Data Lakes Market was valued at USD 11.14 billion in the current year and is expected to register a CAGR of 22.4%, reaching USD 37.76 billion in five years. A data lake is a central repository that stores large volumes of raw, structured, semi-structured, and unstructured data, making it a valuable asset for organizations seeking to extract valuable insights from their data.
The Data Lakes Market is fragmented with major players like Microsoft Corporation, Amazon.com Inc., Capgemini SE, Oracle Corporation, and Teradata Corporation. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
In October 2022, Capgemini announced that long-time client Panasonic Automotive Systems would get a data ecosystem. The new platform can help an organization improve at making decisions based on data and developing new ideas. This can lead to more efficient and reliable extraction.
In August 2022, Teradata announced VantageCloud Lake, Teradata's product built on a next-generation cloud-native architecture. Based on the deep history and Teradata expertise, VantageCloud Lake can bring the proven power of Teradata Vantage in the cloud, called VantageCloud Enterprise, to an offering that is born in the cloud and designed to be automatically elastic and leverage low-cost object store at its core, easy to use and scale.
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