Global Data Lakes Market to Register 28.3% CAGR through 2021, Informs M&M in Its Insightful Report Now Published at MarketPublishers.com30 Sep 2016 • by Natalie Aster
LONDON – At present, the global market for data lakes stands at about USD 2.53 billion, and is predicted to reach a value of USD 8.81 billion by the year 2021, witnessing a 28.3% CAGR in the next 5 years. Nowadays, the world’s data lakes market is following an upward trend owing to the ongoing shift from traditional techniques of data management and storage to modern advanced storage techniques together with rapidly increasing amount of unstructured and structured business data.
Retail and e-commerce, manufacturing, BFSI, telecommunication and IT, energy and utilities, media and entertainment, transportation and logistics, healthcare and life sciences, government and defense are amid the major end-use verticals for data lakes solutions. The healthcare and life science industry is set to grow at the highest CAGR through 2021, mainly due to a strong demand for solutions to manage real-time data received from different healthcare activities.
While North America is likely to continue enjoying sustained growth and to maintain the leadership in the global data lakes market in terms of revenues, APAC is expected to exhibit the highest growth rates due to expanding adoption of smart technologies and IoT along with favourable government initiatives.
The cutting-edge MarketsandMarkets’ topical research report “Data Lakes Market by Software, Business Functions, Service, Deployment, Organization Size, Vertical & Region - Global Forecast to 2021” is a comprehensive source of valuable information on the current scenario in the global market for data lakes. The report provides basic definitions, descriptions and includes a detailed market assessment on the basis of organization size, software, business functions, service, deployment models, industry verticals and regions. Moreover, the research publication highlights the present competitive environment in the market and profiles the major market participants. It examines the market dynamics, including top market growth drivers, challenges and restraints, and identifies the major market prospects, trends and opportunities. In addition, mergers and acquisitions, new product developments and launches, the recent research and development projects and other activities in the data lakes market are reviewed in the report. Future forecasts through 2021 are available as well.
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