Data Lakes Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, China, India, Japan, Australia & New Zealand (ANZ), South Korea, Southeast Asia, Brazil, Mexico, Argentina, Colombia, South Africa, UAE, Saudi Arabia, Israel) Industrial Analysis Report, Growth Potential, 2021 – 2027
Report ID: GMI4672
Data Lakes Market size is poised to see a tremendous growth from 2020 to 2026. Data lake is the repository of stored data, which can be utilized as per the requirements of enterprises. The major benefits of data lakes include high-speed retrieval of data, high scalability, and low cost of data storage. Data lakes save time of organizations by doing all the basic operations, such as data cleaning and Extraction, Transformation & Load (ETL), on the data. This allows analysts to spend time in analyzing the actual data.
The adoption of Internet of Things (IoT) has resulted in huge chunks of data generation, which has led to growth of the data lakes market. The robust platform of data lake can handle the highly varied information generated by big data, which is another reason that organizations are shifting toward data lake.
On the basis of component, the market is segmented into solutions and services. Solutions are further segmented into data discovery, data management, data analytics, and data visualization. Services are further segmented into consulting, maintenance, and system integration. Data lake helps organizations to integrate datasets, which seems to be unrelated to each other. For instance, organizations use data lakes to combine different types of data, such as temperature or traffic, to make strategic decisions.
Based on deployment mode, organizations can be categorized into on-premise and cloud model. Cloud-based models are expected to dominate the data lakes market owing to flexibility and cost effectiveness of cloud-based deployments. On-premise models require significant upfront investments, whereas cloud models require an operating expenditure that is recovered due to high ROI. The low cost of entry in cloud models has spurred businesses to prefer cloud-based deployments.
On the basis of organization size, the data lakes market is segmented into large enterprises and Small & Medium Enterprises (SMEs). SMEs are able to utilize & incorporate data lakes in their businesses due to the reduction in overall cost. Large enterprises are using data lakes in order to extract insights from the huge chunk of data being generated.
On the basis of end use, the market is segmented into BFSI, telecommunication, retail, e-commerce, healthcare, manufacturing, energy, media, and government. E-commerce companies are using data lakes to generate insights. For instance, the demand forecasting can be improved by e-commerce retailers if customer profiles storing the consumer’s behavior are created.
North America dominated the overall data lakes market in 2019 and is expected to continue its dominance over the forecast period. This is attributed to presence of major players in the field of data lakes, such as IBM, Microsoft, and Snowflake, the overall increase in the generation of data, and advancements in big data technology. Asia Pacific is also expected to see a major growth over the forecast period due to technological advancements in countries including China and India.
The leading enterprises in the data lakes market are providing solutions, which are easy to implement and innovative. For instance, in December 2019, Zaloni introduced its data platform on Amazon Web Service, which makes the deployment of data lakes an easy process. The key players in the market are Microsoft Corporation, Informatica, Teradata Corporation, Capgemini, Cloudera Inc., SAS Institute, SAP SE, Hitachi, EMC Corporation, Oracle Corporation, Zaloni, and ATOS SE.
Market by Component, 2015 - 2026 (USD Million)
- Data discovery
- Data integration and management
- Data lake analytics
- Data visualization
- System integration
Market by Deployment, 2015 - 2026 (USD Million)
Market by Organization Size, 2015 - 2026 (USD Million)
- Large enterprises
Market by End User, 2015 - 2026 (USD Million)
The above information has been provided for the following regions and countries:
- North America
- Australia & New Zealand (ANZ)
- South Korea
- Southeast Asia
- Latin America
- South Africa
- Saudi Arabia
- ATOS SE
- Capgemini SE
- Cloudera Inc.
- Databricks, Inc.
- EMC Corporation
- Hitachi Ltd.
- IBM Corporation
- Informatica Teradata Corporation
- Microsoft Corporation
- Oracle Corporation
- Qubole, Inc.
- SAP SE
- SAS Institute
- Snowflake Inc.
- Snowplow Analytics Limited
- Zaloni Inc.
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