Enterprise Data Lake market size was valued at $3.86 billion in 2019, and it is estimated to grow at a CAGR of 11.49% during 2020-2025. The growth is mainly attributed to the adoption of advanced technologies such as IoT, artificial, intelligence, big data analytics for enterprise resource planning application is poised to drive the enterprise data lake industry. Increasing investments on development of advanced data lake solutions further boost the demand for enterprise data lake market.
North America dominated the Enterprise Data Lake market in term of revenue in 2019 owing to the early adoption of advanced technologies and presence of major number of players.
Adoption of IoT technology has been pushing the Enterprise Data Lake industry with as connected sensors generate huge data which requires data lakes.
Deployment of cloud based data lake solution owing to its increased data security and cost efficiency enhancing the market growth.
High initial investment and deployment of on premise enterprise data-lake is a major challenge for data security which hampers the market growth.
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Geography- Segment Analysis
North America dominated the Enterprise Data Lake market in 2019 with a market share of 34.96%, followed by Europe and APAC owing to the early adoption of advanced technologies. Additionally, the presence of majority of Enterprise Data Lake vendors such as Microsoft Corporation, Oracle Corporation, and IBM Corporation are headquartered at U.S. and this increases the market growth.
Drivers –Enterprise Data Lake Market :
Increasing adoption of data lakes in medium and large enterprises
Advancements in Technology
Market Landscape : Enterprise Data Lake top 10 companies include Microsoft Corporation, SAP SE, Oracle Corporation, SAS Institute Inc, Informatica Corporation, Cloudwick Inc, Snowflake Computing Inc, Zaloni Inc, Podium Data Inc, IBM Corporation and others.
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