The global data lake market size is projected to reach a value of USD 24,308.0 million by 2025, growing at a CAGR of 21.7%. In several businesses, data lakes have become an economical choice, rather than a data warehousing choice. Similar to data lakes, data warehousing requires additional computer processing prior to reaching the warehouse. Owing to the amount of operations and resources involved in constructing the database for warehouses, the cost of maintaining a data lake is lower than a data warehouse thus driving the global data lake market.
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The global data lake market segmented based on end user was dominated by BFSI segment in 2018. Banks have ramped up the use of data lakes to merge data from multiple domains and create a central database. Banks invest in data engineers to provide more sensitive data lakes to meet customer needs and also seek to increase the utility of data for on-go solutions. Globally, consumers ‘increase in digital payments boosts the amount of data deposited with banks for each transaction. Therefore, big-data analytics opportunities are increasing. In the banking sector the introduction of data lakes breaks down the number of silos. The storing of data in a centrally controlled network such as Apache Hadoop’s data lake architecture helps to reduce the number of information silos in an enterprise and makes data available to users across the business.
The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter’s five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global data lake market have been studied in detail.
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The data lakes market has taken off in a tremendous manner. Cloud-based data lakes dominate most of that development and are rapidly capturing market share from relational databases when it comes to data storage for research. For BI platforms and tools all of this has a major knock-on impact. They must adapt quickly, become smarter and more powerful to handle huge volumes of data from data lakes and other sources, as well as increasing demand for self-service tools that make data and insights available to non-technical users throughout the business.
Smart Data Discovery or Augmented Analytics are an important trend emerging currently. It is focused on artificial intelligence and machine learning to automate many of the processes involved in monitoring, planning for analysis, and gaining insights from data lakes. Moreover, as data analytics and business intelligence are becoming increasingly relevant to teams and departments in the enterprise, specialized tools, products, data models and sources will be needed to meet their needs. A wide range of ad hoc requirements, especially those involving large, complex data streams, is a major factor for the rising popularity of cloud data lake market . It also makes it important for BI systems to have fast and efficient ways to process the data-for example, by using in-memory columnar technology to ease storage constraints while scanning and retrieving data sets.
The global data lake market was dominated by North America. The dominance of this region is a result of the early adoption rate of data lake among industry verticals such as BFSI, healthcare, and energy and utility. The other factor which has led to the North America generating the largest revenue in 2018, is the presence of major data lake providers in the U.S.
The global data lake market is fragmented with the presence of many global and regional players. These include Microsoft, Teradata, Oracle, Cloudera, AWS, IBM, Informatica, SAS Institute, Zaloni, Koverse, HPE, Cazena, Google, Infoworks.io, Snowflake, and Dremio among others.
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Key Segments of the Global Data Lake Market
Offering Overview, 2015-2025 (USD Million)
Organization Size Overview, 2015-2025 (USD Million)
- Small and Medium Enterprises
- Large Enterprise
Deployment Overview, 2015-2025 (USD Million)
- On Premise
- On Cloud
End-users Overview, 2015-2025 (USD Million)
- Media and Entertainment
- Retail and Ecommerce
- Government and Defence
Regional Overview, 2015-2025 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Central and South America
- Rest of Central and South America
- Middle East & Africa
Major Points from Table of Contents:
- Research Methodology
- Market Outlook
- Data Lake Market by Offering, 2015-2025 (USD Million)
- Data Lake Market by Organization Size, 2015-2025 (USD Million)
- Data Lake Market by Deployment, 2015-2025 (USD Million)
- Data Lake Market by End-user, 2015-2025 (USD Million)
- Data Lake Market by Region 2015-2025 (USD Million)
- Competitive Landscape
- Company Profiles
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