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Data Lake Market (Offering - Solution, and Service; Deployment - Cloud-based, and On-premise; Enterprise Size - Large Enterprises, and SMEs; End-users - IT and Telecom, BFSI, Retail, Healthcare, Manufacturing, and Other): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : June, 2020

  • Rep Id : ICT1428

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on the data lake market provides an in-depth analysis of segments and sub-segments in the global as well as regional data lake market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional data lake market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global data lake market. According to the report, the global data lake market is projected to grow at a CAGR of 26.38% over the forecast period of 2020-2026.

 

Market Insight

The data lake is a repository of stored data and these data may be structured, semi-structured, or unstructured and raw. The requirement and structure of the data are not specified until it is needed. Data Lake also helps to improve business agility as this storage model supports multiple distributions and workloads of diverse sizes and types. This allows the data scientist to centralize massive data from numerous applications in the one logical storage pool. It can contain diverse types of data including files, video, audio, and databases.

 

A large amount of data is being generated on digital information platforms on a regular basis. According to IBM, 2.5 quintillion bytes of data are generated each day. This explosive amount of data creates a requirement for efficient data storage systems. One of the significant drivers in the adoption of data lakes is cost reduction. Data lakes directly consume data in its original format rather than moving it into a purpose-built data store. The data contained in data lakes can be utilized for analysis and transformation there only, thus decreasing the need and cost of another server for data transformation. Additionally, it solves the problem of big data. The information generated through Big Data is extremely diverse in nature. However, data lake’s ability to store enormous data in different forms tackles the problem. On the other hand, data lakes face some challenges which include slow onboarding and amalgamation of data and high post boarding and maintenance cost due to which several organizations are hesitant to adopt data lakes. Thus, obstructing the growth of the data lake market. Additionally, the current concern over the spread of coronavirus is also expected to have a positive impact on the data lake market. Data consumption is projected to witness a substantial increase as a direct consequence of lockdowns enforced in several worldwide to combat the spread of the deadly coronavirus. As the COVID-19 pandemic sweeps the globe, big data and AI have emerged as a crucial tool for everything from diagnosis and epidemiology to therapeutic and vaccine development. For instance, Amazon Web Services has announced that it is making available a data lake for the COVID-19 analysis. The data lake includes metrics such as case tracking data from Johns Hopkins and the New York Times and over 45,000 COVID-19 research articles.

 

Geographically, North America generated the largest revenue in the data lake market in 2019 and is expected to continue its dominance over the forecast period. Further, the increasing usage of big data technology, growing amount of data across industry verticals, and rising investments by companies in data lake solutions are the major key factors responsible for the growth of the data lake market. Companies, especially in the United States, have started using data lake solutions to produce insightful information from structured and unstructured data and stay competitive in the global data lake market. Furthermore, the Asia Pacific region is projected to be the fastest-growing region for the global data lake market owing to countries such as China and India which are adopting the new technologies.

 

Segment Covered

The report on the global data lake market covers segments such as offering, deployment, enterprise size, and end-users. On the basis of offering, the sub-markets include solution, and service. On the basis of deployment, the sub-markets include cloud-based, and on-premise. On the basis of enterprise size, the sub-markets include large enterprises, and SMEs. On the basis of end-users, the sub-markets include IT and telecom, BFSI, retail, healthcare, manufacturing, and other.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Informatica Corporation, Microsoft Corporation, Teradata, EMC Corporation, Capgemini SE, SAP SE, Oracle Corporation, Atos, Hitachi Ltd., and SAS Institute.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the data lake market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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