Data Lakes Market Highlights
Data lakes are centralized repositories designed to store, process, and secure large amounts of structured 1, semi-structured, and unstructured data. Unlike traditional data warehouses, which store data in a structured format using a schema, data lakes store data in its original native format, allowing for more flexibility and scalability in terms of data variety, volume, and velocity.
The global data lakes market growth is expected to cross USD 21.82 Billion by 2030 at a CAGR of 19.52% during the forecast period of 2020-2030.
Data lakes are centralized repositories designed to store, process, and secure large amounts of structured 1, semi-structured, and unstructured data. Unlike traditional data warehouses, which store data in a structured format using a schema, data lakes store data in its original native format, allowing for more flexibility and scalability in terms of data variety, volume, and velocity.
Data lakes are often used to store Big Data, which is characterized by the 3 Vs: volume (large amounts of data), velocity (high speed of data ingestion), and variety (diverse types of data from multiple sources). By storing data in a data lake, organizations can perform advanced analytics and machine learning on vast amounts of data, enabling them to gain insights and make informed decisions.
Data lakes can be implemented using a variety of technologies, including Hadoop Distributed File System (HDFS), Apache Spark, Amazon S3, Azure Data Lake Store, and Google Cloud Storage. To extract insights from the data stored in a data lake, organizations often use a combination of tools and technologies such as SQL-on-Hadoop, NoSQL databases, machine learning frameworks, and data visualization tools.
Overall, data lakes provide a powerful tool for organizations to store, process, and analyze large amounts of data in a flexible and scalable manner.
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Segmentation:
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.
Regional Analysis:
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.
Dominant Players
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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