Cloud Based Lake Market Scope
A cloud data lake may be a cloud-hosted centralized repository that enables you to store all of your structured and unstructured information at any scale. Its placement within the cloud means that it may be interacted with as needed, whether it’s for process, analytics, or coverage. Cloud data lakes may be accustomed store an organization’s information, together with information generated from internal and external actions and interactions. the data journey is meant to take advantage of the separation of figure and storage, in order that every individual component will scale once necessary, without slowing down the opposite. Auto-scaling is that the key benefit of putting a data lake in the cloud.
The global market for the cloud-based lake is fragmented by global key players moving to the rising demand for cloud-based solutions for data management, access, and analysis. Players should focus on integrating different online tools and employment of automation for curating the information and make it available free for the data-driven company assessment to sustain high competition. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Cloud Based Lake market throughout the predicted period.
Microsoft (United States), Teradata (United States), Oracle (United States), IBM (United States), HPE (United States), Google (United States), Cloudera (United States), Amazon Web Service (United States), Atos (France), Temenos (Switzerland), Informatica (United States), SAS Institute (United States), Infoworks.io (United States) and TCS (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Zaloni (United States), Cazena (United States), Koverse (United States), Snowflake (United States) and Dremio (United States).
Segmentation Overview
The study have segmented the market of Global Cloud Based Lake market by Type (Native Cloud Data Lake and Multi-Cloud Data Lake) and Region with country level break-up.
On the basis of geography, the market of Cloud Based Lake 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). North America region held largest market share in the year 2021.
Influencing Trend:
Integration of Automation with Help of Artificial Intelligence and Machine Learning
Market Growth Drivers:
Rising Employment of Internet of Things in Different Applications and Digitization and Rising Demand for the Cloud-Based Data Lakes for Creation of Bigger and Central DataBase
Challenges:
Requirement of Skilled Personnel for Maintenance
Restraints:
Slow Onboarding and Data Integration on Data Lakes
Opportunities:
Rising Data-Driven Companies which provide Forecast and Business Sustainability with Help of Collected Data and Growth in Digital Payment Solutions by Consumers
Market Leaders and their Expansionary Development Strategies
In April 2022, Google, a global tech giant announced the launch of BigLake, a new cross-platform data lake storage engine. With this data lake, users will get access to one uniform storage engine as well as the ability to query the underlying data stores. This also allows organizations to easily analyze data in data warehouses and data lakes., and In March 2019, Cazena partnered with Clairvoyant to speed up projects and ensure successful outcomes as enterprises implement hybrid data architectures or move existing workloads to cloud providers AWS and Microsoft Azure.
In June 2022, Treeverse launched its LakeFS Cloud service that offers managed service to organizations with versioning capabilities for cloud data lakes. It is an open-source cloud data lake that allows users to store different types of data. Initially, the cloud will be available only on AWS and in the coming months it will also be available on Google and Microsoft Azure., and In 2019, Temenos, the banking software company launched Temenos Data Lake, a robust, productized data lake that integrates big data analytics into its banking software. Temenos Data Lake delivers next-level data integration, preparation, and optimization to power AI-driven banking applications.
Key Target Audience
Cloud Based Lake Provider, Software Developer, Research Institutes, End-User Industry and Others
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.