Open-Source Services Market to expand at a CAGR of 16.80% by 2032
Research Reports
Nov 10, 2023
Open-Source Services Market — A Comprehensive Overview
The open-source services market size was estimated to be USD 24.5 billion in 2022. The open source services market is expected to grow from USD 28.6 billion in 2023 to USD 99.1 billion by 2032 at a CAGR of 16.80 percent during the forecast period. (2023-2032). Emphasis on reduced time-to-market and lower total costs, as well as increased adoption of OSS due to service flexibility, agility, and reliability, are key drivers of market growth.
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Key Companies in The Open-Source Services Market Include
- IBM Corporation
- Oracle Corporation
- Red Hat, Inc.
- Accenture Plc.
- Wipro Limited
- Cisco System, Inc.
- SUSE
- MuleSoft, LLC
- Data bricks Inc.
- ComHewlett Packard Enterprise Development LP
- Infosys Limited
- Kubermatic GmbH
A free or open-source license gives anyone access to the design or blueprint of a product so that it can be widely distributed. Because open source software is often free, it is possible to create custom software without reinventing the wheel. Unlike closed source software, open-source software can be modified and extended by any developer familiar with the source code. Organizations would not have to worry about licenses if they used open-source software.
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They can install open-source software multiple times and access it from anywhere. Organizations do not need to monitor, calculate, or monitor license compliance. Open source software usually works with multiple platforms. This gives the customer the opportunity to choose the platform that best suits their needs. Customers can save a lot of money by using cheaper options. However, the quality has not decreased. In general, open source code is significantly cheaper than a proprietary solution. In an enterprise environment, open-source solutions are often much cheaper for equal or better functionality and allow companies to start small and grow.
Open-source software provides everything from medical devices to physician management. Companies use a variety of software resources from on-premises, cloud, SaaS, and open-source sources. They can be accessed from anywhere through service calls and APIs, and they work anywhere. The expanding attack surface of these applications in this fragmented context is due to APIs, serverless interfaces, sensitive services, and opaque software. Open Source Services Market Segment Overview Open Source Services: Service Overviews
Segmentation of The Open-Source Services Market
based on services includes managed services, support and maintenance, training and consulting, and implementation. In 2022, the global market was dominated by the managed services segment.
Open-source services market segmentation based on company size includes both small and medium enterprises as well as large enterprises. The large enterprise segment dominated the global market in 2022.
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Industry-based open-source market segmentation includes banking, finance, and insurance (BFSI), public administration, information technology and telecommunications, manufacturing, healthcare and life sciences, retail, and others. Healthcare and life sciences dominated the open-source services market in 2022.
By region, the study provides a market overview of North America, Europe, Asia Pacific, and rest of the world. In 2022, this market was dominated by the North American open source service market (45.80%). The massive availability of data has accelerated the development of cloud-based artificial intelligence and machine learning technologies, creating a demand for more heterogeneous computing. Such developments are very welcome in North America. Additionally, the US open-source services market held the largest market share, and the Canadian open-source services market was the fastest growing market in the North America region.
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