The latest report on Data Lake Market by Infinium Global Research gives complete coverage of the Data Lake Market by in terms of key trends, market size, forecast and CAGR growth over the period of 2020 to 2026. In addition, the study covers deep dive into key product and applications trends in the regional markets of Data Lake such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
We are Now Including the Impact Analysis of the CO VID-19 on this Premium Report and the Forecast Period of this Report Shall be Revised to 2020-2026. The Section on the Impact of COVID-19 on this Market is Included in the Report for Free.
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A Large Amount of Data is Being Generated on Digital Information Platforms on A Regular Basis
The data lake is a repository of stored data and these data may be structured, semi-structured, or unstructured and raw. The requirement and structure of the data are not specified until it is needed. Data Lake also helps to improve business agility as this storage model supports multiple distributions and workloads of diverse sizes and types. This allows the data scientist to centralize massive data from numerous applications in the one logical storage pool. It can contain diverse types of data including files, video, audio, and databases.
A large amount of data is being generated on digital information platforms on a regular basis. According to IBM, 2.5 quintillion bytes of data are generated each day. This explosive amount of data creates a requirement for efficient data storage systems. One of the significant drivers in the adoption of data lakes is cost reduction. Data lakes directly consume data in its original format rather than moving it into a purpose-built data store. The data contained in data lakes can be utilized for analysis and transformation there only, thus decreasing the need and cost of another server for data transformation.
Additionally, it solves the problem of big data. The information generated through Big Data is extremely diverse in nature. However, data lake’s ability to store enormous data in different forms tackles the problem. On the other hand, data lakes face some challenges which include slow onboarding and amalgamation of data and high post boarding and maintenance cost due to which several organizations are hesitant to adopt data lakes. Thus, obstructing the growth of the data lake market. Additionally, the current concern over the spread of coronavirus is also expected to have a positive impact on the data lake market.
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Data Lake’s Ability to Store Enormous Data in Different Forms Tackles the Problem
Data consumption is projected to witness a substantial increase as a direct consequence of lockdowns enforced in several worldwide to combat the spread of the deadly coronavirus. As the COVID-19 pandemic sweeps the globe, big data and AI have emerged as a crucial tool for everything from diagnosis and epidemiology to therapeutic and vaccine development. For instance, Amazon Web Services has announced that it is making available a data lake for the COVID-19 analysis. The data lake includes metrics such as case tracking data from Johns Hopkins and the New York Times and over 45,000 COVID-19 research articles.
Geographically, North America generated the largest revenue in the data lake market in 2019 and is expected to continue its dominance over the forecast period. Further, the increasing usage of big data technology, growing amount of data across industry verticals, and rising investments by companies in data lake solutions are the major key factors responsible for the growth of the data lake market. Companies, especially in the United States, have started using data lake solutions to produce insightful information from structured and unstructured data and stay competitive in the global data lake market. Furthermore, the Asia Pacific region is projected to be the fastest-growing region for the global data lake market owing to countries such as China and India which are adopting the new technologies.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Data Lake.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2026.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.