Data Lakes Market 2017-2027 Shares, Trend and Growth Report

Data Lakes Market
A large amount of data is being generated on digital information platforms on a daily basis. According to
IBM, 2.5 quintillion bytes of data is generated every day. This explosive amount of data create the need
for efficient data storage systems. Data lakes are storage systems which can store massive amount of data
in its raw form. This unstructured data can further be used by data scientists and analysts for remodelling
and transforming it into diversified data sets for further use.
Data lake also helps to enhance business agility as this storage model supports multiple distributions and
workloads of varied sizes and types. This enables the data scientist to centralize massive data from
various applications in the one logical storage pool. It can contain different types of data including files,
audio, video, and databases.
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Data Lakes Market: Drivers and Restraints
One of the important drivers in the adoption of Data lakes is cost reduction. Data lakes directly ingests
data in its original format rather than moving it into a purpose-built data store. The data contained in
data lakes can be used for analysis and transformation there only, thus reducing the need and cost of
another server for data transformation. Further, it solves the problem of big data. The information
generated through Big Data is highly varied in nature. But data lake’s ability to store massive data in
different forms tackles the problem.
However, data lakes face some challenges which include slow on boarding and integration of data and
high post boarding and maintenance cost. This is why many organizations are hesitant to adopt data lakes
thus hampering the growth of data lakes market.
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