Data Lakes Market by Software (Data Discovery, Data Integration, Data Lakes Analytics, Data Visualization), Business Functions (Marketing, Sales, Operations, Finance, HR), Service, Deployment, Organization Size, Vertical & Region - Global Forecast to 2021
“Massive surge in structured and unstructured business data is driving the growth”
MarketsandMarkets estimates the global data lakes market tgrow from USD 2.53 billion in 2016 tUSD 8.81 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 28.3%. The data lakes market is growing rapidly because of the transition from traditional techniques of data storage and management such as data warehouse tadvanced storage techniques and the massive surge of structured and unstructured business data.
“Marketing business function thave the largest market size in 2016”
Organizations across industry verticals are using various marketing tools and systems from online advertising bid management, web technology, marketing automation, tCRM. Smarketing departments face challenges such as integration of these technologies for taking the value out of all these data sets. Data lakes help them resolving these issues. Smarketing is estimated thave the largest market share in 2016 among all business functions.
“Healthcare & life sciences vertical thave the highest growth rate during the forecast period”
Data lakes solutions have been deployed across various industry verticals, including BFSI, telecommunication & IT, retail & e-commerce, manufacturing, healthcare & life sciences, energy & utilities, transportation & logistics, media & entertainment, government & defense, and others. Healthcare & life sciences industry vertical is expected twitness the highest CAGR during the forecast period because of the increasing need for managing real-time data coming from various healthcare activities including patient’s sleep analysis, calories burnt based on physical activities conducted, and son.
“North America is expected thold the largest market share”
North America, followed by Europe, is expected tcontinue being the largest revenue generating region for the data lakes vendors for the next five years. This is mainly due tthe presence of various developed economies such as Canada and the U.S. and because of the high focus on innovations through research and development and technology across industry verticals. APAC is expected tbe the highest growing region in the data lakes market because of the increasing adoption of IoT and smart technologies, and government initiatives such as smart cities in APAC countries including China and India.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the data lakes marketplace.
By Company type – Tier 1- 25%, Tier 2- 40%, Tier 3- 35%
By Designation – C-Level – 50%, Director Level- 35%. Others- 15%
By Region – North America- 42%, Europe-36%, APAC- 22%
Objectives of the Study
Tdefine, describe, and forecast the data lakes market on the basis of software, service, business functions, deployment models, organization size, industry verticals, and regions
Tprovide a detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
Tstrategically analyze subsegments with respect tindividual growth trends, future prospects, and contribution tthe total market
Tanalyze the opportunities in the market for stakeholders and tprovide the details of a competitive landscape for major players
Tforecast the revenue of market segments with respect tall the major regions, namely, North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and Latin America
Tstrategically profile key players and comprehensively analyze their recent developments and positioning
Tanalyze competitive developments such as mergers and acquisitions, new product developments, and Research and Development (R&D) activities in the market
The target audiences of the data lakes market report are
National regulatory authorities
Private equity groups
Equity research firms
“The study answers several questions for the stakeholders, primarily which market segments tfocus in the next twtfive years for prioritizing the efforts and investments”.
Scope of the Report
The research report categorizes the data lakes market tforecast the revenues and analyze the trends in each of the following sub-segments:
Data Integration and Management
Data Lakes Analytics
Data Lakes Services
System Integration and Deployment
Support and Maintenance
By Business Function
By Deployment Model
By Deployment Model
Small and Medium Enterprises (SMEs)
By Industry Vertical
Telecommunication & IT
Retail & ecommerce
Healthcare & Life Sciences
Energy & Utilities
Media & Entertainment
Middle East and Africa (MEA)