Data Lakes Market Share Will Hit US$ 37.8 Billion By 2028 | Growth With Recent Trends & Demand

IMARC Group, a leading market research company, has recently released a report titled “Data Lakes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global data lakes market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Data Lakes Market?

The global data lakes market size reached US$ 9.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 37.8 Billion by 2028, exhibiting a growth rate (CAGR) of 25.8% during 2023-2028.

What are Data Lakes?

Data lakes are centralized repositories designed to store, process, and secure large volumes of structured and unstructured data. Unlike traditional databases that require data to be structured and organized in a predefined schema before storage, data lakes can store raw data in its native format, including text, images, audio, and video. This flexibility allows for more agile and extensive data analysis, as data can be processed and structured as needed for various analytical tasks. Data lakes are particularly useful for big data and analytics, enabling organizations to easily scale and adapt to diverse data types and massive volumes of information. They facilitate advanced analytics, machine learning, and data discovery, providing a rich resource for insights and decision-making.

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What are the Growth Prospects and Trends in the Data Lakes Industry?

Advanced Analytics and Business Intelligence represents one of the key factors driving the growth of the market across the globe. The rising demand for advanced analytics and business intelligence tools necessitates a robust platform like data lakes, which handles diverse data sets required for deep analysis. The shift towards cloud-based services has facilitated the growth of cloud-based data lakes, offering scalable, cost-effective, and secure data storage solutions. The massive increase in data volume, variety, and velocity, commonly known as big data, has been a crucial driver. Organizations need efficient ways to store and analyze this data, and data lakes provide a scalable solution. IoT devices generate vast amounts of data. Data lakes allow organizations to store and analyze this data effectively, which derives actionable insights. The growing use of artificial intelligence (AI) and machine learning (ML) in business processes requires large datasets for training and model development. Data lakes provide the necessary infrastructure to store and process these datasets. There’s a trend towards data democratization, where data is made accessible to non-technical users. Data lakes support this by providing a single source of truth for all data. The demand for real-time data processing and analytics for timely decision-making drives the adoption of data lakes.

Who are the Key Players Operating in the Data Lakes Market?

The competitive landscape of the global data lakes market has also been examined along with the profiles of the key players.

Some of these key 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
• Teradata Corporation.

What is Included in Market Segmentation?

The report has categorized the market based on component, deployment mode, organization size, business function, end use industry and region.

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

Regional Analysis:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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Key Highlights of The Report:                                                   

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain Analysis
• 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.

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