DATA LAKE MARKET GROWING AT A CAGR 20.6% | KEY PLAYER MICROSOFT, ORACLE, CLOUDERA, SAS INSTITUTE, IN
MarketsandMarkets forecasts the global Data Lake Market size to grow from USD 7.9 billion in 2019 to USD 20.1 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 20.6% during the forecast period. The major growth factors of the data lake industry include the increasing need to extract in-depth insights from growing volumes of data to gain competitive advantage, and simplified access to organizational data from departmental silos, mainframe, and legacy systems.
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