Global Data Science Platform Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2032

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Global Data Science Platform Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2032

  • ICT
  • Oct 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60
  • Author : Megha Gupta

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Global Data Science Platform Market

Market Size in USD Billion

CAGR :  % Diagram

Bar chart comparing the Global Data Science Platform Market size in 2024 - 204.58 and 2032 - 1568.85, highlighting the projected market growth. USD 204.58 Billion USD 1,568.85 Billion 2024 2032
Diagram Forecast Period
2025 –2032
Diagram Market Size (Base Year)
USD 204.58 Billion
Diagram Market Size (Forecast Year)
USD 1,568.85 Billion
Diagram CAGR
%
Diagram Major Markets Players
  • IBM (U.S.)
  • DataRobot Inc. (U.S.)
  • apheris AI GmbH (Germany)
  • The Digital Talent Ecosystem (U.S.)
  • Databand (Israel)

Global Data Science Platform Market Segmentation, By Component Type (Platform, Services, Support and Maintenance, Consulting, and Deployment and Integration), Function Division (Marketing, Sales, Logistics, Finance and Accounting, Customer Support, Business Operations, and Others), Deployment Model (On-Premises and Cloud based), Organization Size (Small and Medium-sized Enterprises (SMEs) and Large Enterprises), End User Application (Banking, Financial Services, and Insurance (BFSI), Telecom and IT, Retail and E-commerce, Healthcare and Life sciences, Manufacturing, Energy and Utilities, Media and Entertainment, Transportation and Logistics, Government, and Others) - Industry Trends and Forecast to 2032

Data Science Platform Market Z

 Data Science Platform Market Size    

  • The global data science platform market size was valued at USD 204.58 billion in 2024 and is expected to reach USD 1568.85 billion by 2032, at a CAGR of 29.00% during the forecast period
  • This growth is driven by factors such as the exponential increase in data generation, advancements in artificial intelligence (AI) and machine learning (ML), widespread adoption of cloud computing, and growing emphasis on data-driven decision-making

Data Science Platform Market Analysis

  • A data science platform is an integrated environment that provides tools, libraries, and infrastructure for data scientists to develop, manage, and execute data-driven projects. It enables users to collect, analyze, and visualize large datasets while facilitating collaboration between teams
  • These platforms often support various programming languages (such as Python, R, and SQL), machine learning algorithms, and data pipelines for efficient model building and deployment.
  • Data science platforms also offer capabilities such as version control, automation, and scalability, making it easier for organizations to leverage insights from data in a structured and repeatable way for decision-making
  • North America is expected to dominate the data science platforms market with 34.6% due to well-established technological infrastructure, supporting data-intensive workloads and facilitating the adoption of data science platforms
  • Asia-Pacific is expected to be the fastest growing region in the data science platform market during the forecast period due to surge in volumes of enterprise and consumer data, creating a demand for advanced analytics solutions
  • Platform segment is expected to dominate the market with a market share of 83.9% due to its technological improvements, such as data mining, advanced computing, and robotics, significantly drive the segment's growth. These advancements empower data scientists to create, train, scale, and share machine learning algorithms more effectively

Report Scope and Data Science Platform Market Segmentation      

Attributes

Data Science Platform Key Market Insights

Segments Covered

  • By Component Type: Platform, Services, Support and Maintenance, Consulting, and Deployment and Integration
  • By Function Division: Marketing, Sales, Logistics, Finance and Accounting, Customer Support, Business Operations, and Others
  • By Deployment Model: On-Premises and Cloud based
  • By Organization Size: Small and Medium-sized Enterprises (SMEs) and Large Enterprises
  • By End User Application: Banking, Financial Services, and Insurance (BFSI), Telecom and IT, Retail and E-commerce, Healthcare and Life sciences, Manufacturing, Energy and Utilities, Media and Entertainment, Transportation and Logistics, Government, and Others

Countries Covered

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • U.K.
  • Netherlands
  • Switzerland
  • Belgium
  • Russia
  • Italy
  • Spain
  • Turkey
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Australia
  • Thailand
  • Indonesia
  • Philippines
  • Rest of Asia-Pacific

Middle East and Africa

  • Saudi Arabia
  • U.A.E.
  • South Africa
  • Egypt
  • Israel
  • Rest of Middle East and Africa

South America

  • Brazil
  • Argentina
  • Rest of South America

Key Market Players

  • IBM (U.S.)
  • DataRobot Inc., (U.S.)
  • apheris AI GmbH (Germany)
  • The Digital Talent Ecosystem (U.S.)
  • Databand (Israel)
  • dotData (U.S.)
  • Explorium Inc., (U.S.)
  • Noogata (Israel)
  • Tecton Inc., (U.S.)
  • Spell Designs Pty Ltd (U.S.)
  • Arrikto Inc., (U.S.)
  • Iterative (U.S.)
  • Google Inc (U.S.)
  • Microsoft (U.S.)
  • SAS Institute Inc., (U.S.)
  • Amazon Web Services, Inc. (U.S.)
  • The MathWorks, Inc. (U.S.)
  • Cloudera Inc., (U.S.)
  • Teradata (U.S.)
  • TIBCO Software Inc. (U.S.)

