Data Lake Market Expected to Reach USD 86.83 Billion in Value by 2032, CAGR Projected at 20.40%

The Data Lake Market is expected to grow at a CAGR of 20.40% from 2024 to 2032.
The global market was valued at USD 16.37 billion in 2023 and is expected to grow to USD 86.83 billion by 2032.

The expected rise in Internet of Things (IoT) device usage is expected to have a positive impact on the growth of the data lake industry. The market is anticipated to grow as a result of the increase in data volume and the growing use of IoT. Also, banks are seeing a profusion of transactional data due to the growth in digital payments. To improve their analytical skills and provide clients with seamless solutions, several financial institutions are investing resources in the creation of data lakes.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/industry-analysis/data-lake-market/request-for-sample

𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

Large amounts of data in their original format are ingested and stored in a centralized location called a data lake. After processing, the data can be used to support a range of analytical requirements. A data lake can hold any kind of data from any source, structured (excel sheets, database tables), semi-structured (XML files, webpages), or unstructured (pictures, audio files, tweets), all without compromising fidelity because of its open, scalable architecture.

Also, to enable diverse user types to access the data in different ways to suit their needs, the data files are usually stored in tiered zones: raw, cleaned, and curated. Big data analytics, machine learning, predictive analytics, and other applications rely on data lakes for basic data consistency across a range of applications.

𝐊𝐞𝐲 𝐒𝐭𝐚𝐭𝐬 𝐚𝐧𝐝 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬:

● The industry analysis is mainly based on vertical, deployment, type, and region.

● In 2022, North America held the largest market share. This dominance is ascribed to the escalating volume of data throughout various industries, increased investments in data lake infrastructure, and the rising adoption of big data technologies.

● Asia Pacific will expand gradually. This growth is mainly due to the increasing investments that leading technology companies have arranged throughout important emerging economies.

𝐁𝐮𝐲 𝐭𝐡𝐞 𝐋𝐚𝐭𝐞𝐬𝐭 𝐕𝐞𝐫𝐬𝐢𝐨𝐧 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐍𝐨𝐰: https://www.polarismarketresearch.com/buy/2836/2

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

Key players in the data lake market are concentrating on expanding their global existence through mergers, collaborations, new product launches, and acquisitions. Here is the list of key companies operating in the industry:

• Amazon Web Services, Inc
• Cloudera, Inc.
• Dremio Corporation
• Informatica Corporation
• Microsoft Corporation
• Oracle Corporation
• SAS Institute Inc.
• Snowflake Inc.
• Teradata Corporation
• Zaloni, Inc.

𝐃𝐚𝐭𝐚 𝐋𝐚𝐤𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

• Cloud-based deployments will grow at a rapid pace, owing to its cost-effectiveness, ease of use, and significant investments from innovative players.

• The healthcare segment expected to grow steady pace, on account of data sensitivity, and data privacy and huge opportunities in the concerned sector.

• Solutions segment held the largest share, primarily due to huge demand from different industry verticals.

• North America dominated the global market, on account of presence of key players, significant investments, and a favorable business scenario.

• APAC is projected to grow at the fastest rate, on account of huge business opportunities it offers, huge demand for mid-small companies, and huge un-tapped market potential.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐓𝐡𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭, 𝐡𝐞𝐫𝐞: https://www.polarismarketresearch.com/industry-analysis/data-lake-market

𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐇𝐚𝐬 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐞𝐝 𝐓𝐡𝐞 𝐃𝐚𝐭𝐚 𝐋𝐚𝐤𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐁𝐚𝐬𝐞𝐝 𝐎𝐧 𝐓𝐲𝐩𝐞, 𝐃𝐞𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭, 𝐀𝐧𝐝 𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥:

Data Lake, Vehicle Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Solution
• Services

Data Lake, Material Type Outlook (Revenue - USD Billion, 2019 - 2032)

• On-premise
• Cloud

Data Lake, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• IT
• BFSI
• Retail
• Healthcare
• Media and Entertainment
• Manufacturing
• Others (government, hospitality, education, others)

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐈𝐧𝐟𝐨:

Polaris Market Research
Phone: +1-929-297-9727
Email: sales@polarismarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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This release was published on openPR.