Data Lakes Market to Surge at a CAGR of 28.3% and Hit $8.81 Billion By 2021 According to New Research Report
Data Lakes Market To Grow at a Higer CAGR, This latest report is now added to RnRMarketResearch.com the forecast period for this report is from 2016 to 2021The report “Data Lakes Market by Software (Data Discovery, Data Integration, Data Lakes Analytics, Data Visualization), Business Functions (Marketing, Sales, Operations, Finance, HR), Service, Deployment, Organization Size, Vertical & Region – Global Forecast to 2021”, The data lakes market is projected to surge at a Compound Annual Growth Rate (CAGR) of 28.3%. by 2021. The market is projected to reach USD 8.81 Billion by 2021 from USD 2.53 Billion in 2016
A data lake is a storage platform that holds huge amount of data in its native format it is a method of storing data within a system that facilitates the collocation of data in variant schematics’ and structural forms The idea of data lake is to have a single store of all data in the enterprise ranging from raw data (which implies exact copy of source system data) to transformed data which is used for various tasks including reporting, visualization, analytics and machine learning.
In this report The data lakes market is segmented by software and services. The services segment is expected to grow at the highest CAGR during the forecast period, out of which data lakes services in the services segment is projected to witness the highest demand due to the growing need of data lake software solutions across organizations. The Benefits of Data Lakes are that the data storage can be in the form of structured data, semi-structured, unstructured or raw, it is designed for low cost storage , for the need of agility, It can be configured and reconfigured as per requirement.
Browse 65 market data Tables and 56 Figures spread through 141 Pages and in-depth TOC on “Data Lakes Market by Software (Data Discovery, Data Integration, Data Lakes Analytics, Data Visualization), Business Functions (Marketing, Sales, Operations, Finance, HR), Service, Deployment, Organization Size, Vertical & Region – Global Forecast to 2021” http://www.rnrmarketresearch.com/data-lakes-market-by-software-data-discovery-data-integration-data-lakes-analytics-data-visualization-business-functions-marketing-sales-operations-finance-hr-service-deployment-organization-size-ver-st-to-2021-market-report.html
Massive surge in structured and unstructured business data is driving the growth. The data lakes market is growing rapidly because of the transition from traditional techniques of data storage and management such as data warehouse to advanced storage techniques and the massive surge of structured and unstructured business data.
Organizations across industry verticals are using various marketing tools and systems from online advertising bid management, web technology, marketing automation, to CRM. So marketing departments face challenges such as integration of these technologies for taking the value out of all these data sets. Data lakes help them resolving these issues. So marketing is estimated to have the largest market share in 2016 among all business functions.
Data lakes solutions have been deployed across various industry verticals, including BFSI, telecommunication & IT, retail & e-commerce, manufacturing, healthcare & life sciences, energy & utilities, transportation & logistics, media & entertainment, government & defense, and others. Healthcare & life sciences industry vertical is expected to witness the highest CAGR during the forecast period because of the increasing need for managing real-time data coming from various healthcare activities including patient’s sleep analysis, calories burnt based on physical activities conducted, and so on. North America, followed by Europe, is expected to continue being the largest revenue generating region for the data lakes vendors for the next five years. This is mainly due to the presence of various developed economies such as Canada and the U.S. and because of the high focus on innovations through research and development and technology across industry verticals. APAC is expected to be the highest growing region in the data lakes market because of the increasing adoption of IoT and smart technologies, and government initiatives such as smart cities in APAC countries including China and India.
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Objectives of the Study
To define, describe, and forecast the data lakes market on the basis of software, service, business functions, deployment models, organization size, industry verticals, and regions.
To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).
To strategically analyze sub segments with respect to individual growth trends, future prospects, and contribution to the total market.
To analyze the opportunities in the market for stakeholders and to provide the details of a competitive landscape for major players.
To forecast the revenue of market segments with respect to all the major regions, namely, North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and Latin America.
To strategically profile key players and comprehensively analyze their recent developments and positioning.
To analyze competitive developments such as mergers and acquisitions, new product developments, and Research and Development (R&D) activities in the market.
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Major vendors that offer data lakes software and services globally are Microsoft Corporation (U.S.), Informatica Corporation (U.S.), Teradata (U.S.), Capgemini (France), EMC Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), Hitachi (Japan), Atos (France), and SAS Institute (U.S.). These vendors have adopted different types of organic and inorganic growth strategies such as new product launches, partnerships & collaborations, and mergers & acquisitions to expand their offerings in the data lakes market.
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