Data Science Platform Market Size by Research Nester Reveals the Market to Grow with a CAGR of 16.4% During 2025-2037 and Attain USD 917.5 Billion by 2037

Research Nester’s recent market research analysis on “Data Science Platform Market: Global Demand Analysis & Opportunity Outlook 2037” delivers a detailed competitor’s analysis and a detailed overview of the global data science platform market in terms of market segmentation by component, application, vertical, enterprise size, deployment mode, and by region.
Increased Integration of Cloud-based Platforms with Data Science to Promote Global Market Share of Data Science Platform
The emergence of cloud computing, with its scalable and affordable processing capacity, is revolutionizing data science platforms. Cloud computing makes it simple for data scientists to access computer resources, which is essential for putting data science models into practice. It helps data scientists reduce the weeks or even minutes required to set up an infrastructure. Furthermore, cloud computing has enabled data scientists to perform calculations on a much bigger scale than they could have with conventional equipment. The market is expanding as a result of the introduction of cloud-based data science platforms by significant players. For instance, in June 2020, three new Data and Analytics Solutions offerings were introduced by the Bank of New York Mellon Corporation to assist investment managers in better managing their data, enhancing the success of U.S.-listed fund launches, and enabling the customization of investment portfolios to preferred Environmental, Social, and Governance (ESG) factors.
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Some of the major growth factors and challenges that are associated with the growth of the global data science platform market are:
Growth Drivers:
• Growing adoption of data science tools in e-commerce
• Increasing incorporation of data-intensive business strategies
Challenges:
Businesses employ advanced analytics techniques, such as streaming analytics, machine learning, and predictive analytics, which require profound analytical abilities. An ML model requires both expertise in technology and the capacity for analytical and critical thought. The lack of individuals with the requisite knowledge and experience among many end users is a hindrance to the market expansion for data science platforms.
By component, the global data science platform market is segmented into platform and services. The platform segment is to garner a highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. The expansion of this market can be ascribed to small and medium-sized enterprises' growing utilization of data science platforms. Businesses are moving toward automation and digitization, which accelerates large data and creates more intricate business procedures. Businesses require state-of-the-art technology that allows them to quickly acquire insights from vast amounts of data in order to solve these problems.
By region, the Europe data science platform market is to generate the highest revenue by the end of 2036. The widespread use of cloud computing, the internet's popularity, the quick advancement of technology, and better connectivity are the main factors driving the rise of the European data science platform market. According to the European Commission, 91% of people aged 16 to 74 in 2023 reported using the internet at least once in the three months before the study was conducted. There is a vast amount of data as a result of these advancements. European firms are eager to leverage the value found in this amount of data to enhance their operations as they become more aware of its potential.
This report also provides the existing competitive scenario of some of the key players of the IBM Corporation, Google LLC, Microsoft Corporation, NVIDIA Corporation, Snowflake Inc., Amazon Web Services, Inc., MathWorks, Inc., Alteryx Inc., Cloudera Inc., Databricks Inc., and others.
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https://www.researchnester.com/reports/data-science-platform-market/6395
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