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The Global Data Lakes Market was valued at USD 2.65 billion in 2016 and is projected to reach USD 25.55 billion by 2025, growing at a CAGR of 28.63% from 2017 to 2025.
A data lake is a massive, easily accessible, centralized repository of large volumes of structured and unstructured data. Each data element in a lake is assigned a unique identifier and tagged with a set of extended metadata tags. Data lakes provides several benefits to enterprises which include â€" linear scalability, converge all data sources, accommodate high speed data, implant the schema, provides advanced analytics, high flexibility, elimination of data silos, and unlimited ways to query the data.
1. Market Drivers
1.1 Rising adoption of IoT
1.2 Increasing volume and variety of business data
1.3 Need for In-depth insights to drive competitive advantage
1.4 Increasing need for business agility and accessibility
1.5 Rising adoption by small and medium businesses
1.6 Rising adoption of advanced analytics
2. Market Restraints
2.1 Concerns for data security and privacy
2.2 Lack of technical expertise in the field of advanced analytics
2.3 Poor long-term data governance process
2.4 Less knowledge about newer data storage and analytics techniques
The Global Data Lakes Market is segmented on the organization size, component, business function, deployment model, vertical, and region.
1. Organization Size:
1.1 Large Enterprises
1.2 Small and Medium Organizations
2. By Component:
2.1.1 Data Visualization
2.1.2 Data Integration and Management
2.1.3 Data Discovery
2.1.4 Data Lakes Analytics
2.2.1 Managed services
2.2.2 Professional services
220.127.116.11 Support and maintenance services
18.104.22.168 Data Lakes Services
22.214.171.124 System Integration and Deployment
3. By Business Function:
3.4 Human Resources
4. By Deployment Mode:
5. By Vertical:
5.3 IT and Telecom
5.4 Banking, Financial Services, and Insurance (BFSI)
5.5 Media and Entertainment
5.6 Retail and e-commerce
6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
The major players in the market are as follows:
1. Oracle Corporation
2. SAP SE
3. Microsoft Corporation
4. Hitachi Data Systems
7. EMC Corporation
8. ATOS SE
9. SAS Institute
10. Teradata Corporation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Data Lakes Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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