Data Science Platform Market Analysis

Component (Platform, Services)

The platform segment  in the data science platform market is poised to capture 82.6% revenue share by the end of 2036. The segment growth can be attributed to the increasing use of data science platforms by small and medium-sized businesses. Companies are shifting towards digitalization and automation, which speeds up big data and leads to more complex business processes. To meet these challenges, businesses need cutting-edge technologies that enable them to gain immediate insights across massive data pools. According to the World Bank Group, the number of small businesses investing in digital solutions increased from 10 to 20% between April 2020 and December 2022, while the percentage of large businesses increased from 20 to 60%.

Application (Marketing & Sales, Logistics, Finance and Accounting, Customer Support)

The marketing & sales segment in the data science platform market is expected to hold a notable share of 34.7% during the forecast period. The segment has the highest revenue share and improved return on investment (ROI) since the marketing and sales department can leverage data science to gain deeper insights into the buyer's profile and adjust the marketing budget accordingly. In addition, factors such as increased customer satisfaction, more consistent revenue generation, and reduced financial risk due to precise spending calculations all contribute to the market expansion.

Vertical (IT & Telecommunication, Healthcare, BFSI, Manufacturing, Retails and E-commerce, Energy and Utilities, Government)

The BFSI segment is estimated to gain the largest market share of 20% by 2036. The segment growth can be attributed to the increased focus on customer support and the growing adoption of advanced technologies such as AI and IoT. Banks can effectively assess and reduce risks by using data science to analyze historical data, spot trends, and create prediction models. This covers measures to detect fraud, assess credit risk, and prevent money laundering.

Our in-depth analysis of the data science platform market includes the following segments: