFORM MARKET SEGMENTATION

Key Findings

Top Impacting Factors

The key impacting factors of the data science platform market include data explosion, realization of importance of data science by organizations, increase in data collection & analysis from mobile devices, advancement of big data technologies, growing concern of data security & protection, and high initial investments. These factors have significantly contributed to the growth of the data science platform market and are anticipated to impact the market growth during the forecast period.

Top Impacting Factors

Data Science Platform Market Top Impacting Factors

The revenue of the global data science platform market is projected to grow by 7.4 times from 2017 to 2023, owing to increasing expenditure on data science solutions and services.

Top Investment Pockets

The figure provided below signifies the growth potential of the data science platform market based on various segments that include BFSI, telecommunication, transportation & logistics, healthcare, manufacturing, and others. The manufacturing segment is projected to grow at the highest CAGR of 42.5% during the forecast period, owing to an increase in the need for enhanced data analytical solutions due to the rise of 3D printing, Internet of things (IoT), and artificial intelligence.

Key Investment Pockets

DATA SCIENCE PLATFORM MARKET KEY INVESTMENT POCKETS

Top Winning Strategies

Top Winning Strategies

DATA SCIENCE PLATFORM MARKET TOP WINNING STRATEGIES

Collaboration was the most prominent strategy that accounted for 49.5% of the total strategies adopted by key operating companies. It was followed by product portfolio expansion and product launch, which accounted for 15.2% and 13.1% of the shares, respectively. The growing demand for advanced data management solutions such as predictive and descriptive analytics solutions has influenced operating companies to collaborate with different organizations. This has driven the growth of the global data science platform market.

Market Dynamics

1. Data Explosion

Data is growing in an exponential manner. About 90% of the data that currently exists in the world has been created in the past few years. The massive increase in data creates opportunities for organizations to gain new insights, for which the demand for new techniques and methods has also increased. This in turn plays a very crucial role to drive the data science platform market.

2. Realization of Importance of Data Science Platform by Organizations

Data science platforms help organizations to be proactive and predictive. It allows them to take actions to optimize outcomes rather than being reactive. Many organizations and start-ups have been benefitted using data science platforms. Some examples include PayPal using Big Data analytics to detect fraud, the pharma industry building better medicines at a faster pace using data science tools, and many retail companies customizing individual customer preferences and building products that meet their expectations using data analysis. Organizations have become data driven and are investing in infrastructure, people, and processes to initiate a data science journey.

3. Adoption of Cloud-based Solutions and Services

Cloud-computing, an exciting and nascent, yet the fastest-growing technology in the data science platform industry, enables significant value addition to prominent players. For instance, the innovative cloud model allows data scientists to perform complex analyses by linking significantly large volumes of data. This in turn enables companies to reduce non-productive time, operational costs, uncertainty, and risks. Furthermore, the adoption of cloud-based solutions and services is anticipated to drive the industry.

4. Target Untapped and Emerging Markets

Data science platform industry has created the opportunity to transform in all sectors. There are many untapped markets such as telecom industry, video analysis, etc., which has a promising future. Emerging markets such as Latin America, the Middle East, and Africa are expected to present significant growth opportunities for prominent players. Along with this data science platform, there is an opportunity of growth for other technologies such as Internet of Things (IoT), Artificial Intelligence (AI), machine learning, etc.

Key Benefits

  • This study provides an in-depth analysis of the global data science platform market, along with the current and future trends to elucidate the imminent investment pockets.
  • Information regarding key drivers, restraints, and opportunities, along with their impact analysis on the data science platform market size has been provided.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers that operate in the industry.
  • The quantitative analysis of the global data science market from 2017 to 2023 has been provided to determine the market potential.

Data Science Platform Market Key Market Segments

  • The data science platform market is segmented based on type, end user, and geography.

By Type

  • Solutions
  • Services

By End User

  • BFSI
  • Telecommunication
  • Transportation and Logistics
  • Healthcare
  • Manufacturing
  • Others (retail, education, government, energy, and utilities)

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Market Players Profiled in the Report

  • Microsoft Corporation
  • IBM Corporation
  • SAS Institute, Inc.
  • SAP SE
  • RapidMiner, Inc.
  • Dataiku SAS
  • Alteryx, Inc
  • Fair Issac Corporation (FICO)
  • MathWorks, Inc
  • Teradata, Inc.
 

Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies

3.3. PORTERS FIVE FORCES ANALYSIS

3.3.1. Moderate bargaining power of suppliers
3.3.2. High threat of new entrants
3.3.3. Low threat of substitutes
3.3.4. High competitive rivalry
3.3.5. Moderate bargaining power among buyers

3.4. PLAYER POSITIONING
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Data Explosion
3.5.1.2. Realization of importance of data science platform by organizations
3.5.1.3. Increase in focus on Return on Investment (ROI)
3.5.1.4. Increase in data collection and analysis from mobile devices
3.5.1.5. Advancement of big data technologies

3.5.2. Restraints

3.5.2.1. Growing concerns of data security and protection
3.5.2.2. Lack of skilled workforce
3.5.2.3. High initial investments

3.5.3. Opportunities

3.5.3.1. Adoption of cloud-based solutions and services
3.5.3.2. Target untapped and emerging markets

Chapter: 4 DATA SCIENCE PLATFORM MARKET, BY TYPE

4.1. OVERVIEW
4.2. SOLUTION

4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast

4.3. SERVICES

4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast

Chapter: 5 DATA SCIENCE PLATFORM MARKET, BY END USER

5.1. OVERVIEW
5.2. BANKING, FINANCIAL SERVICES AND INSURANCE

5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast

5.3. TELECOMMUNICATION

5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast

5.4. TRANSPORTATION AND LOGISTICS

5.4.1. Key market trends
5.4.2. Key growth factors and opportunities
5.4.3. Market size and forecast

5.5. HEALTHCARE

5.5.1. Key market trends
5.5.2. Key growth factors and opportunities
5.5.3. Market size and forecast

5.6. MANUFACTURING

5.6.1. Key market trends
5.6.2. Key growth factors and opportunities
5.6.3. Market size and forecast

5.7. OTHERS

5.7.1. Key market trends
5.7.2. Key growth factors and opportunities
5.7.3. Market size and forecast

Chapter: 6 DATA SCIENCE PLATFORM MARKET, BY REGION

6.1. OVERVIEW
6.2. NORTH AMERICA

6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast

6.2.3.1. U.S.

6.2.3.1.1. Market size and forecast

6.2.3.2. Canada

6.2.3.2.1. Market size and forecast

6.2.3.3. Mexico

6.2.3.3.1. Market size and forecast

6.3. EUROPE

6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast

6.3.3.1. UK

6.3.3.1.1. Market size and forecast

6.3.3.2. Germany

6.3.3.2.1. Market size and forecast

6.3.3.3. France

6.3.3.3.1. Market size and forecast

6.3.3.4. Russia

6.3.3.4.1. Market size and forecast

6.3.3.5. Rest of Europe

6.3.3.5.1. Market size and forecast

6.4. ASIA-PACIFIC

6.4.1. Key market trends
6.4.2. Key growth factors and opportunities
6.4.3. Market size and forecast

6.4.3.1. China

6.4.3.1.1. Market size and forecast

6.4.3.2. Japan

6.4.3.2.1. Market size and forecast

6.4.3.3. India

6.4.3.3.1. Market size and forecast

6.4.3.4. Australia

6.4.3.4.1. Market size and forecast

6.4.3.5. Rest of Asia-Pacific

6.4.3.5.1. Market size and forecast

6.5. LAMEA

6.5.1. Key market trends
6.5.2. Key growth factors and opportunities
6.5.3. Market size and forecast

6.5.3.1. Latin America

6.5.3.1.1. Market size and forecast

6.5.3.2. The Middle East

6.5.3.2.1. Market size and forecast

6.5.3.3. Africa

6.5.3.3.1. Market size and forecast

Chapter: 7 COMPANY PROFILES

7.1. MICROSOFT CORPORATION

7.1.1. Company overview
7.1.2. Company snapshot
7.1.3. Operating business segment
7.1.4. Product portfolio
7.1.5. Business performance
7.1.6. Key strategic moves and developments

7.2. SAS INSTITUTE INC.

7.2.1. Company overview
7.2.2. Company snapshot
7.2.3. Product portfolio
7.2.4. Business performance
7.2.5. Key strategic moves and developments

7.3. FAIR ISSAC CORPORATION (FICO)

7.3.1. Company overview
7.3.2. Company snapshot
7.3.3. Operating business segments
7.3.4. Product portfolio
7.3.5. Business performance
7.3.6. Key strategic moves and developments

7.4. INTERNATIONAL BUSINESS MACHINES CORPORATION (IBM CORPORATION)

7.4.1. Company overview
7.4.2. Company snapshot
7.4.3. Operating business segments
7.4.4. Business performance
7.4.5. Key strategic moves and developments

7.5. SAP SE

7.5.1. Company overview
7.5.2. Company snapshot
7.5.3. Operating business segments
7.5.4. Business performance
7.5.5. Key strategic moves and developments

