Data Lake Market

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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Report ID: 2911 | Published On: Oct 16, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


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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


Global-Data-Lake-Market
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Data-Lake-Market-Share
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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

Key Questions Answered in the Report

1) What are the major factors driving the growth of the data lake market?

Ans: Increasing amount of raw data produced on a daily basis and the demand for big-data analytics.

2) What would be the CAGR of data lake market over the forecast period?

Ans: The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021-2029.

3) What are the challenges affecting the data lake market growth?

Ans: High cost of boarding and upkeep, and the need for skilled personnel are estimated to hamper the growth of the market

4) Which region will provide more business opportunities for growth of data lake market in future?

Ans: High cost of boarding and upkeep, and the need for skilled personnel are estimated to hamper the growth of the market.

5) Who are the major players dominating the data lake market?

Ans: The major players dominating the data lake market are Microsoft Corporation, Informatica Corporation, Teradata, Capgemini, and IBM among others.

6) How are the company profiles selected?

Ans: The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the data lake market?

Ans: The market is segmented by type, industry vertical and region.

8) Which segment under the industry vertical segment captures the largest market size in the data lake market?

Ans: With respect to application, the telecommunications and IT segment is anticipated to hold the largest market share owing to large amount of data produced by the verticals and the need to store and analyse it.

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