Data Lake Market Likely to Reach Revenue Worth US$18.6 Bn by 2026 End, Says Fairfield Market Research

According to Fairfield Market Research, the Global Data Lake Market is Anticipated to Surge at a CAGR of 15.5% During the Forecast Years 2021-2026.

London, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Over the period of projection, 2021 – 2026, global data lake market is expected to display phenomenal growth, reaching the valuation of US$18.6 Bn. In 2021, the market reportedly attained the valuation of US$8.3 Bn, suggests a newly released report of Fairfield Market Research. The report provides a detailer growth analysis and forecast of data lake market during the stipulated tenure, covering key market dynamics, regional analysis, as well as competitive assessment.

Key Research Insights

  • Between 2021 and 2026, data lake market is all set for an impressive 15.5% CAGR
  • Greater emphasis of organizations worldwide on enhanced productivity, and the maximum operational efficacy will continue to create a continuous stream of opportunities for data lake market
  • Cloud-based deployment preferred, with an estimated CAGR of 18%
  • North America’s lead intact with an estimated CAGR of more than 14%

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Insights into Segmental Analysis

The analysis of data lake market based on end use reveals the primacy of BFSI sector as the banking and financial sector continues to register the maximum consumption of data lake solutions and services. Growing employment of data lakes for secure, scalable, comprehensive, and cost-efficient solution to a host of financial services is likely to uphold the dominance of BFSI sector in data lake market. As the next-generation technologies like Artificial Intelligence (AI), and machine learning take the center stage in the world of FinTech, it becomes imperative to better comprehend the voluminous operational and transactional data. Besides financial institutions, and banks, a growing number of insurance companies have been looking at data lakes as a credible, one-point, scalable, secure, and reliable data storage and management solution. This largely influences the primacy of BFSI segment in global data lake market.

On the other hand, with greater scalability, cloud remains the most preferred deployment mode in data lake market. The report has estimated a significant CAGR of 18.7% for cloud segment between the years of forecast. Cloud deployment brings down the capital expenses in both software and hardware. In addition, it possesses the capability of unlimited storage of unstructured and structured data on a unified platform, which further heightens the prospects of cloud-based deployment in global data lake market. With growing preference of brands for pay as per use model, demand for cloud-based deployment will continue to climb up. Industry behemoths like Google, Microsoft, and Amazon are pioneering this trend, in turn benefiting the performance of data lake market, marks the report.

Key Report Highlights

  • Ability of data lakes to ingest massive volumes of structured and unstructured data will remain the key growth enabler for data lake market through 2027. Affordability, and ability of effectively processing real-time data further keep the market buoyant
  • A growing number of organizations are eying the massive potential of data lakes to derive valued insights to arrive at the vital business decisions faster
  • Advanced data lakes are foraying into the market in the wake of a surging wave of demand from data analysts, data engineers, data scientists, and products managers

Insights into Regional Analysis

While North America represented the largest revenue share in global data lake market, the demonstrated 14.4% growth between 2021 and 2022. Data lake market in North America will retain the pace throughout the period of forecast. The market here benefits from rapid adoption of big data analytics. Unprecedented spread of connected technology in form of a wealth of medical devices, wearables, autonomous vehicles, and smart home appliances especially creates a massive information pool on the cloud. This will serve as one of the strongest push factors for North America’s data lake market. Moreover, strong presence of global industry leaders further heightens the growth prospects of data lake market in the region.

Key Players in Global Data Lake Market Space

IBM Corporation, Google LLC, Cisco Systems, Microsoft Corporation, Apple Inc., Dremio, Amazon, Cazena, Dell, Infoworks, Cazena.

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Report AttributesDetails
Base Year2020 
Forecast Year2021 – 2026
Market Size in 2021US$8.3 Bn
Estimated Market Size in 2026US$18.6 Bn
Key PlayersMicrosoft Corporation, Google LLC, Apple Inc., IBM Corporation, Cisco Systems, Amazon, Dell, Cazena, Infoworks, Dremio

Market Segmentation

Offerings Coverage

  • Solution
  • Services

Organisation Size Coverage

  • Small and Medium Enterprises
  • Large Enterprise

End-Use Coverage

  • Media and Entertainment
  • Healthcare
  • BFSI
  • Manufacturing
  • Retail and Ecommerce
  • Government and Defence
  • Others

Deployment Coverage

  • On Premise
  • On Cloud

Geographical Coverage

  • North America
  • Europe
  • Latin America
  • Middle East & Africa
  • Asia Pacific

Leading Companies

  • Microsoft Corporation
  • Google LLC
  • Apple Inc.
  • IBM Corporation
  • Cisco Systems
  • Dell Inc.
  • Cazena Inc
  • Dremio

Report Inclusions

  • Market Estimates and Forecast
  • Market Dynamics
  • Industry Trends
  • Competition Landscape
  • Offering-wise Analysis
  • Organization Size-wise Analysis
  • Deployment-wise Analysis
  • End Use-wise Analysis
  • Region-wise Analysis
  • Country-wise Analysis
  • Key Trends Analysis
  • COVID-19 Impact Analysis

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.


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