New York, United States, March 06, 2024 (GLOBE NEWSWIRE) -- The Global Data Lake Market Size is to Grow from USD 11.86 Billion in 2023 to USD 90.18 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 22.49% during the projected period.
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The data lake is a centralized storage warehouse that stores massive amounts of organized, semi-organized, and structured data. Data lake is storing well organized & economical way to analysis at a later time while also democratizing data. Every data element is assigned a unique identification labelled with a collection of metadata data. Data lakes provide organizational flexibility, and the data lake market is a rapidly increasing subsector of data management and analytics, allowing firms to easily store, manage, and analyse enormous amounts of data from multiple sources, resulting in more informed decision-making processes. Furthermore, the necessity for the advancement and artificial intelligence is the adoption of data lake. With increasing digitization and modernization around the globe, the amount of data expanding exponentially, and all of this data originates from sources such as social media, mobile devices, sensors, enterprise applications, etc. Also, the increasing volume and variety of data factors are significantly driving for growth of the global data lake market during the forecast period. However, Increased risk of data theft and misuse due to insufficient encryption and tokenization, which might potentially stifle the global data lake market. The shortage of trained personnel proficient in big data and analytics is impeding the market's growth.
Browse key industry insights spread across 200 pages with 115 Market data tables and figures & charts from the report on the "Global Data Lake Market Size, Share, and COVID-19 Impact Analysis, By Component (Solutions, Services), By Deployment Mode (Cloud, On-Premises), By Organization Size (Large Enterprises, Small Medium-Sized Enterprises (SMEs)), By Business Function (Human Resources, Finance, Operations, Sales, Marketing), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The solutions segment is anticipated to hold the greatest share of the global data lake market during the projected timeframe.
On the basis of component, the global data lake market is divided into solutions and services. Among these, the solutions segment is anticipated to hold the greatest share of the global data lake market during the projected timeframe. In the IT department, the data lake solution analyses both structured and unstructured data to extract crucial insights. Furthermore, some companies are implementing data solutions to improve and assess their internal processes.
The on-premises segment is anticipated to grow at the fastest pace in the global data lake market during the projected timeframe.
On the basis of deployment mode, the global data lake market is divided into cloud and on-premises. Among these, the on-premises segment is anticipated to grow at the fastest pace in the global data lake market during the projected timeframe. Companies favor on-premises deployment solutions for better control over data and infrastructure, especially in regulated industries such as finance and healthcare, which require compliance and security.
The large enterprises segment is predicted to grow at the highest pace in the global data lake market during the estimated period.
On the basis of organization size, the global data lake market is divided into large enterprises, and small & medium-sized enterprises (SMEs). Among these, the large enterprises segment is predicted to grow at the highest pace in the global data lake market during the estimated period. Service providers offer customized products and services for large enterprises, enhancing data storage, analytical capabilities, innovation management, and competitiveness in data-driven industries. Widespread acceptance boosts market expansion.
The marketing segment is predicted to grow at the highest pace in the global data lake market during the estimated period.
On the basis of business function, the global data lake market is divided into human resources, finance, operations, sales, and marketing. Among these, the marketing segment is predicted to grow at the highest pace in the global data lake market during the estimated period. Growth can be attributed to a rising emphasis on personalized medicine and patient-centered care, healthcare practitioners are incorporating protein treatments into their treatment protocols for a wide range of illnesses. Healthcare providers have a direct touch with a vast number of patients.
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North America is expected to hold the largest share of the global data lake market over the forecast period.
North America is expected to hold the largest share of the global data lake market over the forecast period. The region's growth is mainly driven by increased use of data technology and enterprise investment in the solution. Furthermore, the region contains a strong ecosystem of technological enterprises, which drives implementation. Many more organizations & businesses are headquartered in North America. Businesses are setting the standard for data-driven decision-making because they recognize the importance of data lakes in generating relevant insights.
Asia Pacific is predicted to grow at the fastest pace in the global data lake market during the projected timeframe. The growth can be attributed to the rising investment of major technology companies in countries such as India, China, and Japan.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global data lake market include Microsoft, Teradata, IBM Corporation, Informatica, Snowflake, Dremio, Zaloni, Oracle Corporation, SAS Institute Inc., Amazon Web Services Inc., Cloudera Inc., Teradata Corporation, Atos SE, Google LLC, EDB, Idera, Starburst, Others
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Recent Developments
- In December 2022, Atos announced the creation of a new solution together with AWS that enables clients to quickly and accurately monitor company key performance indicators (KPIs) by providing easy access to non-SAP and SAP data silos. "Atos' AWS data lake accelerator for SAP" is a unique solution that provides enterprise-wide and self-service reporting for major insights into daily changes that have a quick impact on decisions that drive the bottom line.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global data lake market based on the below-mentioned segments:
Global Data Lake Market, By Component
- Solutions
- Services
Global Data Lake Market, By Deployment Mode
- Cloud
- On-Premises
Global Data Lake Market, By Organization Size
- Large Enterprises
- Small Medium-Sized Enterprises (SMEs)
Global Data Lake Market, By Business Function
- Human Resources
- Finance
- Operations
- Sales
- Marketing
Global Data Lake Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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