7.6. TERADATA CORPORATION

7.6.1. Company overview
7.6.2. Company snapshot
7.6.3. Operating business segments
7.6.4. Product portfolio
7.6.5. Business performance
7.6.6. Key strategic moves and developments

7.7. ALTREYX, INC.

7.7.1. Company overview
7.7.2. Company snapshot
7.7.3. Product portfolio
7.7.4. Business performance
7.7.5. Key strategic moves and developments

7.8. DATAIKU SAS

7.8.1. Company overview
7.8.2. Company snapshot
7.8.3. Key strategic moves and developments

7.9. RAPIDMINER INC

7.9.1. Company overview
7.9.2. Company snapshot
7.9.3. Product portfolio
7.9.4. Key strategic moves and developments

7.10. THE MATHWORKS INC

7.10.1. Company overview
7.10.2. Company snapshot
7.10.3. Product portfolio
7.10.4. Key strategic moves and developments

LIST OF TABLES

TABLE 1. GLOBAL DATA SCIENCE PLATFORM MARKET, BY TYPE, 2016-2023 ($MILLION)
TABLE 2. DATA SCIENCE PLATFORM MARKET FOR SOLUTIONS SEGMENT, BY REGION, 2016-2023 ($MILLION)
TABLE 3. DATA SCIENCE PLATFORM MARKET FOR SERVICES SEGMENT, BY REGION, 2016-2023 ($MILLION)
TABLE 4. GLOBAL DATA SCIENCE PLATFORM MARKET, BY END USER, 2016-2023 ($MILLION)
TABLE 5. DATA SCIENCE PLATFORM MARKET FOR BFSI, BY REGION, 2016-2023 ($MILLION)
TABLE 6. DATA SCIENCE PLATFORM MARKET FOR TELECOMMUNICATION, BY REGION, 2016-2023 ($MILLION)
TABLE 7. DATA SCIENCE PLATFORM MARKET FOR TRANSPORTATION AND LOGISTICS SECTOR, BY REGION, 2016-2023 ($MILLION)
TABLE 8. DATA SCIENCE PLATFORM MARKET FOR HEALTHCARE SEGMENT, BY REGION, 2016-2023 ($MILLION)
TABLE 9. DATA SCIENCE PLATFORM MARKET FOR MANUFACTURING SEGMENT, BY REGION, 2016-2023 ($MILLION)
TABLE 10. DATA SCIENCE PLATFORM MARKET FOR OTHERS SEGMENT, BY REGION, 2016-2023 ($MILLION)
TABLE 11. DATA SCIENCE PLATFORM MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 12. NORTH AMERICA DATA SCIENCE PLATFROM MARKET, BY TYPE, 2016-2023 ($MILLION)
TABLE 13. NORTH AMERICA DATA SCIENCE PLATFROM MARKET, BY END USER, 2016-2023 ($MILLION)
TABLE 14. NORTH AMERICA DATA SCIENCE PLATFROM MARKET, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 15. EUROPE DATA SCIENCE PLATFROM MARKET, BY TYPE, 2016-2023 ($MILLION)
TABLE 16. EUROPE DATA SCIENCE PLATFROM MARKET, BY END USER, 2016-2023 ($MILLION)
TABLE 17. EUROPE DATA SCIENCE PLATFROM MARKET, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 18. ASIA PACIFIC DATA SCIENCE PLATFROM MARKET, BY TYPE, 2017-2023 ($MILLION)
TABLE 19. ASIA PACIFIC DATA SCIENCE PLATFROM MARKET, BY END USER, 2016-2023 ($MILLION)
TABLE 20. ASIA-PACIFIC DATA SCIENCE PLATFROM MARKET, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 21. LAMEA DATA SCIENCE PLATFROM MARKET, BY TYPE, 2016-2023 ($MILLION)
TABLE 22. LAMEA DATA SCIENCE PLATFROM MARKET, BY END USER, 2016-2023 ($MILLION)
TABLE 23. LAMEA DATA SCIENCE PLATFORM MARKET, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 24. MICROSOFT CORPORATION: COMPANY SNAPSHOT
TABLE 25. MICROSOFT CORPORATION: OPERATING BUSINESS SEGMENTS
TABLE 26. MICROSOFT: PRODUCT PORTFOLIO
TABLE 27. SAS INSTITUTE INC: COMPANY SNAPSHOT
TABLE 28. SAS: PRODUCT PORTFOLIO
TABLE 29. FICO: COMPANY SNAPSHOT
TABLE 30. FICO: OPERATING SEGMENTS
TABLE 31. FICO: PRODUCT PORTFOLIO
TABLE 32. IBM: COMPANY SNAPSHOT
TABLE 33. IBM: OPERATING SEGMENTS
TABLE 34. SAP: COMPANY SNAPSHOT
TABLE 35. SAP: OPERATING SEGMENTS
TABLE 36. TERADATA: COMPANY SNAPSHOT
TABLE 37. TERADATA: OPERATING SEGMENTS
TABLE 38. IBM: PRODUCT PORTFOLIO
TABLE 39. ALTREYX: COMPANY SNAPSHOT
TABLE 40. ORACLE: PRODUCT PORTFOLIO
TABLE 41. DATAIKU: COMPANY SNAPSHOT
TABLE 42. RAPIDMINER: COMPANY SNAPSHOT
TABLE 43. RAPIDMINER: PRODUCT PORTFOLIO
TABLE 44. MATHWORKS: COMPANY SNAPSHOT
TABLE 45. MATHWORKS: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 1. GLOBAL DATA SCIENCE PLATFORM MARKET SEGMENTATION
FIGURE 2. GLOBAL DATA SCIENCE PLATFORM MARKET OVERVIEW, 2017 & 2023
FIGURE 3. DATA SCIENCE PLATFORM MARKET, BY REGION, 2017 & 2023
