What Has Been the Growth of the OpenStack Service Market So Far?
The openstack service market has seen considerable growth due to a variety of factors.
• The dimension of the OpenStack Service market has expanded substantially in the past few years. The market size is expected to augment from $16.63 billion in 2024 to $21.27 billion in 2025, growing at a compound annual growth rate (CAGR) of 27.9%.
Factors like flexibility and personalization, vendor impartiality, communal support, and innovation and exploration have majorly contributed to this growth during the previous period.
How Will the OpenStack Service Market?
The openstack service market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of OpenStack service is predicted to experience a significant upswing in the upcoming years, swelling to a staggering $55.72 billion by 2029 with a compound annual growth rate (CAGR) of 27.2%.
Factors that could contribute to this spurt during the forecast period involve the incorporation of edge computing, AI, and machine learning along with the integration of containers and Kubernetes. Including the hybrid and multi-cloud strategies, along with data management and governance, further propels the market growth. Key trends encompass ai-driven automation, advancing towards standardization and interoperability, ecosystem amalgamation, improvements in regulatory compliance, and developing industry-specific solutions.
Which Factors Are Boosting Growth In The OpenStack Service Market?
The surge in demand for hybrid and multi-cloud implementations is foreseen to boost the expansion of the open-stack service market in the future. A hybrid cloud system incorporates both private and public cloud facilities, while a multi-cloud framework involves two or more public cloud facilities. The appeal for hybrid and multi-cloud implementations is growing due to their capacity to deliver adaptability, scalability, resilience, and cost efficiency to organizations. OpenStack's hybrid and multi-cloud implementations allow businesses to enhance resource utilization by dynamically distributing workloads across different cloud environments based on performance, cost, and legal parameters. For instance, as per data released in December 2023 by CloudZero Inc., a cloud computing firm based in the US, most firms employed a hybrid cloud strategy (39% compared to 36% in the previous year) or a multi-cloud approach (33%) to tap into multiple services, attain scalability, or maintain business continuity. Additionally, four out of five corporations make use of two or more IaaS or PaaS suppliers. Hence, the escalating demand for hybrid and multi-cloud implementations is facilitating the expansion of the open-stack service market.
What Key Areas Define The Segmentation Of The Global OpenStack Service Market?
The openstack service market covered in this report is segmented –
1) By Component: Services, Solutions
2) By Deployment Model: On-Cloud, On-Premise
3) By End-User Industry: Information Technology, Telecommunication, Banking And Financial Services, Academic, Retail Or E-Commerce
Subsegments:
1) By Services: Infrastructure As A Service (IaaS), Platform As A Service (PaaS), Cloud Management Services, Professional Services (Consulting, Support)
2) By Solutions: Private Cloud Solutions, Public Cloud Solutions, Hybrid Cloud Solutions, Storage Solutions
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How Are Emerging Trends Reshaping The Dynamics Of The OpenStack Service Market?
Leading businesses in the OpenStack service market are pioneering new technologies like OpenStack Platform 17.1 to enhance their market profitability. This platform provides an all-inclusive and advanced cloud infrastructure platform which organizations can leverage for efficient deployment and management of their applications and services. For example, in June 2023, the American software company, Red Hat Inc., introduced OpenStack Platform 17.1 with improved security measures. Specifically, Red Hat Inc.'s Platform 17.1 is designed to bolster sophisticated use cases like open virtualized radio access networks (RAN), 5G standalone cores, and numerous aspects of network, storage, and computing. The goal is to help service providers optimize their resources, scale rapidly, and bridge the gap between their existing 4G investments and upcoming 5G network infrastructure.
Who Are the Key Players In The OpenStack Service Market?
Major companies operating in the openstack service market are:
• Dell Inc.
• Huawei Technologies Co. Ltd.
• IBM Corporation
• Cisco Systems Inc.
• Oracle Corporation
• Hewlett Packard Enterprise Company
• VMware Inc.
• NetApp Inc.
• Red Hat Inc.
• Rackspace US Inc.
• SUSE Software Solutions Germany GmbH
• Canonical Ltd.
• Docker Inc.
• Nuage Networks
• EasyStack Inc.
• Mirantis Inc.
• Bright Computing Inc.
• Trilio Data Inc.
• CloudFerro S.A.
• CloudEndure Ltd.
• Platform9 Systems Inc.
• Cloudscaling Group Inc.
• Piston Cloud Computing Co.
• Nebula Inc.
• Nexenta Systems Inc.
What Is The Most Dominant Region In The OpenStack Service Market?
Europe was the largest region in the openstack service market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the openstack service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
