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Data Lake Market Segmentation by Type (Software and Services); and by Industry Vertical (BFSI, Telecommunications & IT, Retail & Ecommerce, Healthcare, Manufacturing, Government, Energy & Utilities, and Others) – Global Demand Analysis and Opportunity Outlook 2021-2029

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Extensive insights into the Growth of Data Lake Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Data Lake Market Highlights 2020-2029

The Data Lake market is estimated to grow with a significant CAGR during the forecast period, i.e., 2021-2029. The increasing demand for repositories for storage of structured and unstructured data along with the need for data processing and analytics are expected to aid the growth of the market. The growth of the market can be attributed to the growing adoption of Internet of Things (IoT) which will proliferate data further. As per IBM, 2.5 Quintillion bytes of data are generated each day. In addition, owing to increase in the usage of smart meters, huge amount of data is being generated which needs the use of Data Lakes. In the United States, a total of 70,823,466 smart meters have been installed according to U.S Energy Information Administration.

Global-Data-Lake-Market

The market is segmented based on type into software, and services, out of which, the services segment is anticipated to grab the larger share by the end of 2021 on account of increasing adoption of data lake solutions in the BFSI & IT industry verticals. Moreover, the need for data processing and analytics of big data for IT operation is also projected to contribute to the growth of the segment during the forecast period. The market is further segmented into data discovery, data integration & management, data lake analytics, and data visualization for software and into managed and professional services for the services segment. CLICK TO DOWNLOAD SAMPLE REPORT

On the basis of industry vertical, the Telecommunications & IT segment in the global data lake market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that data lakes aid in the storage as well as the analysis of data which can aid in developing data insights, identify trends, optimize performance and manage organizational data architecture.

Data Lake Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increasing amount of data and the need to develop solutions to store and analyse the same by major technology companies in the region. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the presence of major companies in the region and their rising data volumes across industry verticals. Along with this, the North America also leads in terms of investments and adoption of big data technologies, which is also expected to contribute to the market growth in the region. Alternatively, the market in Europe is also anticipated to occupy a significant share in the data lake market on account of new regulations for data privacy that require enterprises to remove customer data upon request.

Data-Lake-Market-Share

The global data lake market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global data lake market includes the following segments:

By Type

  • Software
    • Data discovery
    • Data integration & management
    • Data lake analytics
    • Data visualization
  • Services
    • Managed services
    • Professional services

By Industry Vertical

  • BFSI
  • Telecommunications & IT
  • Retail & Ecommerce
  • Healthcare
  • Manufacturing
  • Government
  • Energy & Utilities
  • Others

Growth Drivers

  • Increasing amount of raw data produced on a daily basis
  • Increasing demand for big-data analytics

 Challenges

  • High cost of boarding and upkeep
  • Requires high levels of skill

Top Featured Companies Dominating the Market

  •  Microsoft Corporation
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Informatica Corporation
  • Teradata
  • Capgemini
  • IBM
  • Apple Inc.
  • EMC Corporation
  • Oracle Corporation
  • Atos
  • SAS Institute

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