FIGURE 4. TOP IMPACTING FACTORS
FIGURE 5. KEY INVESTMENT POCKETS
FIGURE 6. TOP WINNING STRATEGIES
FIGURE 7. GLOBAL DATA SCIENCE PLATFORM MARKET, BY TYPE
FIGURE 8. GLOBAL DATA SCIENCE PLATFORM MARKET, BY SOLUTIONS, 2016-2023 ($MILLION)
FIGURE 9. GLOBAL DATA SCIENCE PLATFORM MARKET, BY SERVICES, 2016-2023 ($MILLION)
FIGURE 10. GLOBAL DATA SCIENCE PLATFORM MARKET, BY END USER
FIGURE 11. GLOBAL DATA SCIENCE PLATFORM MARKET, BY BFSI, 2016-2023 ($MILLION)
FIGURE 12. GLOBAL DATA SCIENCE PLATFORM MARKET, BY TELECOMMUNICATION, 2016-2023 ($MILLION)
FIGURE 13. GLOBAL DATA SCIENCE PLATFORM MARKET, BY TRANSPORTATION AND LOGISTICS, 2016-2023 ($MILLION)
FIGURE 14. GLOBAL DATA SCIENCE PLATFORM MARKET, BY HEALTHCARE, 2016-2023 ($MILLION)
FIGURE 15. GLOBAL DATA SCIENCE PLATFORM MARKET, BY MANUFACTURING, 2016-2023 ($MILLION)
FIGURE 16. GLOBAL DATA SCIENCE PLATFORM MARKET, BY OTHERS, 2016-2023 ($MILLION)
FIGURE 17. DATA SCIENCE PLATFORM MARKET, BY REGION, 2017(%)
FIGURE 18. NORTH AMERICA DATA SCIENCE PLATFROM MARKET
FIGURE 19. U.S. DATA SCIENCE PLATFROM MARKET, 2016-2023 ($MILLION)
FIGURE 20. CANADA DATA SCIENCE PLATFROM MARKET, 2016-2023 ($MILLION)
FIGURE 21. MEXICO DATA SCIENCE PLATFROM MARKET, 2016-2023 ($MILLION)
FIGURE 22. EUROPE DATA SCIENCE PLATFROM MARKET
FIGURE 23. UK DATA SCIENCE PLATFROM MARKET, 2016-2023 ($MILLION)
FIGURE 24. GERMANY DATA SCIENCE PLATFROM MARKET, 2016-2023 ($MILLION)
FIGURE 25. FRANCE DATA SCIENCE PLATFROM MARKET, 2016-2023 ($MILLION)
FIGURE 26. RUSSIA DATA SCIENCE PLATFROM MARKET, 2016-2023 ($MILLION)
FIGURE 27. REST OF EUROPE DATA SCIENCE PLATFROM MARKET, 2016-2023 ($MILLION)
FIGURE 28. ASIA-PACIFIC DATA SCIENCE PLATFORM MARKET
FIGURE 29. CHINA DATA SCIENCE PLATFROM MARKET, 2016-2023 ($MILLION)
FIGURE 30. JAPAN DATA SCIENCE PLATFORM MARKET, 2016-2023 ($MILLION)
FIGURE 31. INDIA DATA SCIENCE PLATFORM MARKET, 2016-2023 ($MILLION)
FIGURE 32. AUSTRALIA DATA SCIENCE PLATFORM MARKET, 2016-2023 ($MILLION)
FIGURE 33. REST OF ASIA-PACIFIC DATA SCIENCE PLATFORM MARKET, 2017-2023 ($MILLION)
FIGURE 34. LAMEA DATA SCIENCE PLATFORM MARKET
FIGURE 35. LATIN AMERICA DATA SCIENCE PLATFORM MARKET, 2016-2023 ($MILLION)
FIGURE 36. MIDDLE EAST DATA SCIENCE PLATFORM MARKET, 2016-2023 ($MILLION)
FIGURE 37. AFRICA DATA SCIENCE PLATFORM MARKET, 2016-2023 ($MILLION)
FIGURE 38. MICROSOFT CORPORATION: REVENUE, 2014-2016 ($MILLION)
FIGURE 39. MICROSOFT CORPORATION: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 40. MICROSOFT CORPORATION: STRATEGY SHARE, 2014-2016 (%)
FIGURE 41. SAS: REVENUE, 2013-2015 ($MILLION)
FIGURE 42. SAS: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 43. SAS: REVENUE SHARE BY GEOGRAPHY, 2016 (%)
FIGURE 44. SAS INSTITUTE INC.: STRATEGY SHARE, 2015-2017 (%)
FIGURE 45. FICO: NET SALES, 2014-2016 ($MILLION)
FIGURE 46. FICO: REVENUE BY PRODUCT, 2016 (%)
FIGURE 47. FICO: STRATEGY SHARE, 2015-2017 (%)
FIGURE 48. IBM: REVENUE, 2014-2016 ($MILLION)
FIGURE 49. IBM: REVENUE SHARE BY SEGMENT, 2015 (%)
FIGURE 50. IBM: REVENUE SHARE BY GEOGRAPHY, 2016 (%)
FIGURE 51. IBM: STRATEGY SHARE, 2015-2017 (%)
FIGURE 52. SAP: REVENUE, 2014-2016 ($MILLION)
FIGURE 53. SAP: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 54. SAP: REVENUE SHARE BY INDUSTRY, 2015 (%)
FIGURE 55. SAP: REVENUE SHARE BY REGION, 2015 (%)
FIGURE 56. SAP: STRATEGY SHARE, 2015-2017 (%)
FIGURE 57. TERADATA: REVENUE, 2015-2016 ($MILLION)
FIGURE 58. TERADATA: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 59. TERADATA: REVENUE SHARE BY REGION, 2016 (%)
FIGURE 60. TERADATA: STRATEGY SHARE, 2015-2017 (%)
FIGURE 61. ALTREYX: REVENUE, 2014-2016 ($MILLION)
FIGURE 62. ALTREYX: REVENUE BY GEOGRAPHY 2016(%)
FIGURE 63. ALTREYX: STRATEGY SHARE, 2015-2017 (%)
FIGURE 64. DATAIKU: STRATEGY SHARE, 2015-2017 (%)
FIGURE 65. RAPIDMINER: STRATEGY SHARE, 2015-2017 (%)
FIGURE 66. MATHWORKS: STRATEGY SHARE, 2015-2017 (%)

