A large amount of data is being generated on digital information platforms on a daily basis. According to IBM, 2.5 quintillion bytes of data is generated every day. This explosive amount of data create the need for efficient data storage systems. Data lakes are storage systems which can store massive amount of data in its raw form. This unstructured data can further be used by data scientists and analysts for remodelling and transforming it into diversified data sets for further use.

Data lake also helps to enhance business agility as this storage model supports multiple distributions and workloads of varied sizes and types. This enables the data scientist to centralize massive data from various applications in the one logical storage pool. It can contain different types of data including files, audio, video, and databases.

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Data Lakes Market: Drivers and Restraints

One of the important drivers in the adoption of Data lakes is cost reduction. Data lakes directly ingests data in its original format rather than moving it into a purpose-built data store. The data contained in data lakes can be used for analysis and transformation there only, thus reducing the need and cost of another server for data transformation. Further, it solves the problem of big data. The information generated through Big Data is highly varied in nature. But data lake’s ability to store massive data in different forms tackles the problem. 

However, data lakes face some challenges which include slow on boarding and integration of data and high post boarding and maintenance cost. This is why many organizations are hesitant to adopt data lakes thus hampering the growth of data lakes market.

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Global Data Lakes Market: Market Segmentation

Global Data Lakes Market can be divided into two segments, based on deployment type and end-users.

Segmentation on basis of deployment type in Data Lakes market:

The segments in Data Lakes market by deployment type include:

• Cloud

• On premises

Segmentation on basis of end-users for Data Lakes Market:

The major segments of Data Lakes market on basis of end-users include:

• BFSI

• Government

• Healthcare

• Others

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Global Data Lakes Competitive Landscape

Some of the prominent players in the Data Lakes market include Atos SE, Capgemini SA, Dell EMC, Hitachi Data Systems, Informatica, Microsoft Corporation, Oracle Corporation, SAP SE and Teradata among others.