“Massive surge in structured and unstructured business data is driving the growth”
MarketsandMarkets estimates the global data lakes market to grow from USD 2.53 billion in 2016 to USD 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 to advanced storage techniques and the massive surge of structured and unstructured business data.
“Marketing business function to have 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, to CRM. So marketing 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. So marketing is estimated to have the largest market share in 2016 among all business functions.
“Healthcare & life sciences vertical to have 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 to witness 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 so on.
“North America is expected to hold the largest market share”
North America, followed by Europe, is expected to continue being the largest revenue generating region for the data lakes vendors for the next five years. This is mainly due to the 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 to be 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%
Scope of the Report
The research report categorizes the data lakes market to forecast the revenues and analyze the trends in each of the following sub-segments:
• Data Discovery
• Data Integration and Management
• Data Lakes Analytics
• Data Visualization
• Managed Services
• Professional Services
•Data Lakes Services
•System Integration and Deployment
•Support and Maintenance
By Business Function
• Human Resources
By Deployment Model
By Deployment Model
• Large Enterprises
• Small and Medium Enterprises (SMEs)
By Industry Vertical
• Telecommunication & IT
• Retail & ecommerce
• Healthcare & Life Sciences
• Energy & Utilities
• Media & Entertainment
• North America
• Middle East and Africa (MEA)
• Asia-Pacific (APAC)
• Latin America