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Open Source Services Market (Service Type - Managed Services, and Professional Services; Vertical - IT and ITeS, Transportation and Logistics, Telecommunications, BFSI, Manufacturing, Healthcare and Life Sciences, Consumer Goods and Retail, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : December, 2021

  • Rep Id : ICT003039

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on the open source services market provides in-depth analysis of segments and sub-segments in the global as well as regional open source services market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional open source services market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global open source services market. According to the report, the global open source services market is projected to grow at a CAGR of 18.38% over the forecast period of 2021-2027.

 

Market Insight

The global Open Source Services market was sized near USD 21.98 million in 2021 and it is expected to reach up to USD 60.49 million in 2027. The global Open Source Services market is projected to grow with a CAGR of 18.38% during 2021-2027. Open source services offerings spotlight open source technologies through the whole technology spectrum together with servers to data integration software and critical business solutions such as Big Data, and customer relationship management. Open source services are custom-made around the open-source software, however, the basic offerings are like traditional IT service offerings. It generally requires no licensing fees, as well as the logical extension, is no maintenance fees.

 

The global open source services market is driven by factors such as simple management and less cost of software licensing. Open source is generally much more inexpensive in an enterprise environment for equivalent or superior capability than a proprietary solution. These solutions enable technology agility that offers multiple ways to solve problems. These solutions also help keep IT organizations from getting blocked because a certain capability isn’t available from a vendor. Furthermore, simple bug removal and tracking and freedom from vendor lock-ins also drive the global open source services market. Open-source software is more secure as everyone can access its code. However, the shortage of applications that run open-source software hampers the global open source services market. Moving to an open-source platform comprises a compatibility analysis of all the other software used that runs on registered platforms. Moreover, the increasing adoption of open source cloud technology provides growth opportunities to the market players. The outbreak of the novel COVID-19 over the world has generated many new challenges for the business world. In the wake of the outbreak of the COVID-19 pandemic, multiple organizations have produced lists of open-source software that can be used in an effective response and recovery plan. These project hubs shoulder the burden of open source project discovery, making it easier for governments to find projects that fit their needs.

 

Among the geographies, the North American region is expected to hold the largest share in the global open source services market owing to the presence of numerous key players in the region. Further, the region is also projected to account for the largest share in the global open source services market and is considered the most advanced region in terms of cloud, AI, and machine learning technologies. Moreover, the Asia Pacific region is projected to witness the fastest growth in the global open source services market during the forecast period owing to the rising IT infrastructure. Additionally, the Asia Pacific region is home to a creditable amount of cloud service providers, which are progressively embracing the adoption of advanced technologies, such as cloud services in developing economies such as China and India drive the open source services market in this region.

 

Segment Covered

The report on global open source services market covers segments such as service type, and vertical. On the basis of service type, the sub-markets include managed services and professional services. On the basis of vertical, the sub-markets include IT and ITeS, transportation and logistics, telecommunications, BFSI, manufacturing, healthcare and life sciences, consumer goods and retail, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as IBM Corporation, C AHEAD, Happiest Minds, Evoke Technologies Pvt Ltd, TietoEVRY Corporation, Swan Solutions & Services Pvt. Ltd., Fujitsu Limited, Infosys, Cisco Systems, ATOS, and HCL Corporation.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the open source services market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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