Global Open-Source Services Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027. The increasing return on investments and reduction in the total costs of ownership are some of the factors driving the growth of Global Open Source Services Market.
Global Open-Source Services Market is valued at USD 19.06 Billion in 2020 and expected to reach USD 66.3 Billion by 2025 with the CAGR of 20.8% over the forecast period.
Open source service is focused on highlighting the open-source technology through its whole technology spectrum, which includes a critical business solutions and server to data integration software such as customer relation management and big data. In addition, open source service is a type of computer software where source code is released by the copyright holders for users to utilize, study, and also can modify it. Globally, the open-source services strive to help the firm to achieve IT strategic goals and help to improve the productivity, performance, and maximize the efficiency of the organization. Open source services are also used for business process management, cloud management, web content management, data integration, and project management. Open source service in cloud computing offers high affinity with a range of products such as cloud foundry and cloudify. In addition, it is also used in software modeling tools and software development tools. These services are made as per companies’ requirements around the open-source software and it is also made through its basic offerings such as traditional IT service offerings. In addition, it is also used in Lenux operating system, Firefox browser, Android by Google, VCL media player, Open office, wordPress content management system and many other applications.
Covid-19 has positively impacted the open source service market as the demand for open-source service sees an upward trend. Vendors in the market are using and expanding open source repositories containing models, datasets, web and mobile applications, visualizations, and strive for innovating and building new solutions to obstruct the spread of the virus through generating awareness. For example, Locale.ai created an open-source, interactive visualization of all known cases of COVID-19. The map provides live updates with new data as it becomes available which expected to have positive impact on the market.
The global open-source services market is segmented on the basis of service, industry, and region & country level. On the basis of service, the global open-source services market is classified as consulting services, implementation, support, maintenance, and management services, training services. Based on industry, the global open-source services market is classified as banking, financial services, and insurance (BFSI), manufacturing, healthcare and life sciences, retail and distribution, other.
The regions covered in global open-source services market reports are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, global open-source services market sub divided in U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Open-Source Services Market reports cover prominent players like Red Hat, Accenture, Accenture, Wipro, IBM, Infosys, Cisco Systems, ATOS, HCL, HPE, Oracle and others.
News: Equinox Launched New Website Featuring Open Source Library Products, Services, and Education
April 20th, 2021; Equinox provided innovative open source software for consortia of all types, serving academic, public, school, corporate, cultural, and government organizations and libraries. The website served as the central place for current news from Equinox, information about open source library software, including Evergreen, Fulfillment, and CORAL, and details and announcements regarding Equinox's grants, programs, and community events. In addition, Equinox offered library consulting, training, and technology services. Consulting topics includes workflow analysis, process improvement, consortia policy evaluation and management, web design, custom training sessions and workshops, IT services and support, data services and many others.
News: FOSSID and BearingPoint Enter Strategic Partnership around Open Source Software Governance
On April 6th, 2020; FOSSID and BearingPoint announced their strategic partnership around free and open source software governance. After successful collaboration, BearingPoint decided to choose FOSSID as its strategic provider of open source analysis tools. FOSSID’s technology offered high performance and accuracy in the code analysis services performed by BearingPoint. This joint ventures further helped companies to achieved maximum FOSS adoption efficiency by introducing tools that provide high levels of performance, accuracy, privacy and automation.
News: Dell, Intel Capital Invested Millions in Open Source Startup Tetrate
Mar 11th, 2021- Intel and Dell Technologies Capital invested in a USD 40 million for open-source technology startup Tetrate, which planned to create a new Software as-a-Service offering with the funding. Tetrate is one of the biggest contributors to the Istio and Envoy proxy open source projects. This project can be used for enterprises by making it easy to manage and deploy on multi-cloud and hybrid cloud environments.
The key factor driving the growth of global open-source services market is cost-effective service and accessible software to everyone in the business for providing valuable solutions for the enterprise. In addition, the factors such as increasing return on investment and reduction in the total cost of ownership are some of the factors expected to drive the market growth. In addition, the open-source service provides the secured data to its customers. The rapidly increasing demand for real-time important data and requirement of the open-source intelligence market also leads to foster the growth of the open-source market. However, on the other hand, the low security of open source software and the high cost of integrating services may hamper the market growth. In spite of that, 24*7 supports from vendors to provide services right from consulting to training, implementation, and maintenance, leads to solve issues quickly, ensuring optimum efficiency to the customers which may create an opportunity for the further growth of the market.
Increasing adoption of open-source software across several industries such as finance, sales and marketing, healthcare and manufacturing is a major factor driving the growth of global open source software market. For example, HospitalRun is free open-source software solution for medical practices, easy to use software for developing world healthcare. It is one of the most popular offline-first electronic health records and hospital information system. The HospitalRun project encourages micro industry around the deployment of the system, but the code is free and open-source and always assessable. Also, it gives the opportunity for industry to implement new technology while still using legacy systems. In addition, surge in the demand for big data & analytics, cloud, internet of things (IoT) with open source and growing internet users are also boosting the market growth in the forecast period. According to the IDC data report, worldwide spending on the Internet of Things (IoT) expected to reach USD745 billion in 2019, an increase of 15.4% over the USD646 billion used in 2018. Also, increase in the demand for the internet is expected to boost the growth of the market in forecast period. As per World Bank, from 2006 to 2016, the number of internet users has increased by nearly 28% from 206.01 million to 286.94 million in the U.S.
North America is expected to dominate the global open-source services market. The North America is the largest contributor in the open-source services market growth owing to the early adoption of advanced technologies and solutions and the high funding in the cloud-based solutions for the better performance of the enterprise in this region. In addition, players are focusing on partnership activities which is further fostering the market growth in this region. For example; in March 2020, Intel partnered with Hewlett Packard Enterprise and support from key industry leaders including Red Hat, Tech Mahindra, AMI, and many others.
Asia Pacific is expected to witness a significant growth in global open source service market in terms of revenue, especially in China, where a lot of companies are dependent on IT technology, which is increasing the utilization of the open-source. The adoption of open source services is increasing in Asia Pacific and European Union, due to the rising IT spending and increasing digitalization. European Union is also anticipated to expand the market due to the increasing rate of technology adoption, digital transformation and organization are using open source services for IT infrastructure modernization.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2027|
|Market Size in 2020:||USD 19.06 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2027:||USD 66.3 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Red Hat, Accenture, Accenture, Wipro, IBM, Infosys, Cisco Systems, ATOS, HCL, HPE, Oracle and others|
|Segments Covered||By Service, By Industry|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
Middle East and Africa