The Europe Data Lake Market would witness market growth of 19.6% CAGR during the forecast period (2023-2030).
The data lakes help businesses improve their capabilities by providing benefits such as coverage for every source of data, linear scalability, the ability to accommodate information at high velocities, high flexibility, and the elimination of information silos. Also, enterprises obtain a competitive advantage by extracting additional value from the stored information as soon as possible. It provides organizations with sophisticated and dynamic data analytics capabilities.
Moreover, the implementation of data lakes is less expensive than the implementation of a data warehouse. Therefore, its adoption is expected to increase over the forecast period. A rise in IoT device adoption is anticipated to affect market expansion positively. With the increasing adoption of IoT, the proliferation of data will continue to drive market expansion.
According to the International Trade Administration, total industry demand in France for medical equipment was estimated at $42.7 billion in 2021, with imports accounting for $16.8 billion. As France's healthcare system continues to evolve, driven by increasing demand for medical equipment and advancements in healthcare technology, data lakes have become instrumental in managing, analyzing, and extracting valuable insights from the growing volume of healthcare data. The adoption of data lakes in the healthcare sector is expected to further enhance patient care, operational efficiency, and medical research in France. Due to the abovementioned factors, the market will grow in this region.
The Germany market dominated the Europe Data Lake Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,358.7 million by 2030. The UK market is exhibiting a CAGR of 18.5% during (2023 - 2030). Additionally, The France market would experience a CAGR of 20.5% during (2023 - 2030).
Based on Component, the market is segmented into Solution, and Services. Based on Enterprise Size, the market is segmented into Large Enterprises, Small & Medium Enterprises. Based on Deployment Type, the market is segmented into On-premise, and Cloud. Based on Vertical, the market is segmented into IT, Media & Entertainment, Healthcare, BFSI, Manufacturing, Retail & Ecommerce, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Data Lake Market will Hit $51.3 Billion by 2030, at a CAGR of 19.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon Web Services, Inc., Cloudera, Inc., Dremio Corporation, Informatica Inc., Microsoft Corporation, Oracle Corporation, SAS Institute Inc., Snowflake Inc., Teradata Corporation and Zaloni, Inc.
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