PUBLISHER: Roots Analysis | PRODUCT CODE: 1920855
PUBLISHER: Roots Analysis | PRODUCT CODE: 1920855
As per Roots Analysis, the global data science platform market size is estimated to grow from USD 138 billion in the current year USD 1,678 billion by 2035, at a CAGR of 25.47% during the forecast period, till 2035.

The opportunity for data science platform market has been distributed across the following segments:
Type of Component
Type of Deployment
Type of Application
Type of Vertical
Geographical Regions
Data Science Platform Market: Growth and Trends
As digital transformation accelerates and smart devices become increasingly ubiquitous, the market for data science platforms is experiencing remarkable growth. Data science platforms are defined as all-encompassing software and solutions that provide data scientists, analysts, and engineers with tools, frameworks, and infrastructure to create, deploy, and manage solutions driven by data. These platforms enable data scientists to conduct a wide range of activities from data exploration and feature engineering to data visualization. With businesses striving to leverage the potential of data analytics and business intelligence, the requirement for advanced data science platforms is on the rise. Various influencing factors, such as the necessity for better decision-making, enhanced operational efficiency, and a more profound comprehension of customer behaviors, are broadening the market's perspective.
In addition to these factors, there is a notable trend toward data visualization platforms that convert intricate datasets into easily understandable insights. These tools facilitate swift and effective decision-making for organizations. Furthermore, machine learning platforms are becoming increasingly popular as they allow businesses to automate processes and discover hidden patterns within their datasets. Consequently, the applications of data science platforms in the business realm are extensive and diverse, encompassing everything from predictive analytics for marketing strategies to improving supply chain analytics through advanced forecasting methods. As a result, the demand for these platforms and services is prompting organizations across various sectors to boost market growth.
Data Science Platform Market: Key Segments
Based on type of component, the global data science platform market is segmented into platform and service. According to our estimates, currently, the platform segment captures the majority of the market share, due to its comprehensive tools and features. These platforms integrate tools for data preparation and deployment of machine learning models within a single or collaborative environment, helping organizations optimize their workflows.
Conversely, the service segment is expected to grow at a higher CAGR during the forecast period. This increase can be attributed to the rising trend of outsourcing services, which enables companies to take advantage of the knowledge of industry experts and technical support, ensuring efficient platform operation, minimizing downtime, and addressing challenges effectively.
Based on type of deployment, the global data science platform market is segmented into cloud and on-premises. According to our estimates, currently, the cloud deployment segment captures the majority of the market share. This can be attributed to the significant increase in the use of cloud-based data science platforms. However, the on-premises segment is expected to grow at a higher CAGR during the forecast period. This is due to the fact that on-premises deployment model is predominantly favored by large companies due to its robust security features, granting organizations complete control over their data.
Based on type of application, the global data science platform market is segmented into business operation, customer support, finance & accounting, logistics, marketing, and others. According to our estimates, currently, the marketing application captures the majority of the market share. This can be attributed to the growing demand for solutions that provide personalization, customer targeting, and behavior analysis across various organizations. Data science platforms and tools enable customized customer experiences through recommendation engines and predictive targeting.
However, the logistics segment is expected to grow at a higher CAGR during the forecast period. This growth can be attributed to the expansion of the logistics industry driven by the rapid rise of the e-commerce sector, which has increased the demand for logistics solutions to improve efficiency, optimize routing, and manage inventory.
Based on type of vertical, the global data science platform market is segmented into BFSI, energy utilities, government, healthcare, it & telecom, manufacturing, retail, and others. According to our estimates, currently, the BFSI industry captures the majority of the market share. This can be attributed to the strong demand for tools for fraud detection and risk management, which are driven by the significant amount of sensitive data related to transactions and customer information. As a result of these advantages, banks and financial institutions are increasingly utilizing big data analytics platforms to assess data, enhance decision-making, and improve customer experiences, thereby boosting operational efficiency. Additionally, the stringent regulatory requirements in this sector make enterprise data management solutions indispensable.
Based on geographical regions, the data science platform market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently North America captures the majority share of the market. Additionally, Asia is anticipated to experience remarkable growth with a higher CAGR during the forecast period. This can be attributed to the rapid progress in digital transformation and economic development in this region. The increasing prevalence of smartphones, IoT devices, enhanced internet services, and the creation of smart cities are producing significant amounts of data that require sophisticated data science software and tools, thereby leading to remarkable growth in market development.
Data Science Platform Market: Research Coverage
The report on the data science platform market features insights on various sections, including:
Key Questions Answered in this Report
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