San Francisco, California, October 17, 2018: A recent report by TMR Research, titled, “Data Lakes Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” finds that the market growth is mainly being brought by the growing need to make one’s organization nimble in a cutthroat space. Other factors serving to boost the market are the surging uptake of the Internet of Things (IoT), desire to leverage data for valuable insights, affordable and scalable storage, deluge of business data of different types, and instant access to data.
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Proving a challenge to the global data lakes market, on the other hand, is the data governance, meta-data management, and data security. Apart from that, dearth of sufficient awareness about the ever-evolving data storage and analytical methods is also proving to be a hurdle for the global data lakes market.
Depending upon type, the global data lakes market can be classified into services and software. Between the two, the segment of services contributes the most to the market. In the near term too, it is expected to continue doing so because of the rising requirement of data lakes software solutions in various organizations.
Depending upon applications again, the report classifies the global data lakes market into marketing and sales, operations, human resources, and finance. It states that operations are currently seeing most of the demand in the market because of the soaring uptake of IoT enabled technologies. Depending upon end use industry vertical, the BFSI segment generates considerable demand because most of the large multinational banks these days are digitized.
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Geographically, North America at present accounts for a leading share in the global data lakes market because of the early uptake of data management systems and technological progress.
Some of the key players in the global data lakes market are Capgemini, Microsoft Corporation, Capgemini, Teradata, Informatica Corporation, Teradata, and Oracle Corporation.