Data Lake Market Stood at US$8382.3 Mn 2021 and is Expected to Reach US$18677.4 Mn by 2026

1
Cutting-Edge Innovations and Data Security
Quotient Impels Perpetual Growth Across the
Global Data Lake Market Over the forecast period
of 2021 to 2026, the data lakes market is
expected to reach the valuation of US18.6 Bn by
2026 elevated from US5.1 Bn in 2018, exhibiting
a robust 15.5 CAGR. The recent shifts from
mainframe and legacy systems toward cloud-based
data platforms have made access to data easier.
To this end, the need to extract in-depth
insights from ever-growing volumes of data has
become crucial to an organizations success. This
necessitates the need to incorporate data lake
solutions across the verticals of the
industry. Get a Sample Copy of Data Lake
Market https//www.fairfieldmarketresearch.com/re
port/data-lake-market/request-sample Unlike less
effective data warehouses, data lake offers
better data retrieval. Data lakes provides a
centralized repository for storing and processing
huge amounts of structured, semi structured, and
unstructured data. The growth of data lake
solutions is ascribed to operational efficacy,
improved flexibility, linear scalability, and
accommodation of data at high-speed capabilities.
Furthering the market expansion, the amplified
data generation as a result of growing adoption
of IoT-enabled devices has created positive
dynamics and lucrative opportunities for market
players operating in the data lakes niche. Major
companies are rapidly advancing towards the
development of innovative and advanced data lake
solutions, leading the market to momentous
growth. Technological Advancements Paves Way for
Increased Adoption of Data Lakes in Medium and
Large-Scale Enterprises To promote the data
security of organizations, various medium and
larger-scale enterprises are channeling funds to
incorporate the latest technologies such as IoT
and big data. Consequently, this thrusts the
demand for data lakes which offers versatility,
security, ease of data accessibility, and storage
of multi-structured data from different sources.
Additionally, it also overcomes the need for data
modeling at the time of assimilation.
Conventional transformation, standardization, and
blending of data curated from IoT device is an
expensive, slow, and lengthy process. However,
data lake offers flexibility, speed,
affordability, and security simplifies the
process. North America to Stay at Forefront
Regional Segment Asia Pacific Emerges as Growing
Market for Data Lake Solutions North America
holds a lion's share in the global data lakes
market and is anticipated to register growth at
14.4 by 2026. The major growth drivers for the
region include huge amounts of data across the
spectrum of industries, robust capital flows from
key players in data lake solutions, and growing
penetration of big data technology. To sustain
the leading position in
2
the market, organizations across the region are
beginning to generate insightful data with the
help of data lake solutions. The leading
companies are driving motivation from augmented
data generation via software such as Customer
Relationship Management (CRM), Enterprise
Resource Planning (ERP), etc. to optimistically
roll out new data lake solutions that serve the
diverse needs of organizations and their
customers. On the flipside, projections point out
that the Asia Pacific is likely to grow at a
promising pace over the coming years. Bolstering
investments by top companies in India, Australia,
Japan, and China, proliferating adoption of big
data analytics, and increased digitization are
expected to propel notable gains across the data
lake market in the APAC region. Moreover,
government initiatives and regulations, extensive
manufacturing facilities, and low-cost labor are
further fueling the expansion of the data lake
market. Major stakeholders steering the market
growth are Apple Inc., Google LLC, Microsoft
Corporation, Cisco Systems, AMAZON, Dell Inc.,
Infoworks.io, and IBM Corporation among
others For More Information of Data Lake Market
Visit https//www.fairfieldmarketresearch.com/rep
ort/data-lake-market About Us Fairfield Market
Research is a UK-based market research provider.
Fairfield offers a wide spectrum of services,
ranging from customized reports to consulting
solutions. With a strong European footprint,
Fairfield operates globally and helps businesses
navigate through business cycles, with quick
responses and multi-pronged approaches. The
company values an eye for insightful take on
global matters, ably backed by a team of
exceptionally experienced researchers. With a
strong repository of syndicated market research
reports that are continuously published updated
to ensure the ever-changing needs of customers
are met with absolute promptness. Contact Fairfiel
d Market Research London, UK UK 44 (0)20
30025888 USA (Toll-free) 1 (844) 3829746 Web
https//www.fairfieldmarketresearch.com/ Email
sales_at_fairfieldmarketresearch.com Follow Us
LinkedIn