The global data science platform market is driven by factors such as advancements in big data technologies, increasing awareness regarding the benefits of these platforms among different enterprises or organizations. Industry players are the data science platform industry is integrating AI to advance its technology platform which provides them the competitive edge over other players.

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The market for data science platform devices is primarily driven by increased demand from the BFSI sector for the platform. BSFI sector needs to simplify complexities of operations in the banking and finance sector significantly drive the global market. Increasing numbers of fraud in the banking sector related to accounting, credit cards, insurance, and others lead to the significant growth of the market.

The market is segmented into IT and telecom, healthcare and life sciences, retail and consumer goods, transportation and logistics, media and entertainment, BFSI, and others based on vertical. BFSI industry holds the largest share in the market. BFSI sector utilizes these platforms for marketing analytics, collection analytics, risk assessment and reduction, fraud analytics, operation analytics, regulatory compliance, credit policy adherence, and collection analytics.

North America accounted for the major share in the Data Science Platform industry in 2017, due to the supportive government initiatives, developed banking and financial sector and high awareness regarding the benefits of the technology.

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Alphabet, Inc., Wolfram, Microsoft Corporation, IBM Corporation, RapidMiner Inc., Domino Data Lab, Sense Inc., DataRobot Inc., Alteryx, Inc., and Dataiku are some of the key players offering platforms for data science.

Source: VynZ Research