Data Science Platform Market Regional Analysis:
North America Market Insights
North America industry is predicted to dominate majority revenue share of 36% by 2035. The market growth can be accredited to the presence of major key players across various industries and their continuous advancements and market strategies. For instance, in May 2023, Microsoft Fabric, an end-to-end, unified analytics platform that combines all the data and analytics capabilities required by enterprises, was presented by Microsoft Azure.
By combining technologies such as Power BI, Azure Synapse Analytics, and Azure Data Factory into a single, cohesive platform, Fabric enables data scientists and business executives to fully utilize their data and build the groundwork for the AI era. Also, increasing investment in advanced technologies such as AI, IoT, and machine learning is another factor escalating the market growth in the region.
The U.S. market for data science platforms is expanding as a result of the increased use of cutting-edge technology and the availability of infrastructure to facilitate the application of advanced analytics. According to a survey by Pew Research Center in 2022, 27% of Americans interact with AI several times a day. Data science platforms in the country serve a wide range of industries, including finance, healthcare, retails, technology, and government, reflecting the broad adoption and integration of data science across various sectors.
Many key companies and industries in Canada find data science and discovery platforms very effective, which is propelling market growth. The increasing need for businesses to make data-driven decisions and the growing importance of good data management are driving the market growth in the region.
APAC Market Insights
APAC will also encounter huge growth for the data science platform market during the forecast period owing to the recent advances in big data analytics. Many APAC countries are undergoing rapid digital transformation, leading to increased adoption of data science platforms across various sectors. Moreover, various governments in the region are implementing policies and initiatives to promote digital innovation and data-driven decision-making.
In China, the government is highly investing in big data analytics tools considering their vast applications and uses. However, due to the importance of the business and increasing market competitiveness, the retail sector and online retail sales will demand customer analytics the most. According to the National Bureau of China, China spent over USD 4714.39 billion on online retail transactions, representing a 1.2% rise.
The Government of South Korea supports digital transformation and smart technology initiatives such as the Digital New Deal and Smart Korea projects. These initiatives promote the adoption of advanced data science tools and technologies. Moreover, the country has strong educational and research institutions focusing on data science and related fields. This contributes to the development of new technologies and methodologies in the data science market.
Data science is thriving in India, due to the country's rapidly developing technical environment, which includes widespread internet connectivity and an increasing number of mobile devices. According to the Press Information Bureau (PIB), in September 2020, the total number of broadband connections reached 726.32 million. This has accelerated the growth of internet traffic, with wireless data usage totaling 75.21 Exabytes from January to September 2020. This framework makes it easier to collect, store, and analyze vast amounts of data, accelerating the market growth.
