Press release
Data Lakes Market Report Helps To Predict Investment In An Emerging Market For The Forecast Period 2027
The Data Lakes Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Data Lakes market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Data Lakes market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Data Lakes market.The Data Lakes Market was valued at USD 3.74 billion in 2020 and is expected to reach USD 17.60 billion by 2026, at a CAGR of 29.9% over the forecast period 2021 - 2026.
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Top Leading Companies of Data Lakes Market are - Microsoft Corporation, Amazon.com Inc., Capgemini SE, Oracle Corporation, Teradata Corporation, SAP SE, IBM Corporation, Solix Technologies Inc., Informatica Corporation, Dell EMC, Snowflake Computing Inc., Hitachi Data Systems and others.
Industry News and Updates:
- April 2019 - Temenos, the banking software company launched Temenos Data Lake and is first to market with a robust, productized data lake that integrates big data analytics into its banking software. Temenos Data Lake claims to deliver out-of-the-box data integration, preparation, and optimization to power AI-driven banking applications.
- January 2019 - Tata Consultancy Services, a global IT service, consulting, and business solutions organization, entered the market with its data lakes solutions for Business on AWS Marketplace. The newly launched software captures and manages all types of data in a central Hadoop repository.
Key Market Trends:
Banking Sector is Expected to Grow Significantly
- 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 banking operations which will allow the bank to shift from the typically used data warehouse architecture.
- Banks are investing in data engineers to provide more responsive data lakes to tackle consumer requirements and also 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
- 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 detecting discrepancies in the system. This has aided in achieving savings of 75% of the electricity due to theft.
Investigator Observers Strong Growth in Specific Regions:
- Europe Market (Germany, UK, France, Russia, Italy)
- Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
- South America Market (Brazil, Argentina, Colombia)
- North America Market (United States, Canada, Mexico)
- Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Data Lakes Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Data Lakes Market (%),2016 - 2026
- Data Lakes Market Share, By Brand
- Data Lakes Market Share, By Company
- Data Lakes Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Data Lakes Market Value Analysis & Forecast
- Promising Data Lakes Development by Major Companies
- Detailed Data Lakes Portfolio of the Major Companies
- Major Deals in the Data Lakes Market
- Major Companies Analysis
Browse Full Report at:
https://www.marketinsightsreports.com/reports/02082592278/data-lakes-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=namita
We Offer Customization on Report Based on Specific Client Requirement:
- Country Level analysis for any 5 countries of your choice.
- Competitive analysis of any 5 key market players.
- 40 analyst hours to cover any other data point.
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Irfan Tamboli (Head of Sales) - Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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