 

The global data science platform market is anticipated to witness considerable growth, especially in Asia-Pacific and LAMEA, owing to rise in awareness among end users about the importance of the data science and increase in data collection to obtain better insights for the improvisation of the operational efficiency.

Data science is experiencing a major renaissance, ushered in by big advances and investments in technology and data capabilities. Organizations understand the value of data and the urge to get greater insights through this data to increase their business efficiency. Along with an increase in efficiency, they also understand that through data science solutions, there will be improved and timely decision-making, greater scalability, and better change management. Thus, organizations are looking for user friendly and enhanced data science solutions with several features such as pictorial and graphical presentation of statistics and analysis.

The use of data science platform solutions and services have increased globally. The organizations of different sectors are motivated to invest in the data science platform to improve customer satisfaction and retention with operational efficiency. The competition and increase in use of new technologies, such as Internet of Things and artificial intelligence, have increased the need for data science platform.

Key vendors-operating in the data science platform industry-spend considerable amount on R&D to innovate existing solutions and expand product portfolios. Moreover, new features and tools are added to make it user friendly.
Some key vendors-identified in the global data science platform market-focus on enhancing their expertise in data science platform technologies by acquiring start-ups and local firms. For instance, in 2016, IBM acquired The Weather Company's B2B, mobile and cloud-based web-properties, weather.com, Weather underground, and others to expand its presence in cloud-based solutions and services.

 

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