Data Lakes Market Insights :

The Global Data Lakes Market share is anticipated to reach USD 21.82 billion by 2030, growing at a CAGR of 19.52% between 2020 and 2030

A storage facility known as a "data lake" houses enormous amounts of unprocessed data. In a data lake, expanded metadata tags and a unique identifier are applied to every data element. Data is fed from all source systems into a data lake, and no data is rejected. The phrase "data lake" is increasingly being used to refer to any sizable data pool where the data needs aren't established until the data is queried.

In contrast to data warehouses, data lakes can store all data, support all data kinds, and quickly respond to changes. These characteristics allow data lakes to deliver faster data insights. Data lakes offer a number of advantages, including scalability and the ability to handle high-speed data. It also provides advanced analytics by utilising deep learning algorithms and the abundance of coherent data, which aids in real-time decision analytics. Due to their growing need for data storage, data lakes are becoming more and more popular among businesses. Businesses have implemented a variety of solutions to address the expanding needs, including Hadoop-based big data platforms that can assist in the creation of effective data lakes and can store all company data.

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Regional Analysis :

During the projection period, North America is anticipated to grow significantly and have the highest market share. Due to the existence of numerous established key companies like Microsoft Corporation, Informatica, Teradata Corporation, EMC Corporation, and Oracle Corporation among others, the U.S. and Canada are predicted to lead the growth of the data lakes market in North America. Other factors influencing the growth of the data lakes market in the region include technological advancements and early adoption of data management systems.

Because of advances in IT and the growing use of internet of things applications in nations like China, Japan, and India in the region, the market for data lakes is anticipated to expand significantly between 2017 and 2023. whereas a sizable CAGR is anticipated for the European data lake market.

Market Segmentation :

To make the report more convenient to read and to make it easier to understand, the data lakes market may be divided into four major segments;

Data sources, Hadoop distribution, data intake, data query, and data stores are included in the segmentation by structure.

Data engineering, managed services, support & maintenance, and data discovery & visualisation are included in the segmentation by service.

Healthcare & life science, industrial, banking & finance, government, and media make up the segmentation by application.

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Key Players :

Some of the well-known companies profiled at the forefront of competition in the global data lakes market include Microsoft Corporation (U.S.), Informatica (U.S.), Teradata Corporation (U.S.), Capgemini (France), EMC Corporation (U.S.), Oracle Corporation (U.S.), Zaloni (U.S.), Cloudera Inc. (U.S.), SAS Institute (U.S.), SAP SE (Germany), Hitachi (Japan).

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