According to the latest report by IMARC Group, titled “Data Lakes Market: Global Industry, Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global data lakes market reached a value of US$ 9.5 Billion in 2022. Data lakes is a centralized software repository that is designed to store, process and secure large amounts of structured, semi-structured, and unstructured data in its native form. It includes raw copies of sensor data, social data and source system data. It provides a framework for advanced real-time analytics and machine learning (ML), such as big data processing, dashboards, structured query language (SQL) queries, visualizations, and full-text search, in a collaborative environment. Apart from this, data lakes enable the storage of relational and non-relational data from mobile apps, Internet of Things (IoT) devices, social media, and business applications.
Global Data Lakes Market Trends:
Significant growth in the banking, financial services and insurance (BFSI) industry across the globe is creating a positive outlook for the market. Data lakes are widely adopted to integrate data across various domains to create a central database and assist in high-speed data processing, scalability, and schema flexibility. Additionally, the widespread product adoption among various organizations and businesses to organize large volumes of diverse data from different sources in relatively less time is favoring the market growth. Apart from this, the increasing utilization of cloud-based data lake solutions due to their numerous advantages, such as cost-effectiveness, scalability, easy maintenance of the generated data, agility, flexibility, and effective management, is providing an impetus to the market growth. Moreover, the increasing product demand in the healthcare industry to perform genomic research, store high-volume data and help design products that result in faster performance and effective medication development is positively impacting the market growth. Other factors, including the widespread adoption of IoT-enabled devices, rapid digitization, and the implementation of various government initiatives promoting the development of smart cities, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ US$ 37.8 Billion by 2028, growing at a CAGR of 25.8% during 2023-2028.
- On the basis of the component, the market has been classified into solutions (data discovery, data integration and management, data lake analytics and data visualization) and services (managed services and professional services).
- Based on the deployment mode, the market has been bifurcated into on-premises and cloud-based.
- On the basis of the organization size, the market has been segmented into small and medium-sized, and large enterprises.
- Based on the business function, the market has been divided into marketing, sales, operation, finance, and human resources.
- On the basis of the end-use industry, the market has been classified into BFSI, IT and telecom, retail and e-commerce, healthcare and life sciences, manufacturing, energy and utilities, media and entertainment, government, and others.
- Based on region, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Amazon Web Services Inc. (Amazon.com Inc), Atos SE, Capgemini, Cloudera Inc., Dell Technologies Inc., Google LLC (Alphabet Inc.), Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Snowflake Inc., Tata Consultancy Services Limited and Teradata Corporation.
|Base Year of the Analysis
||Component, Deployment Mode, Organization Size, Business Function, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Amazon Web Services Inc. (Amazon.com Inc), Atos SE, Capgemini, Cloudera Inc., Dell Technologies Inc., Google LLC (Alphabet Inc.), Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Snowflake Inc., Tata Consultancy Services Limited and Teradata Corporation
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St Ste R
Sheridan, WY 82801 USA - Wyoming
Tel No:(D) +91 120 433 0800
Americas: - +1 631 791 1145 | Africa and Europe: - +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800