Press release
Data Lakes Market 2018-2023 Forecast by Microsoft, Informatica, Teradata, Capgemini, EMC Corp., Oracle, Zaloni, Cloudera, SAS institute, SAP SE, Hitachi, ATOS
The global data lakes market is projected to reach USD 14 billion at a CAGR of over 28% by the end of the forecast period 2017-2023.
Some of the prominent players in the global data lakes market: 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) and ATOS SE (France) among others.
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Market Highlights
The global data lakes market is projected to witness a rapid growth during the forecast period owing to increasing emergence of cloud-based technologies and increasing adoption of internet of things. Moreover, increasing demand for the application of data lakes across various industry verticals such as BFSI, healthcare, manufacturing, retail and IT & telecommunications is driving the growth of the global market.
The global data lakes market by geography is segmented into North America, Europe, Asia Pacific, and Rest of the World. The North America market is expected to witness a significant growth and hold the largest share of the global market during the forecast period. The U.S and Canada are anticipated to drive the growth of data lakes market in North America region owing to the presence of large number of established key players such as Microsoft Corporation, Informatica, Teradata Corporation, EMC Corporation and Oracle Corporation in this region. Due to the sustainable and well-established economies in the region, the market is likely to show immense growth in the coming future. Additionally, North America also has a well-established infrastructure, which allows higher penetration of devices and ultimately provides better connectivity. The growth in the market is also attributed to increasing focus of business organizations towards digitization of business processes and growing adoption of data lakes by small and medium organizations. In the global data lakes market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the rise in IT technology and increasing adoption of internet of things applications across countries including China, Japan and India in the region.
Data Lakes Market Segmentation
The global data lakes market is segmented on the basis of component, business function, organization size, deployment and vertical. The organization size segment is classified small and medium enterprises and large enterprises. However, the large enterprises segment is expected to hold the largest market share of the data lakes market. Whereas, the small and medium enterprises segment is expected to grow at the highest rate across the globe over the forecast period. This is owing to the increasing demand for deployment of cloud based technologies from small and medium enterprises segment.
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Market Research Analysis
North America is estimated to account for the largest share of the market, whereas Europe market is projected to grow at the fastest rate during the forecast period. The North American market is witnessing a rapid growth due to technological advancements and increasing demand for CRM solutions across different industry verticals in this region. The U.S. holds the majority of market share both in terms of revenue as well as due to the early adoption of data management systems.
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