The need for scalability is predicted to spur the expansion of the data lakes market 2020. The information & communication technology reports are created by Market Research Future, which highlights market options for expansion. A 28% CAGR is estimated to guide the market to income worth USD 14 billion in the forecast period.
The necessity to ensure high-speed data accommodation is estimated to motivate the data lakes market around the world. The rising usage of marketing data lakes is predicted further to provide opportunities for transformation in the forecast period. The uptick in the implementation of data lakes in the banking and financial services sector is expected to facilitate long term growth stability in the coming years.
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The segmental assessment of the data lakes market is segmented by component, business function, organization size, deployment, and vertical. On the basis of deployment, the data lakes market is divided into cloud and on-premise. The vertical based segmentation of the data lakes market comprises of media & entertainment, BFSI, healthcare, IT & telecommunication, manufacturing, energy & utilities, and others. Based on the regions, the data lakes market is segmented into North America, Europe, Asia Pacific, and the Rest of the regions. Based on the components, the data lakes market is divided into software and service. The service segment is further segmented into managed services & professional services. The professional services segment consists of system integration & deployment, data lakes services, and support & maintenance. The software segment is segmented further into data integration and management, data discovery, data visualization, and data lakes analytics. On the basis of business functions, the market is segmented into marketing, sales, operations, finance, and human resources. Based on the organization size, the data lakes market is bifurcated into SMEs and large enterprises.
Detailed Regional Analysis
The regional examination of Data Lakes Market encompasses regions North America, Europe, Asia Pacific, and Rest of the regions. The study observes that the North American region is likely to account for the principal share of the data lakes market. In contrast, the Asia Pacific regional market is showing potential to develop at the top rate for the period of the forecast. The development of data lakes market in the North American region is ascribed to the surging technological developments and amplified implementation of cloud-based technologies though an assortment of industry verticals n the coming period.
The balance in demand and supply in the market will prove as an encouraging growth factor in the forecast period. The market is projected to note a secure growth rate in the upcoming years. The market competitors are expected to play a key role in the development of the global market. The development of adequate sources of raw material is predicted to transform the market in the upcoming period further. The availability of strong government support and the presence of encouraging policies is expected to enliven the growth prospects in the approaching period. The incidence of options that can be favorably capitalized on is aiding the market players in improving their overall position in the market. The competition in the market is manageable, which is inducing the entry of new players in the global market. The upgrades in production methods are estimated to transform the potential of the market in the forecast period.
The central companies in the data lakes market are Informatica (U.S.), Teradata Corporation (U.S EMC Corporation (U.S.), Microsoft Corporation (U.S.), SAP SE (Germany), Zaloni (U.S.), Oracle Corporation (U.S.), Cloudera Inc. (U.S.), .), Capgemini (France), SAS Institute (U.S.), Hitachi (Japan) and ATOS SE (France) among others.
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