Data Lakes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Data Lakes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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 25.88% during 2022-2028.

A data lake is a centralized software repository that stores structured and unstructured data from mobile apps, Internet of Things (IoT) devices, social media, and business applications. It provides a framework for machine learning (ML) and advanced real-time analytics, which includes dashboards, visualizations, big data processing, structured query language (SQL) queries, and full-text search, in a collaborative environment to uncover insights. Besides this, it can be integrated seamlessly with operational stores and data warehouses to enable diverse query capabilities and data science use-cases for discovering new information models.

Data Lakes Market Trends:
Due to the global expansion of businesses and the integration of technologies into their core processes, organizations nowadays are facing innumerable challenges concerning the management of large amounts of digital data. This represents one of the key factors driving the need for data lakes to organize large volumes of diverse data from different sources in relatively less time. It also assists in identifying opportunities for fast business growth, attracting and retaining customers, boosting productivity, proactively maintaining devices, and making informed decisions. Apart from this, due to the growing prevalence of acute and chronic diseases, health agencies across the globe are increasingly investing in research and development (R&D) to meet global health needs. This is positively influencing the application of data lakes in the healthcare industry worldwide as they help design products and perform genomic research, resulting in faster performance and effective medication development. Moreover, data lakes can combine customer data from a customer relationship management (CRM) platform with social media analytics, thereby resulting in improving customer interactions and loyalty. As a result, it is gaining traction in the manufacturing units to reduce operational costs and increase product quality, which is anticipated to create a positive market outlook.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global data lakes market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, deployment mode, organization size, business function and end use industry.

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
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Teradata Corporation.

Key Questions Answered in This Report:
How has the global data lakes market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global data lakes market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the deployment mode?
What is the breakup of the market based on the organization size?
What is the breakup of the market based on the business function?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global data lakes market and who are the key players?
What is the degree of competition in the industry?