Data Lake Storage Market Scope
A data lake storage system is a centralized repository for storing large volumes of raw, unstructured, and structured data in its native format. Unlike traditional data warehouses, which are designed for specific queries and analysis, data lakes prioritize flexibility and scalability, allowing for the exploration and discovery of insights from diverse data sources. This makes them ideal for handling the ever-growing variety and volume of data generated in today's digital world.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Microsoft (United States), IBM (United States), Amazon Web Services (United States), Oracle (United States), Google (United States), Cloudera (United States), Cazena (United States), Infoworks.io (United States), AWS (United States), Informatica (United States), SAS Institute (United States), Zaloni (United States), Koverse (United States), HPE (United States), Snowflake (United States) and Dremio (United States) |
CAGR | % |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market shortly. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Data Lake Storage market throughout the predicted period.
Microsoft (United States), IBM (United States), Amazon Web Services (United States), Oracle (United States), Google (United States), Cloudera (United States), Cazena (United States), Infoworks.io (United States), AWS (United States), Informatica (United States), SAS Institute (United States), Zaloni (United States), Koverse (United States), HPE (United States), Snowflake (United States) and Dremio (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Data Lake Storage market by Type and Region with country level break-up.
On the basis of geography, the market of Data Lake Storage has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In October 2023, Snowflake, a leading cloud data warehousing company, acquired Iguazio, a provider of data lake management software. This acquisition strengthens Snowflake's data lake offerings and enables seamless integration between data lakes and data warehouses.
In November 2023, Google Cloud Platform (GCP) launched BigLake AI, a managed AI platform specifically designed for data lakes. BigLake AI enables developers to build and deploy AI models directly on their data lakes, eliminating the need for data movement and simplifying the AI development process.
“U.S. Department of Defense's JEDI cloud's founding principle is "single source of cloud infrastructure facilitating data pooling." This architecture's underlying assumption is to potentially move data originating from various sources from one country to the country where the cloud data lake is hosted to provide the capability required to build the operational parameters examples above. However, the data localization regulations will now restrict what data can move from the operational data stored locally to these large enterprises' central data lakes.”
Influencing Trend:
Introduction of Dataset Versioning and Data Integration Features in the Data Lake Storage Services
Market Growth Drivers:
Adoption of IoT Devices, Rapid Growth of Advanced Analytics Technologies and The rise in the Number of Digital Payments with Growing Raw Data of Companies
Challenges:
Technological Errors Associated with Data Extraction and Data Cleaning in Data Lake Storage
Restraints:
Data Swamps Can Be Create Due to a Lack of Monitoring Over the Items Kept Can Resist the Data Lake Storage Market and Slow Boarding and Data Integration on Data Lakes can Hinder the growth of the Data Lake Storage Market
Opportunities:
The rising Banking Sector will Create Opportunities for the Data Lake Storage and Growing Development of Smart Cities and the Implementation of Intelligent Utility Meters will Boost the Data Lake Storage
Key Target Audience
Data Lake Storage Providers, Data Lake Storage Distributors and Suppliers, Data Lake Storage International Traders, Research and Development Institutes, Financial Institutes and Investors, Regulatory Bodies and Others