Global Open Source Services Market Size 2024, Forecast To 2033
11 Mar, 2024
The open source services market has witnessed exponential growth, increasing from $36.67 billion in 2023 to $44.98 billion in 2024, indicating a substantial compound annual growth rate (CAGR) of 22.7%. This growth in the historic period can be attributed to the expansion of emerging markets, a heightened focus on digitizing business processes, increased spending on information technology, and the growing prevalence of big data and automation. Moving towards 2028, the market is expected to experience continued exponential growth, reaching $107.46 billion with a CAGR of 24.3%. Projected drivers for this growth include the rising utilization of cloud computing, increased government support, and a growing number of tech-savvy individuals. Key trends in the forecast period encompass the introduction of new open-source versions, the launch of quantum-centric supercomputing, investments in artificial intelligence, technological advancements, and product launches.
Global Open Source Services Market Key Driver
The open-source services market is experiencing growth due to the reduced cost of ownership and time-to-market benefits. Utilization of open-source services is evident in platforms like MySQL Databases, Apache HTTP Server, WordPress by Automatic, Ubuntu by Canonical, MuleSoft Data Integration Platform, and Red Hat. Open-source solutions contribute to cost savings for clients across various aspects, including acquisition, deployment, support, and maintenance. A study by Linux Foundation Consulting reveals that clients adopting open system software save 20-55% over commercial alternatives, encompassing not only acquisition costs but also extending to deployment, support, and maintenance expenses. Consequently, the reduced cost of ownership and improved time-to-market dynamics are anticipated to drive the growth of the open-source services market, with market sizes in 2023, 2024, and 2028 influencing its development.
Get A Free Sample Of The Global Open Source Services Market ReportGlobal Open Source Services Market Segments
The open source services market covered in this report is segmented –
1) By Service Type: Professional Services, Management Services
2) By End-Use Industry: Banking, Financial Services And Insurance (BFSI), Telecom And IT, Manufacturing, Government, Healthcare, Retail, Other End-User
By Geography:The regions covered in the open source services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the open source services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the open source services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Open Source Services Industry Players
IBM Corporation, Oracle Corporation, Hewlett Packard Enterprise, Accenture, Cisco Systems, Infosys, Salesforce.com, HCL, Atos Information Technology Incorporated, Wipro, Appsmith, Zilliz, Alibaba, Tencent, Endor Labs, Dgraph Labs, ToolJet, ValarDigital, 5ire, CivicDataLab, Swan Solutions & Services Pvt. Ltd, UCloud Information Technology, Mindee, Luos, Platform.sh, Strapi, PrestaShop, Bonitasoft, SensioLabs, draw.io, Sysdig, Giskard, Starburst, Bucharest DevOps Hackers Meetup, JSHeroes Meetups, SKB Kontur, Saleor Commerce, Tensor, Pachyderm, Rapid Silicon, Mirantis, SpiderOak, Eclipse Foundation, Appnovation, LifeRaft, PerfectlySoft Inc, BoxOfDocs, Cogdina, Sonatafy Technology, GoNet, Teravision Technologies, Extendo, ClickIT Smart Technologies, Altoros, Exoft, CodeNinja, Tuxdi, Flowing Code, Zarego, GitHub, Treeverse, flexiWAN, Linnovate, AeroBase Group, Inc, Foretold, OpenSource Intelligent Solutions (Pty) Ltd, Bridge IT Support, Axial Technologies (Pty) Ltd, Saturn Technologies, Data.world, Hope La Fleur Communications Networks, Green IT Web, Net Advertising Solutions
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Open Source Services Market Overview
Open source services refer to software for which the source code is made freely available and may be redistributed and modified according to the requirement of the user. OSS typically includes a license that allows programmers to modify the software to best fit the needs and control how the software can be distributed. Open source code is shared publicly. Anyone can access the repository to use the code independently or contribute to the improvements of the design and functionality of the project.
Open Source Services Global Market Report 2023 provides data on the global open source services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The open source services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.