Market Opportunities

  • Open-Source Innovation
  • Advances in Predictive Analytics

Value Added Data Infosets

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Data Science Platform Market Trends

“Accelerated AI Integration and Platform Consolidation”

  • The Global Data Science Platform Market is experiencing a significant shift towards AI-driven solutions and platform consolidation
  • Companies are increasingly integrating advanced AI capabilities into their data science platforms to enhance automation, predictive analytics, and decision-making processes 
    • For instance, Databricks' recent acquisition of Neon, a database start-up specializing in PostgreSQL-based technology, exemplifies this trend
  • This strategic move aims to bolster Databricks' AI-powered data management capabilities, enabling enterprises to build AI bots and agents more efficiently
  • Such consolidations are expected to streamline data workflows and provide more cohesive solutions to meet the growing demand for AI-driven insights

Data Science Platform Market Dynamics

Driver

“Exponential Growth in Data Generation”

  • The proliferation of digital activities has led to an unprecedented increase in data generation, fueling the demand for robust data science platforms
  • With the rise of IoT devices, social media, and e-commerce, organizations are accumulating vast amounts of data daily
  • To harness this data effectively, businesses require sophisticated tools and platforms to analyze, process, and derive actionable insights 
    • For Instance, Databricks has reported a 60% year-over-year revenue growth, driven by the increasing need for advanced data analytics solutions to manage unstructured data and support AI applications
  • This surge in data underscores the necessity for scalable and efficient data science platforms

Opportunity

“Democratization of AI and ML Tools”

  • The democratization of artificial intelligence (AI) and machine learning (ML) tools presents a significant opportunity for the data science platform market
  • As these technologies become more accessible, organizations are empowered to leverage advanced analytics without requiring extensive expertise
  • This trend is exemplified by Microsoft's collaboration with NVIDIA to advance healthcare and life sciences innovation using cloud AI and accelerated computing
  • The partnership aims to improve patient care by accelerating access to precision medicine and AI-powered diagnostics 
  • Such initiatives highlight the potential of AI and ML tools to drive innovation across various sectors, creating opportunities for data science platforms to cater to a broader audience

Restraint/Challenge

“Data Privacy and Security Concerns”

  • Despite the growth prospects, data privacy and security concerns pose significant challenges to the adoption of data science platforms
  • The increasing frequency of data breaches and stringent regulations such as GDPR and CCPA compel organizations to prioritize data protection measures 
    • For instance, the rising incidences of data breaches across several industries have become significant barriers to implementing data science platforms
  • These concerns necessitate the development of secure and compliant platforms that can mitigate risks and ensure the ethical use of data, thereby influencing the market dynamics

Data Science Platform Market Scope

The market is segmented on the basis of component type, function division, deployment model, organization size, and end user application.

Segmentation

Sub-Segmentation

By Component Type

  • Platform
  • Services
  • Support and Maintenance
  • Consulting
  • Deployment and Integration

By Function Division

  • Marketing
  • Sales
  • Logistics
  • Finance and Accounting
  • Customer Support
  • Business Operations
  • Others

By Deployment Model

  • On-Premises
  • Cloud based

By Organization Size

  • Small and Medium-sized Enterprises (SMEs)
  • Large Enterprises

By End User Application

  • Banking, Financial Services, and Insurance (BFSI)
  • Telecom and IT
  • Retail and E-commerce
  • Healthcare and Life sciences
  • Manufacturing
  • Energy and Utilities
  • Media and Entertainment
  • Transportation and Logistics
  • Government
  • Others

In 2025, the platform is projected to dominate the market with a largest share in component type segment

The platform segment is expected to dominate the data science platform market with the largest share of 83.4% in 2025 due to its technological improvements, such as data mining, advanced computing, and robotics, significantly drive the segment's growth. These advancements empower data scientists to create, train, scale, and share machine learning algorithms more effectively. Automation is becoming more and more popular in different industries.

The BFSI is expected to account for the largest share during the forecast period in end user application segment

In 2025, the BFSI segment is expected to dominate the market with the largest market share of 51.31% due to its increasingly leverages big data analytics to enhance decision-making, improve customer experiences, and drive operational efficiencies. With the growing volume of financial transactions and customer interactions, banks and financial institutions are adopting data science platforms to analyze vast amounts of data for insights.

