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Data Science Platform Market Is Expected To Witness the Fastest Growth in Asia-Pacific during 2017 – 2023


Data science platform market is expected to witness a CAGR of 39.3% during the forecast period, to reach $1,95,677.5 million by 2023. The significant growth will be led by increasing demand for effective big data analysis to gain deeper consumer insights, reading consumers’ buying behavior and purchasing patterns.In terms of business functions, logistics led the global data science platform market in 2016. Among deployment types, on-premise deployment witnessed the higher growth in demand of data science platform in 2016. Among the industry verticals, demand for data science platform from healthcare industry is expected to generate largest revenue for the data science platform industry during the forecast period, however, the demand is expected to grow at the fastest rate from transportation and logistics industry in the coming years.

The logistics business function held the largest market during 2013-2026. Data science in logistics is gaining significant interest from enterprises and corporates to address number of critical business queries that deliver valuable insights to the top management and help in maximizing return on investment (RoI). Factors driving the growth of data science platform market in logistics include higher customer satisfaction, seamless expansion, robust transport network, and effective delivery system.

Geographically, North America has been the largest data science platform market, whereas Asia-Pacific is expected to witness highest growth among all regions due to growth of digitalization, smart city initiatives by various governments, increase in foreign direct investment (FDI) for smart technologies, and adoption of big data analytics at a significant growth rate in the region. Further, due to the growing economic prosperity of Asia and improving technology infrastructure, the region has high tendency to adopt data science platform solution at a rapid scale in near future.

The data science platform market consists of some major players which are offering technologically advanced data science platform services. However, due to growing data complexities each day, several new players have also entered the market providing consumer specific data science solutions. Some of the key players in the data science platform ecosystem are Microsoft Corporation, Goggle, Inc., IBM Corporation, Wolfram, DataRobot Inc., Sense Inc., RapidMiner Inc., Domino Data Lab, and, Alteryx, Inc.

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