You can use the Lazy Load Component with dynamic data.
We have a dynamic masonry layout on our page, created from a database query. You can use any dynamic source of course - database, API data source or JSON file. Masonry is also not required, we just like it and that’s why we added it 
So, inside the repeat region, add new element:
Open the content category and select image:
Do not use the standard src option, it should remain empty. Enable the responsive option for your image, as you are usually doing for responsive images:
Add new dynamic attribute:
Open the Display category and add Dynamic Lazy Load:
Click the dynamic data picker button, to select your dynamic image source:
Select the binding you need and click the select button:
And you are done! Lazy Load has been applied to the dynamic images in your repeat region:
You can see the results in your browser. Only the needed images are loaded on page load, the rest are being loaded while you scroll down:
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