Data Lakes Market Scope
A data lake is a centralized repository that holds a vast amount of raw data which can be structured as well as unstructured data at any scale. It uses a flat architecture to store data and run various types of analytics from dashboards and visualizations to big data processing, real-time analytics and machine learning to guide better decisions. As per IBM, 2.5 Quintillion bytes of data are generated each day. In addition, owing to increase in the usage of smart meters, huge amount of data is being generated which needs the use of Data Lakes. In the United States, a total of 70,823,466 smart meters have been installed according to U.S Energy Information Administration
According to AMA, the Global Data Lakes market is expected to see growth rate of 27.8% and may see market size of USD12.01 Billion by 2026.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Data Lakes market throughout the predicted period.
Microsoft Corporation (United States), Informatica Corporation (United States), Teradata (United States), Capgemini (France), IBM (United States), Apple Inc. (United States), EMC Corporation (United States), Oracle Corporation (United States), Atos (France) and SAS Institute (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are SAP SE (Germany), Hitachi (Japan), HCL (India) and Datalake Solutions (United States).
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 total available market.
Segmentation Overview
The study have segmented the market of Global Data Lakes market by Type (Software and Service) and Region with country level break-up.
On the basis of geography, the market of Data Lakes 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).
With the new European Regulation for data privacy coming into force in May 2018, enterprises need to quickly adopt a data strategy that is robust and scalable to meet the guidelines. A key requirement of GDPR is the deletion of customer data upon request.
Market Trend
- Rising Implementation of Cloud-Based Software and Services
Market Drivers
- Increasing adoption of Data lakes Due to Storing a Wide Variety of Data
- Growing Demand for Hosted Services from Small and Medium Business
Opportunities
- Surge in Trends Related to Big data, Cloud Computing and Telecommunication Sector Worldwide
- Constantly Growing Social Media.
Restraints
- Lack of Transformation from Draditional Data Storage and Analytics Techniques
- Lack of Long-Term Data Governance
- Derth of Data Privacy and Cyber Security Concerns
Challenges
- Lack of Proper Architecture of Data Lake and Raw Data is Stored with No Oversight of the Contents
Analyst View
"Numerous technology giants such as Google, Facebook, and Amazon among others are data-driven juggernauts that are taking over traditional businesses by leveraging huge data. An agile approach to data lake development can help companies launch analytics programs quickly and establish a data-friendly culture for the long term. Of late, the internet of things (IoT) and automation are continuously changing various sectors including manufacturing, transportation, healthcare and agriculture. From government and organisations in different verticals and educational institutions, and retail sector, data is being seen as a game-changer in the upcoming years."
Key Target Audience
Solution vendors, Venture capitalists, Private equity groups, System integrators, Advisory firms and National regulatory authorities