openPR Logo
Press release

Data Lakes Market will be Valued at $14.01 Billion by 2023 (MICROSOFT, AMAZON.COM, CAPGEMINI SE, ORACLE, TERADATA CORPORATION, SAP SE, IBM CORPORATION, SOLIX TECHNOLOGIES)

09-17-2018 08:44 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Market Prognosis

Industry Highlights:
Global Data Lakes Market was valued at USD 3.24 billion in 2017, and is expected to reach a value of USD 14.01 billion by 2023 at a CAGR of 27.4%, over the forecast period (2018-2023). The scope of the report is limited to deployment type which include Cloud, On-premise. The End Users considered in the scope of the report include BFSI, Retail, Entertainment and Media, Healthcare, IT and Telecommunications and Manufacturing.

Detailed Sample Copy of Updated Analysis @ https://marketprognosis.com/sample-request/16597
Note: “If this link doesn’t work in Internet Explorer, kindly try copy pasting it in other browsers”.

Data Lakes have become an economical option for many companies rather than an option for data warehousing. Data warehousing involves additional computing of data before entering the warehouse, unlike Data Lakes. The cost of maintaining a data Lake is lower than maintaining a data Lake owing to the number of operations involved in building the database for warehouses. The speed of data retrieval is also better for data lakes compared to data warehouses which have proved them to be a viable option compared to warehouses. According to O’Reilly Data Scientist Salary Survey, it has been identified that about one-third of the data scientists spend time for doing basic operations such as basic extraction/transformation/load (ETL), data cleaning, and basic data exploration rather than true analytics or data modeling which reduces the efficiency of the process. The growing use of IoT in many offices and informal spaces has further emphasized in the need for data lakes for quicker and efficient manipulation of data.

Key Developments in Data Lakes Market
November 2017: Sciformix Corporation announced its adoption of Oracle Argus Enterprise Edition platform to offer its customers in the life science industry. Through its collaboration with Oracle, Sciformix can offer its customers a fully automated and integrated safety database solution, allowing easy reporting and analytics for improving the quality and efficiency of drug safety operations.

Major Players:
MICROSOFT CORPORATION, AMAZON.COM INC., CAPGEMINI SE, ORACLE CORPORATION, TERADATA CORPORATION, SAP SE, IBM CORPORATION, SOLIX TECHNOLOGIES INC., INFORMATICA CORPORATION, DELL EMC, ENTERPRISE DATA LAKES, HITACHI DATA SYSTEMS, and CAZENA INC, amongst others.

Request Discount on this repots @ https://marketprognosis.com/discount-request/16597
Note: “If this link doesn’t work in Internet Explorer, kindly try copy pasting it in other browsers”.

Need For Increasing Agility And Accessibility Of Businesses.
According to IBM most of the companies in the United States have about 100 Terabytes of data stored. Companies have been struggling to manage such data as increasing the storage capacity, and processing power of the existing systems involves in high cost and not a sustainable option. Data lakes have emerged as a practical solution to exponentially increasing data. The variety of data emerging in the present day scenario has been broader in range as many developments such as modern cars alone have about 100 sensors per car, NSE has nearly 1TB of trade information per session, according to IBM. Owing to such developments the use of data lakes aids in improving the agility of organizations such as analytics firms to retrieve, store and manage data in a better manner.

Banking Is Expected To Be One of the Primary Recipients of the Technology
Banks have been increasing the use of data lakes to integrate data across various domains to create a central database. Australia and New Zealand Banking Group (ANZ) has been implementing a project to aggregate all the data ponds across its domains to create a central data lake for the bank which will allow the bank to shift from the typically used data warehouse architecture. In the present scenario, the implementation of data lakes in the domain has not been effective as many data lakes have been changing into data swamps. Customers are unable to access data with ease, and data lakes have become the bottlenecks for organizations. Banks have been investing in data engineers to provide more responsive data lakes to tackle with consumer requirements. Banks have been trying to increase the utility of data for on the go solutions. State Bank of India (SBI) has been providing data lakes, apart from the typically used data warehouse, to bank executives, deputy managing director and chief information to deliver on the go analytics.

North America Is Expected To Have High Adoption for Data Lakes Market
According to Capgemini, more than 60% of the financial institutions in the United States believe that big data analytics offers a substantial competitive advantage over the competitors and more than 90% of the companies believe that the big data initiatives determine the chance for success in the future. Data Lakes are needed for the use of Smart meter applications. In Canada, BC Hydro uses an EMC data lake for analyzing data aggregated by various smart meters. The data then enables in detecting discrepancies in the system. This has aided in achieving savings of 75% of the electricity due to theft. The number of Smart Meters in the region have also been growing in usage. Owing to increase in the usage of smart meters a huge amount of data is being generated which needs the use of Data Lakes. In the United States, a total of 70,823,466 smart meters have been installed according to U.S Energy Information Administration.

Enquiry Before Buying @ https://marketprognosis.com/enquiry/16597
Note: “If this link doesn’t work in Internet Explorer, kindly try copy pasting it in other browsers”.

