Global Data Lakes market – A synopsis
The Data Lakes market study presents a compilation of market share, demand analysis, and future outlook associated with each segment as well as sub-segment. The key segments include, product type, end use, region, and relevant competitors. Important product-wise segments covered in the report contain product 1, product 2, product 3, and product 4, while important end uses include end use 1, end use 2, end use 3, and end use 4.
The global Data Lakes market is estimated to reach ~US$ xx Mn/Bn in 2019. With a CAGR of xx% throughout the historic period 2014-2019, the Data Lakes market is expected to grow at healthy CAGR of xx% over the foreseeable timeframe 2019-2029. In this research study, 2018 is considered as the base year.
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drivers and restraints influencing the global data lakes market. It also offers insight into factors impacting the market’s trajectory across various segments and regions.
Global Data Lakes Market: Key Trends
Data technology is much in demand due to various factors such as higher acceptance of Internet of Things (IoT), increased need for business agility and accessibility, and the increasing volume and variety of business data. In addition, switching from outdated data management techniques for storage to advanced techniques and huge flow of unstructured and structured data are positively impacting the market growth. On the contrary, companies operating in the industrial sectors have found that data lakes are inefficient to handle massive scale and complicated industrial data. In order to make quick, critical operational decisions, data lakes are unable to provide the real-time analysis and situational awareness that operators and engineers require, thereby limiting the market growth.
Based on type, services form the key contributor to the global data lakes market, and the segment is expected to grow during the said period. The demand for services is high due to increased requirement for data lake software solutions across organizations. Operations are anticipated to witness a growth in the applications segment because of the rising demand of IoT-enabled technologies. These technologies are mainly used for operations in manufacturing and IT organizations. On the basis of industry vertical, BFSI is projected to account for a large share in the market. Financial service institutes as well as several financial transactions in banks are managed by IT systems, invariably increasing the volume and variety of data, hence driving the growth of global data lakes market.
Global Data Lakes Market: Regional Analysis
The global data lakes market is segmented on the basis of geography into North America, Europe, the Middle East and Africa, Asia Pacific, and Latin America. Due to early adoption of data management systems and technological advancements, North America has emerged as the chief contributor to the revenue generated by the market for global data lakes, and it is predicted that this region will further grow in the forecast period. Another market that looks promising is Asia Pacific. High adoption of technology and huge opportunities mainly across industry verticals are driving the growth of the market.
Global Data Lakes Market: Key Players
The report profiles some of the prominent competitors functioning in the global data lakes market. It also offers insights into the threats and opportunities that the companies are expected to witness in the coming years. The global market for global data lakes is highly fragmented. Some of the key players are Microsoft Corporation, Capgemini, Informatica Corporation, Teradata, EMC Corporation, Oracle Corporation, SAP SE, Hitachi, Atos, and SAS Institute.
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The Data Lakes market research provides vital insights to the readers:
- Collaborations, R&D projects, acquisitions, and product launches of each Data Lakes market player.
- Impacts of the growth of relevant industries on the Data Lakes market.
- Drivers, restraints, opportunities and trends affecting the growth of the global Data Lakes market.
- Analysis of supply-demand ratio in each end use sector.
- Adoption trend and consumption behavior across various industries and consumers respectively.
The Data Lakes market research gets rid of the following queries:
- Which country in region currently holds the largest share?
- What techniques are the vendors implementing to overcome the challenges associated with the Data Lakes market?
- What is the present and future prospect of the global Data Lakes market by product?
- What are the effects of the Data Lakes on human health and environment?
- How many units of Data Lakes have been sold during the historic period 2014-2018?
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The global Data Lakes market research is a result of a comprehensive primary and secondary research performed by the analysts to extract the nuts and bolts of the Data Lakes market. Various service providers, implementation vendors and research in different departments of all gamut of companies were approached to provide a clear-cut picture of the market structure. Further, DROT analysis and Porter’s Five Forces analysis are used to offer the factors influencing the growth of the Data Lakes market.
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This post was originally published on Space Market Research