Data Lakes Market Size 2022-2027: Report, Share, Industry Trends and Opportunities

The global data lakes market reached a value of US$ 7.4 Billion in 2021.

SHERIDAN , WY, USA, December 5, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Data Lakes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global data lakes market reached a value of US$ 7.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 30.2 Billion by 2027, exhibiting at a CAGR of 26.4% during 2022-2027.

Data Lakes Market Overview:

A data lake represents a centralized repository that stores and processes multiple structured, semi-structured, and unstructured data in native formats. It operates as a single storage solution for excessive information and allows businesses to gain quick access to the data to generate analytics and extract valuable insights. Additionally, it is cost-effective, helps achieve a balance between speed and quality of information, and stores organizational data for subsequent processing and streamlining operations. This, in turn, assists in ensuring linear scalability, accommodating information, eliminating file silos, and offering optimal flexibility. Consequently, the data lake is utilized by end users in various big data applications, including analytics and predictive modeling.

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Data Lakes Market Trends:

The widespread adoption of data lakes across various industries, due to the increasing data volumes and escalating utilization of the Internet of things (IoT) with multiple connected devices, are primarily driving the market growth. Furthermore, the shifting consumer inclination toward data lakes over data warehouses, since it allows information to be retrieved at exceptional speed, is favoring the market growth. Additionally, the rising prevalence of several chronic diseases has facilitated the uptake of data lakes in the healthcare sector, which, in turn, is propelling the market growth. Such technologies enable practitioners to perform prescriptive analytics and formulate effective drugs or conduct genomic research. Besides this, rapid digitalization, favorable governmental initiatives to develop smart cities, and the escalating consumer awareness regarding various product benefits, including optimal agility and lower storage, labor, maintenance, and raw material expenses, are supporting the market growth.  

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Data Lakes Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

• 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
• Teradata Corporation.

Data Lakes Market Segmentation:

Breakup by Component:

• Solutions
• Data Discovery
• Data Integration and Management
• Data Lake Analytics
• Data Visualization
• Services
• Managed Services
• Professional Services

Breakup by Deployment Mode:

• On-premises
• Cloud-based

Breakup by Organization Size:

• Small and Medium-sized Enterprises
• Large Enterprises

Breakup by Business Function:

• Marketing
• Sales
• Operations
• Finance
• Human Resources

Breakup by End Use Industry:

• BFSI
• IT and Telecom
• Retail and E-Commerce
• Healthcare and Life Sciences
• Manufacturing
• Energy and Utilities
• Media and Entertainment
• Government
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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Key highlights of the report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• The Impact of COVID-19 on the Global Market
• Value Chain Analysis
• Structure of the Global Market
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

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.

Elena Anderson
IMARC Services Private Limited
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