Data Science Platform Market Regional Analysis

“North America Holds the Largest Share in the Data Science Platform Market”

  • North America holds a significant share of the global data science platform market with 34.6%, driven by substantial investments in advanced analytics across various industries, including BFSI (Banking, Financial Services, and Insurance), healthcare, retail, and telecommunications
  • The region boasts a well-established technological infrastructure, supporting data-intensive workloads and facilitating the adoption of data science platforms
  • Numerous homegrown data science platform providers have a significant market share in North America, contributing to the region's dominance
  • The presence of a robust economy and favorable business environment further enhance North America's position as a leader in the data science platform market

“Asia-Pacific is Projected to Register the Highest CAGR in the Data Science Platform Market”

  • Countries such as China, India, and Indonesia are undergoing significant digital transformation, leading to increased adoption of data science platforms
  • Policies such as China's New Generation AI Development Plan and India's National Strategy for Artificial Intelligence are fostering the growth of data science platforms
  • The region is experiencing a tremendous surge in volumes of enterprise and consumer data, creating a demand for advanced analytics solutions
  • Institutions such as IIT Guwahati launching data science programs are contributing to a skilled workforce, further accelerating market growth
  • Increasing investments in AI and machine learning technologies are propelling the adoption of data science platforms across various sectors

Data Science Platform Market Share

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

The Major Market Leaders Operating in the Market Are:

  • IBM (U.S.)
  • DataRobot Inc., (U.S.)
  • apheris AI GmbH (Germany)
  • The Digital Talent Ecosystem (U.S.)
  • Databand (Israel)
  • dotData (U.S.)
  • Explorium Inc., (U.S.)
  • Noogata (Israel)
  • Tecton Inc., (U.S.)
  • Spell Designs Pty Ltd (U.S.)
  • Arrikto Inc., (U.S.)
  • Iterative (U.S.)
  • Google Inc (U.S.)
  • Microsoft (U.S.)
  • SAS Institute Inc., (U.S.)
  • Amazon Web Services, Inc. (U.S.)
  • The MathWorks, Inc. (U.S.)
  • Cloudera Inc., (U.S.)
  • Teradata (U.S.)
  • TIBCO Software Inc. (U.S.)

Latest Developments in Global Data Science Platform Market

  • In June 2024, IBM Corporation announced a collaboration with Telefónica Tech. This collaboration will drive the adoption of Artificial Intelligence (AI), analytics, and data governance solutions and respond to the continuous and dynamically developing requirements of enterprises
  • In March 2024, Microsoft announced a collaboration with NVIDIA to advance healthcare and life sciences innovation using cloud AI and accelerated computing. The collaboration aims to improve patient care by accelerating access to precision medicine and AI-powered diagnostics, ultimately driving significant advancements in the healthcare industry
  • In January 2023, Science Applications International Corp. introduced the "Tenjin" data science platform, a versatile solution that supports low-code to full-code development for AI and machine learning applications. Powered by Dataiku, Tenjin facilitates the entire lifecycle of AI and ML model development, from deployment to training and automation, along with advanced data visualization tools. This platform aims to simplify complex processes, making AI accessible to a wider range of businesses
  • In October 2022, IBM Corporation launched the Diamondback tape library, an advanced storage solution utilizing LTO technology. This innovative product boasts an impressive capacity of up to 27 petabytes (PB) of data storage within a single server rack. The Diamondback is designed to meet the increasing demands for data storage, offering scalability and reliability for organizations needing to manage vast amounts of information securely and efficiently
  • In June 2022, SAS Institute expanded its capabilities by acquiring Kamakura Corporation, enhancing its portfolio with integrated risk solutions. This acquisition focuses on delivering specialized professional services in Asset Liability Management (ALM) and other financial sectors, including banking. By combining resources and expertise, SAS aims to offer comprehensive solutions that address complex risk management challenges, helping organizations make informed financial decisions and navigate market uncertainties effectively     

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Research Methodology

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Frequently Asked Questions

The global data science platform market size was valued at USD 204.58 billion in 2024.
The global data science platform market is to grow at a CAGR of 29.00% during the forecast period of 2025 to 2032.
The data science platform market is segmented into five notable segments based on component type, function division, deployment model, organization size, and end user application. On the basis of component type, the market is segmented into platform, services, support and maintenance, consulting, and deployment and integration. On the basis of function division, the market is segmented into marketing, sales, logistics, finance and accounting, customer support, business operations, and others. On the basis of deployment type, the market is segmented into on-premises and cloud based. On the basis of organization size, the market is segmented into small and medium-sized enterprises (SMES), large enterprises. On the basis of end user application, the market is segmented into banking, financial services, and insurance (BFSI), telecom and it, retail and e-commerce, healthcare and life sciences, manufacturing, energy and utilities, media and entertainment, transportation and logistics, government, and others.
Companies such as IBM (U.S.), DataRobot Inc. (U.S.), apheris AI GmbH (Germany), The Digital Talent Ecosystem (U.S.), Databand (Israel), are the major companies in the data science platform market.

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