Global Data Lakes Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global data lakes market size reached US$ 9.5 Billion in 2022. Looking forward, the market is expected to reach US$ 37.8 Billion by 2028, exhibiting a growth rate (CAGR) of 25.88% during 2022-2028.

A data lake is a centralized software repository that stores structured and unstructured data from mobile apps, Internet of Things (IoT) devices, social media, and business applications. It provides a framework for machine learning (ML) and advanced real-time analytics, which includes dashboards, visualizations, big data processing, structured query language (SQL) queries, and full-text search, in a collaborative environment to uncover insights. Besides this, it can be integrated seamlessly with operational stores and data warehouses to enable diverse query capabilities and data science use-cases for discovering new information models.

Data Lakes Market Trends

Due to the global expansion of businesses and the integration of technologies into their core processes, organizations nowadays are facing innumerable challenges concerning the management of large amounts of digital data. This represents one of the key factors driving the need for data lakes to organize large volumes of diverse data from different sources in relatively less time. It also assists in identifying opportunities for fast business growth, attracting and retaining customers, boosting productivity, proactively maintaining devices, and making informed decisions. Apart from this, due to the growing prevalence of acute and chronic diseases, health agencies across the globe are increasingly investing in research and development (R&D) to meet global health needs. This is positively influencing the application of data lakes in the healthcare industry worldwide as they help design products and perform genomic research, resulting in faster performance and effective medication development. Moreover, data lakes can combine customer data from a customer relationship management (CRM) platform with social media analytics, thereby resulting in improving customer interactions and loyalty. As a result, it is gaining traction in the manufacturing units to reduce operational costs and increase product quality, which is anticipated to create a positive market outlook.

Key Market Segmentation

This research provides an analysis of the key trends in each sub-segment of the global data lakes market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on component, deployment mode, organization size, business function and end use industry.

Breakup by Component:

• Solutions
• Data Discovery
• Data Integration and Management
• Data Lake Analytics
• Data Visualization
• Services
• Managed Services
• Professional Services

Breakup by Deployment Mode:

• On-premises
• Cloud-based

Breakup by Organization Size:

• Small and Medium-sized Enterprises
• Large Enterprises

Breakup by Business Function:

• Marketing
• Sales
• Operations
• Finance
• Human Resources

Breakup by End Use Industry:

• BFSI
• IT and Telecom
• Retail and E-Commerce
• Healthcare and Life Sciences
• Manufacturing
• Energy and Utilities
• Media and Entertainment
• Government

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Latin America
• Brazil
• Mexico
• Middle East and Africa

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players being Amazon Web Services Inc. (Amazon.com Inc), Atos SE, Capgemini, Cloudera Inc., Dell Technologies Inc., Google LLC (Alphabet Inc.), Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Snowflake Inc., Tata Consultancy Services Limited and Teradata Corporation.

Key Questions Answered in This Report:

• How has the global data lakes market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global data lakes market?
• What are the key regional markets?
• What is the breakup of the market based on the component?
• What is the breakup of the market based on the deployment mode?
• What is the breakup of the market based on the organization size?
• What is the breakup of the market based on the business function?
• What is the breakup of the market based on the end use industry?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global data lakes market and who are the key players?
• What is the degree of competition in the industry?