Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 18.73 Billion | USD 130.54 Billion | 24.08% | 2023 |
FrequentlyAsked Questions
Cost saving is one of the main factors in the implementation of Data Lakes. Instead of transferring it into a purpose-built data store, Data Lakes explicitly ingests data in its initial format. It is only there that the data stored in data lakes can be used for analysis and transformation, thereby minimising the need and expense of another data storage server.
The global Data Lakes Market is estimated its valued at USD 18.73 Billion in 2023, with projections indicating that it will reach USD 130.54 Billion by 2032.
The U.S. also plays a crucial role in growing the expansion of the global demand for data lakes in North America and European countries such as Germany. On the other hand, it is said that South America will dominate the global market for data lakes in the immediate future. Due to countries such as China and India that are embracing new technology, Asia Pacific is said to be the fastest growing network for the global market.
Some main participants of the Data Lakes market are Atos SE, Capgemini SA, Dell EMC, Hitachi Data Systems, Informatica, Microsoft Corporation, Oracle Corporation, SAP SE, Teradata, and Others among others.
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