Increasing Need For Advanced Analytic Techniques Boosts The Data Science Platform Market Demand

The Business Research Company’s Data Science Platform Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, February 23, 2022 /EINPresswire.com/ — The increase in demand for big data analytics is expected to propel the growth of the global data science platform market during the forecast period. Big data analytics employs advanced analytic techniques to analyze a mixture of structured, semi-structured, and unstructured data collected by businesses and entities. Data science is the practice of extracting important information from data using advanced analytics techniques and scientific principles for enterprise decisions, strategic planning, and other purposes. For instance, according to Techjury, a US-based software company, the big data analytics sector is projected to reach $77 billion by 2023. Therefore, the increasing demand for big data analytics drives the data science platform market growth.

The adoption of analytic apps is shaping the data science platform market. Major data science companies that use applications are focusing on adopting analytics applications that will help them better understand consumer behavior. Data analytic apps can tell users if the app is detected, compare downloads and in-app purchases, monitor, and evaluate KPIs, and give users in-app analytics insights, among other things. For instance, in May 2021, InCorta, Inc., a US-based company that provides data analytics software launched the Incorta Mobile app. The Incorta Mobile App allows Incorta users to access, evaluate, and analyze business information from anywhere, at any time, with the ability to drill down into particular transaction details.

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The global data science platform market size is expected to grow from $57.08 billion in 2021 to $74.65 billion in 2022 at a compound annual growth rate (CAGR) of 30.8%. The change in the market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The global data science platform market share is expected to reach $214.24 billion in 2026 at a CAGR of 30.2%.

In January 2021, TIBCO Software Inc., a US-based enterprise data company acquired Information Builders for an undisclosed amount. Through this acquisition of Information Builders, analytics capabilities and data management will be added to the advanced TIBCO Connected Intelligence platform. Information Builders is a US-based company that hat specializes in data integration, data quality, and business intelligence.

Major players covered in the global data science platform industry are Microsoft Corporation, Google, IBM, Oracle, Alteryx, SAP SE, Teradata, TIBCO Software, RapidMiner Inc., MathWorks, SAS Institute, Wolfram Research Inc, Dataiku, Fair Issac Corporation (FICO), and Altair.

TBRC’s global data science platform market report is segmented by type into solutions, services, by deployment into cloud-based, on-premise, by end-user into BFSI, telecommunication, transportation and logistics, healthcare, manufacturing, others.

Data Science Platform Global Market Report 2022 – By Type (Solutions, Services), By Deployment (Cloud-Based, On-Premise), By End User (BFSI, Telecommunication, Transportation And Logistics, Healthcare, Manufacturing) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a data science platform market overview, data science platform market forecast, data science platform market size and growth for the whole market, data science platform market segments, geographies, data science platform market trends, data science platform market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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