PUBLISHER: QKS Group | PRODUCT CODE: 1669175
PUBLISHER: QKS Group | PRODUCT CODE: 1669175
This product includes two reports: Market Share and Market Forecast.
QKS Group Reveals that Data Science and Machine Learning Platforms Market is Projected to Register a CAGR of 32% by 2028.
The market for Data Science and Machine Learning (DSML) platforms is experiencing remarkable growth worldwide, driven by the increasing adoption of artificial intelligence (AI) and machine learning (ML) across various industries. Organizations are leveraging these platforms to gain insights from their data, automate processes, and make data-driven decisions. The global market is characterized by strong competition among leading tech giants such as Google, Microsoft, Amazon, IBM, and emerging players like DataRobot, Databricks, and H2O.ai. These platforms offer a wide range of capabilities, including data preparation, model development, deployment, and monitoring, catering to both technical and non-technical users. The proliferation of cloud computing has significantly contributed to the market's expansion, enabling scalable and cost-effective DSML solutions. Additionally, the integration of DSML platforms with other technologies like big data, Internet of Things (IoT), and edge computing is further enhancing their utility and driving demand. The market is also seeing increased investments in research and development to improve platform functionalities and user experience. With an estimated global CAGR of around 30%, the DSML platforms market is set to continue its rapid expansion, reflecting the critical role of data science and machine learning in modern business strategies.
According to Quadrant Knowledge Solutions, "A data science and machine learning platform is an integrated system/hub built on both code-based libraries and low-code/no-code tools. This platform enables collaboration among data scientists and other stakeholders like data engineers and business analyst across different stages of the data science lifecycle, such as business understanding, data access and preparation, visualization, experimentation, model building, and insight generation. The platform facilitates machine learning engineering tasks, covering data pipeline development, feature engineering, deployment, testing and predictive analysis. The platform gives options between local clients, browsers, or completely managed cloud services to businesses depending upon their requirements."
QKS Group Reveals that Data Science and Machine Learning Platforms Market is Projected to Register a CAGR of 32% by 2028.
The market forecast for Data Science and Machine Learning Platforms worldwide shows promising growth potential up to 2028. With increasing demand for advanced analytics and AI-driven insights across various industries such as healthcare, finance, retail, and manufacturing, these platforms are poised for substantial expansion. Factors driving this growth include the proliferation of big data, the need for predictive analytics, and advancements in cloud computing technologies. Additionally, the integration of AI and machine learning into business processes to enhance decision-making and operational efficiency further propels market growth. As organizations prioritize data-driven strategies and digital transformation initiatives, investments in robust data science and machine learning platforms are expected to soar, creating a competitive landscape marked by innovation and scalability.