The data science platform market is anticipated to grow at a significant CAGR of over 25% during the forecast period. Data science platforms are generally used by scientists for various common purposes such as to plan strategy, uncover actionable insights from data and communicate those insights throughout an enterprise within a single environment. Data science platforms include a variety of technologies for machine learning and other advanced analytics uses.
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The major factor contributing to the growth of the global data science platform market include the increasing adoption of data science platforms among various enterprises, which has aided enterprises in addressing the business queries with the help of actionable insights delivered. This, in turn, has resulted in an enhanced and maximized Return on Investment (ROI) of the enterprises. Moreover, the radical changes in the roles of IT and analytics in various businesses will also aid the growth of the data science platform industry considerably. However, the high cost associated with the implementation and maintenance of the data science platform will restrict the growth of the market.
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The global data science platform market is segmented on the basis of deployment type, business function, and industry verticals. Based on deployment, the market is bifurcated into a cloud-based data science platform and on-premises data science platform. Based on the business function, the market is sub-segmented into marketing, sales, logistics, and others. Based on the industry verticals, the market is sub-segmented into IT & telecommunication, healthcare, BFSI, manufacturing, retail, and others.
Market Segmentation
Global Data Science Platform Market by Deployment Type
- Cloud-Based
- On-Premises
Global Data Science Platform Market by Business Function
- Marketing
- Sales
- Logistics
- Other Applications
Global Data Science Platform Market by Industry Verticals
- IT & Telecommunication
- Healthcare
- BFSI
- Manufacturing
- Retail
- Others
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