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Enterprise Data Lake Market Drivers Increasing Adoption of Data Lakes in Medium and Large Enterprises

HYDERABAD, TELANGANA, INDIA, November 10, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Enterprise Data Lake Market size was valued at $4.3 billion in 2020, and it is estimated to grow at a CAGR of 11.2% during 2021-2026. The growth is mainly attributed to the adoption of advanced technologies such as IoT, artificial, intelligence, big data analytics for enterprise resource planning applications and is poised to drive the enterprise data lake industry. Increasing investments on the development of advanced data lake solutions further boost the demand for enterprise data lake market. The market will be driven by new channel programs such as E-commerce and social media programs. Big Data is defined as the capture, storage and analysis of large and complex data sets which are generally difficult to be processed or handled traditionally. Data analytics and information flow has dominated enterprise management practices for several decades in which traditional analytic methods has been applied to support decision making. As the evolution of technology took place they have increasingly enabled enterprises to capture, manage and analyze the data. The advancement of technology and rapid increase in the consumer demand for immediate deliveries, the importance of enterprise data lakes will tend to grow in coming years. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Report/17931/enterprise-data-lake-market.html

Key takeaways:

1. North America dominated the Enterprise Data Lake market in terms of revenue in 2020 owing to the early adoption of advanced technologies and presence of major number of players.

2. 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.

3. 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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Segmental Analysis:

1. Software held the major share of 42.3% in 2020 owing to the introduction of various data software platforms by players such as Microsoft, Oracle, IBM and others.

2. North America dominated the Enterprise Data Lake market in 2020 with a market share of 36.5%, followed by Europe and APAC owing to the early adoption of advanced technologies.

3. Cloud sector is the fastest growing segment in Enterprise Data Lake market and estimated to grow at a CAGR of 12.1% during forecast period 2021-2026. Most of the vendors focus on offering cloud based data lake solutions in order to maximize profits and automate the equipment maintenance process effectively.

Competitive Landscape:

The top 5 players in the Enterprise Data Lake industry are -

1. Microsoft Corporation

2. SAP SE

3. Oracle Corporation

4. SAS Institute Inc

5. Informatica Corporation

Click on the following link to buy the Enterprise Data Lake Market Report:
https://www.industryarc.com/reports/request-quote?id=17931

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IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Data Lakes Market
https://www.industryarc.com/Research/Data-Lakes-Market-Research-500779

B. Big Data Enterprise Market
https://www.industryarc.com/Report/17941/big-data-enterprise-market.html

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