About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

Contact us:
ProgMark Pvt Ltd,
Thane - 421501
India.
Contact No: +1 973 241 5193
Email: sales@marketprognosis.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Data Lakes Market will be Valued at $14.01 Billion by 2023 (MICROSOFT, AMAZON.COM, CAPGEMINI SE, ORACLE, TERADATA CORPORATION, SAP SE, IBM CORPORATION, SOLIX TECHNOLOGIES) here

News-ID: 1243660 • Views: 1989

More Releases from Market Prognosis

Technological Advancement in Global Mobile Advertising Market Forecast to 2026 …
Global Mobile Advertising Market Report 2019 offers elaborated knowledge on the market parts like size, Key Regions, growth, trends, dominating firms, Major Manufactures. The Mobile Advertising report introduces market competition situation among the vendors, revenue, product & services, latest developments and business strategies. Overview of the Global Mobile Advertising Market: The Global Mobile Advertising Market is accounted for $30.98 Billion in 2017 and is expected to reach $214.75 Billion by 2026 growing
Mining Chemicals Market Analysis and Forecast Report 2019 - 2026 with Estimated …
Global Mining Chemicals Market research report 2019 - 2026 provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. Overview of the Global Mining Chemicals Market: The Global Mining Chemicals Market is accounted for $6.11 Billion in 2017 and is expected to reach $10.01 Billion by 2026 growing at a CAGR of 5.6%. Significant factors which are influencing the market
Implantable Biomaterials Market Covering Prime Factors and Competitive Outlook T …
This comprehensive Implantable Biomaterials Market research report 2019 – 2026 includes a brief on these trends that can help the businesses operating in the industry to understand the market and strategize for their business expansion accordingly. The research report analyzes the market size, industry share, growth, key segments, CAGR and key drivers. Overview of the Global Implantable Biomaterials Market: The Global Implantable Biomaterials Market is accounted for $96.11 Billion in 2017 and
Booming Growth in Global Semi-Trailer Market and Forecast to 2023 by Worldwide T …
The report covers a forecast and an analysis of the Semi-Trailer Market on a global and regional level. The study provides historical data for 2016, 2017, and 2018 along with a forecast from 2019 to 2023 based on revenue and volume. Overview of the Global Semi-Trailer Market: The report spread across 89 pages is an overview of the Global Semi-Trailer Market - Analysis of Growth, Trends and Forecasts (2018 - 2023). These

All 5 Releases


More Releases for Data

Weather Station Data Logger Collects Meteorological Data
Complete Weather monitoring using an Intelligent Universal Data Logger A construction company needed to collect meteorological data to study the effects of building materials such as roofing tile. CAS DataLoggers provided the dataTaker DT-85 for an environmental monitoring solution. Long-term monitoring of a variety of weather data is required to determine how the products perform under harsh environmental conditions. The field engineer desired a single recording device to connect with
How to turn Data into Smart Data
Both enterprises and individuals have to process some kind of data every day, whether it is a short message, a notification, a piece of news, statistics, a video, etc. If we accumulate all the data acquired in a month, the amount guarantees to shock anyone. Turning data into smart data As we go through the daily pile of data generated, not only must we record it, we also need to make sense
Data Quality and Data Governance Solution Market
In the enterprise data management ecosystem, data quality is a broad term which refers to the quality, integrity, and consistency of data and/or process etc. Data quality also implies the degree of data accuracy and consistency. On the other hand, data governance focusses on the management of data assets by assigning authority, control, and responsibility of data and encompasses three key areas: people, process, and technology. Data quality and data governance
B2B Data Matching Services | Leo Data Services
B2B Data Matching Services - Revolutionary Marketing Campaigns In today's business scenario, managing successfully B2B Data Matching for prospect customer can be a challenge even the most capable organizations. Business to Business Marketing services from Leo Data Services are always customized to meet the needs of the business prospects. We make sure that our clients have quick, reliable access to their data through several possible interface methods that cover everything from data
B2B Data Services - Data Management - Data Providers
When it comes to Online Marketing, B2B Data Services is a well-known name for maintaining reputation among Digital Marketing competitors. It is a one stop shop for start-ups and enterprises looking for cost cutting and out of box solutions in the field of Data Management and services related to Campaign Marketing, Mobile Viral Marketing, Social Media, Search Engine Optimization, Email Marketing Campaigns and Internet Marketing. Sharing space among the well-established
Portable WiFi Data Loggers Record Data Anywhere!
Grant Squirrel Series Offers Reliable Standalone Operation wifi_dataloggersIf you need a device to collect data in the field, in the lab, or on the factory floor, CAS DataLoggers can provide your application with Portable WiFi Data Loggers from Grant Instruments. Common parameters such as Temperature, Humidity, Voltage, Current, Pressure and Force can all be measured and stored using Grant Squirrel series data loggers. These handheld data loggers have internal batteries allowing them