What is the projected growth of the data lakes market from 2023 to 2030?
The global data lakes market is expected to grow at a remarkable CAGR of 20.6% during the forecast period, reaching a significant size by 2030.
Who are the major players in the data lakes market?
Hortonworks, Google, Microsoft, Oracle, and Zaloni are some of the key players, with new entrants like Temenos and TCS emerging with innovative solutions.
What are the challenges of data lakes?
Data organization and security remain key challenges. Unstructured data can become "data swamps" if not properly managed, hindering its potential.
What are the key drivers fueling the data lakes market growth?
Several factors are propelling the data lakes market forward, including the rapid rise in data volume (driven by IoT), increasing demand for low-cost storage, and the growing adoption of data analytics by industries like BFSI and Oil & Gas.