Market Synopsis
A data science platform is a framework of the entire life cycle of a data science project. Data science platform contains all the tools required for executing the lifecycle of the data science project spanning across different phases such as data ideation, integration and implementation, model development and model deployment. Data science platform helps organizations to enhance their analysis by helping them run, track, reproduce, share and deploy analytical models faster. In general, all these tasks require lot of engineering effort and are difficult to build and maintain analytical models. Data science platforms give the data science teams a leg up in the competitive race to leverage analytics effectively.

The global data science platform market is being driven by factors such as global rapid advancement in big data technologies, demand for big data analysis to gain deeper insights into consumer buying patterns, and need for ease of use technological methods to drive business effectiveness. Data science platform aid to facilitate a high level of association across data scientists, business analysts, data engineers, and developers in different fields of business. Data Science platforms help the organizations to prepare data, build models and operationalize analytics.

The intensity of rivalry in the global Data Science Platform Market is moderate. With the emergence of new data science technologies, vendors are either enhancing their products in line with the changing end user requirements or aggressively engaging into organic and inorganic growth strategies in the global market.

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 are significantly contributing to the growth of the data science platform market and are estimated to impact the market growth during the forecast period.

Segmentation
The market for global data science platform market is divided on the basis of business function, deployment model, vertical and region. On the basis of business function the segment is further classified into marketing, sales, logistics, human resources, operations, risk management, customer support and many more. On the basis of deployment the segment is further classified into on-demand and on-premise. The global data science platform covers a wide area of verticals such as BFSI, retail, healthcare, IT, transportation, energy and utilities, government and defense and many more.

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The global data science platform marker is estimated to grow up to USD 115 billion with a CAGR ~ 29% through the forecast period.

Key Findings
• First a real estate from Durham, using data science and machine learning to help real estate agents. Their SaaS platform analyzes over 700 personal factors such as demographics, income changes, and purchasing behavior and life events of every agent’s contact and cross-references them against national averages. The resulting seller score indicates how likely they are to sell their home, helping agents know exactly when to reach out for the best chance at landing a deal.
• Veritone, Inc., a leading provider of artificial intelligence (AI) and cognitive solutions, has acquired the advanced data analytics software and related intellectual property (IP) assets of Atigeo Corporation.
• American Family Insurance is accelerating its use of data through advanced analytics and artificial intelligence (AI) with its purchase of Chicago-based data and analytics software company Networked Insights.

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Regional Analysis
The market for global data science platform market is studied across North America, Europe, Asia Pacific and Rest of the World. The North American market is expected to hold the largest market share, owing to capital intensive industries present across the region. Enterprises are looking to embrace data science platform as the revered platform which will help them have a competitive edge in the marketplace. Asia Pacific region is anticipated to have the highest growth rate during the forecast period. Industrialization, digitalization and several smart city initiatives by governments intensify the adoption of data science platform.

Some of the key players in global data science platform ecosystem comprises solutions and service providers are Microsoft Corporation (U.S.), IBM Corporation (U.S.), Google, Inc. (U.S.), Wolfram (U.S.), DataRobot Inc. (U.S.), Sense Inc. (U.S.), RapidMiner Inc. (U.S.), Domino Data Lab (U.S.), Dataiku (France), Alteryx, Inc. (U.S.), and Continuum Analytics, Inc. (U.S.).

Intended Audience
• Independent Software Vendors
• Business Analytics Software Providers
• IT Service Providers
• Cloud Service Providers
• System Integrators
• Application Design and Software Developers

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