According to a new report, published by KBV research, The Global Data Lake Market size is expected to reach $51.3 billion by 2030, rising at a market growth of 19.8% CAGR during the forecast period.
The Solution segment is leading the Global Data Lake Market, By Component in 2022; thereby, achieving a market value of $37.4 billion by 2030. This results from the increased use of data reservoirs in the information technology, BFSI, and retail industries. The data lake solutions aid the IT department in analyzing unstructured and structured data and extracting actionable insights. In addition, numerous businesses are implementing data solutions to improve and assess their internal processes.
The Small & Medium Enterprises segment is exhibiting a CAGR of 20.8% during (2023 - 2030). SMEs often have budget constraints, and data lakes can be a cost-effective solution. They enable the storage of large volumes of data without the need for expensive infrastructure investments, as cloud-based data lakes offer pay-as-you-go pricing models. Data lakes allow SMEs to store data in its raw, unprocessed form, without the need for predefined schemas.
The On-premise segment is generating the maximum revenue in the Global Data Lake Market, By Deployment Type in 2022; thereby, achieving a market value of $27.6 billion by 2030. On-premise deployment in the data lake market refers to setting up and managing a data lake infrastructure within an organization's physical data centers or private cloud infrastructure rather than relying on cloud-based data lake solutions provided by third-party cloud service providers. On-premise deployments allow for more granular control over data governance and access policies, ensuring compliance with internal and external regulations.
The BFSI segment is registering a CAGR of 20.9% during (2023 - 2030). Data lakes can segment customers based on their behavior and preferences, allowing banks to tailor marketing campaigns and product recommendations. Banks can use data lakes to aggregate and analyze data required for regulatory reporting, such as Basel III, Dodd-Frank, and GDPR, ensuring compliance with financial regulations. Data lakes empower BFSI organizations to extract actionable insights, improve decision-making, enhance customer experiences, and ensure regulatory compliance in a data-driven industry.
The North America region dominated the Global Data Lake Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $17.5 billion by 2030. The Europe region is poised to grow at a CAGR of 19.6% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 20.9% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/data-lake-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Amazon Web Services, Inc., Cloudera, Inc., Dremio Corporation, Informatica Inc., Microsoft Corporation, Oracle Corporation, SAS Institute Inc., Snowflake Inc., Teradata Corporation and Zaloni, Inc.
By Component
By Enterprise Size
By Deployment Type
By Vertical
By Geography
Companies Profiled
Unique Offerings 
