Global Data Science Platform Market Size, Share, Development, Growth and Demand Forecast to 2023 By P&S Market Research

Market Overview

Data science refers to the field of next generation computing, where certain tools and algorithms are applied to the big data for deep analysis. Data science platform is the integration of mathematical programming, statistics, various problem solving techniques, data filtering methods, and other algorithms. Various organizations deploy data science platform to extract valuable insights out of the huge structured and unstructured raw data present within their ecosystem.

Market Dynamics

The global 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.
Trends
Huge spending on big data and analytics, and rapid advancement in artificial intelligence (AI) are some of the key trends observed in the global data science platform market. Moreover, the global data science platform market is expected to witness rapid growth, owing to the continuous development of data driven technologies in today’s complex IT infrastructure.
Growth Drivers
The global data science platform market is being driven by factors such as global rapid advancement in big data technologies, demand for big data analysis to gain deeper insights into consumer buying patterns, and need for ease of use technological methods to drive business effectiveness.
Opportunities
Tapping the increasing inclination of enterprises toward data accelerated business strategies, and end to end implementation of data science platform for greater RoI are some major opportunities for the growth of global data science platform market. 
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