Data science is primarily concerned with extracting information from data sets, which are often huge in size. Data science entails pre-processing of data, which includes removing undesired data and mistakes before analyzing and presenting the findings to the company to make educated decisions. Data scientists may use a data science platform to develop future strategies and make educated judgments based on existing data. The data science platform provides a flexible environment that allows enterprises to incorporate data-driven choices into operational and customer-facing systems to improve business outcomes and the customer experience.
During the forecast period (2020–2027), the worldwide data science platform market is predicted to grow at a CAGR of 29.8 percent. The rising volume of data, as well as getting access to corporate data from various departments throughout the business, is projected to boost the data science platform market. According to the International Data Corporation (IDC), the global datasphere was 33 zettabytes in 2018, and it is predicted to expand to 175 zettabytes by 2025, creating a tremendous demand for data science platforms to handle the data.
North America is predicted to have the largest market share in the global data science platform market in 2020 and to maintain its dominance throughout the forecast period. The rise in the North American market may be ascribed to increased demand for IoT applications and cloud storage, which generate massive amounts of data and necessitate the use of modern data handling techniques. According to Coherent Insights Market Analysis, the United States created 6.9 zettabytes of data in 2018, with that figure predicted to climb to 30.6 zettabytes by 2025. Furthermore, North American data science platform providers are working on the creation of technologically sophisticated data science that can handle massive amounts of data, as well as improving the organization's data handling capabilities. For example, the North American IT behemoth Oracle will debut the new Oracle Cloud Infrastructure Data Science Service in February 2020. This service will enable the data scientist team to cooperate on the creation, deployment, and maintenance of machine learning models, increasing the organization's machine learning model deployment speed.