Global Data Lakes Market Study,Trend and Growth Analysis
Data lake is a process of storing data in various structural forms and schemata within a system. This method includes planned data from semi-structured, unstructured or even binary databases and creates a centralized data store by incorporating all types of data. A recently added report by DecisionDatabases.com anticipates the global data lakes market to witness a significant growth over the forecast period owing to the rising need for accessibility & agility in businesses, increasing adoption of IoT, and growing variety & volume of business data across the globe. In addition, growing preference for advanced storage techniques over traditional techniques of data management & storage of unstructured and structured business data will further aid in the growth of the market in the near future. However, lack of transformation from conventional analytics techniques & data storage and a shortage of long-term data governance method are major challenges, which can negatively impact the growth of the growth in the forthcoming years.
The report, “Global Data Lakes Market Research Report- Industry Analysis, Size, Share, Growth, Trends and Forecast ” provides market insights, facts, historical data, and future projections of the Data Lakes industry. This report provides information in terms of revenue and volume for the period 2015 to 2022. Drivers, restraints, and opportunities are intellectually assessed in the research report.
The global market has been segmented based on type into software and service, which are further sub-segmented. Service is a leading type segment and is anticipated to grow at a substantial rate during the forecast period on account of the increasing application scope for varied functions globally. The market has been further segmented based on business function into marketing, sales, operations, finance and human resources. Marketing is a major business function segment and is projected to witness a double-digit growth in the study period owing to the growing demand for integration across various verticals of marketing such as online advertising, web technology, marketing management and marketing automation customer relationship management. Furthermore, the market has been segmented based on deployment model, organization size, and industry vertical. Banking, Financial Services and Insurance (BFSI)
has accounted for major market share and is estimated to grow at an outstanding rate over the coming years on account of the rising deployment of data lakes solutions across numerous industry verticals in order to increase the need for administrating real-time data in no-time.
North America is a major market and is expected to continue its dominance over the coming years owing to rising innovations in research and development field and rapid technological advancements in the region. Asia Pacific is a fastest growing market and is anticipated to grow at an outstanding rate during the forecast period due to rising adoption of IoT and other smart technologies along with favorable government initiatives particularly in the China and India.
The key industry players include Microsoft Corporation, Teradata Corporation, Capgemini, EMC Corporation, Informatica, Oracle Corporation, SAP SE, ATOS, SAS Institute, and Hitachi Data Systems.
In March 2016, Informatica, a leading software provider has launched an Intelligent data lake solution to turn complex data into trusted data resources for faster and sustainable business value.
In June 2016, Koverse, Inc. has announced the release of the new big data platform “Koverse Platform Version 2.0”, to bring value out of their investments in analytics & big data.
In July 2016, Zaloni, the data lake company, has introduced a new solution, “Zaloni’s Data Lake 360°”, to meet the needs of a growing number of enterprises and to drive higher ROI from Big Data.
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