The employment of cloud-based technologies in several sectors is estimated to open up the prospects for the contenders in the global data lakes market. The popularity of marketing data lakes is estimated to further the development of the data lakes market share. A data lake is a repository of data in its natural format and includes structured, semi-structured, unstructured and binary data facilitating collocation of data from a centralized data store.
The global data lakes market Share is projected to reach USD 21.82 Billion, growing at a CAGR of 19.52% during the review period of 2020 to 2030.
It is estimated that worldwide digital healthcare data alone has reached a quantum figure of 500 petabytes in 2012 and which is projected to reach 25,000 petabytes by 2020. The other drivers for the explosive growth of data are the necessity of backup owing to Government regulation to store and maintain a timeline business data, growing volume of larger file types such as media files, developing social networking and media websites, internet connectivity, bandwidth, and others. The development of high volume storage technology such as Blu-ray disk with improved network connectivity features is driving down the cost of big data lakes storage. Solid state drives provide better performance, higher readability, robustness, high data speed, stability and reliability, and resiliency, is a further market attraction.
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The segmental investigation of the data lakes market is conducted based on business function, component, organization size, vertical and deployment. The vertical based segmentation of the data lakes market is segmented into healthcare, manufacturing, BFSI, media & entertainment, energy & utilities, IT & telecommunication, and others. The component basis of segmenting the data lakes market is divided between software and service. The software sub-segment is additionally segmented into data integration and management, data discovery, data lakes analytics and data visualization. The service sub-segment is further segmented into professional services and managed services. On the basis of the business function, the data lakes market is segmented into operations, sales, marketing, finance and human resources. On the basis of organization sizes, the data lakes market is bifurcated into large enterprises and SMEs. On the basis of deployment, the data lakes market is divided into cloud and on-premise. Based on the regions, the data lakes market is segmented into North America, APAC, Europe and other significant markets.
North America region led by the U.S. accounts for the most significant market share owing to the faster adoption of latest technology, the presence of substantial players and others. Europe is led by Germany, France, and the U.K. The adoption of Internet of things, increase in adoption of cloud-based technologies and rise in demand for business agility are other factors driving the market of the developed regions. However, the market is expected to favor the Asia Pacific regions led by India and China shortly.
The Middle East and Africa market is anticipated to be dominated by Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
Some of the leading players in the global data lakes market are Microsoft Corporation (U.S.), Informatica (U.S.), Teradata Corporation (U.S.), Capgemini (France), EMC Corporation (U.S.), Oracle Corporation (U.S.), Zaloni (U.S.), Cloudera Inc. (U.S.), SAS institute (U.S.), SAP SE (Germany), Hitachi (Japan), ATOS SE (France) and others. Azure data lake analytics and Hadoop data lake analytics are the leading data lake architectures in use in the current market.
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Data Lakes Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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