IMARC Group, a leading market research company, has recently releases report titled “Open Source Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global open source services market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the open source services market?
The global open source services market size reached US$ 25.93 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 74.46 Billion by 2028, exhibiting a growth rate (CAGR) of 17.60% during 2023-2028.
What is open source services?
Open source services refer to the software and tools that are freely available to modify, use, and distribute under an open source license. These benefits are often developed in a decentralized and collaborative way by a society of volunteer contributors who cooperate to improve the software and provide support to users. Open source services include databases, operating systems, programming languages, web servers, content management systems, and other software tools. These solutions are reliable, flexible, secure, and cost-effective, allowing users to create customized specific changes. In addition to this, open source services also offer various advantages, as they enable coders from distinct backgrounds and unique perspectives to make regular updates and improve their value and flexibility. As a result, these solutions find widespread applications in the cloud, project, business process and web content management and data integration.
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What are the growth prospects and trends in the open source services?
The extensive utilization of these platforms across several industries, such as software development, data analytics, and cloud computing, to enable users to modify and interact with the original code is among the primary factors driving the open source services market. Besides this, the integration of artificial intelligence (AI) algorithms in businesses to automate the process of writing, producing, and testing code and suggest improvements or optimizations is further augmenting the market growth. Moreover, the escalating demand for cloud computing, the rising research and development (R&D) activities, and the elevating requirement for advanced clinical decision support (CDS) in healthcare and life sciences are also catalyzing the global market. Apart from this, the increasing need for these solutions in small and medium-sized enterprises (SMEs) to optimize operations and maintenance budgets and allocate funds toward segments is anticipated to propel the open source services market over the forecasted period.
What is included in market segmentation?
The report has segmented the market into the following categories:
Service Type Insights:
Professional Services
Training and Consulting
Integration and Implementation
Support and Maintenance
Managed Services
Organization Size Insights:
Large Enterprises
Small and Medium-sized Enterprises
Industry Vertical Insights:
BFSI
IT, ITeS, and Telecom
Retail and E-commerce
Healthcare and Life Sciences
Manufacturing
Education
Others
Breakup by Geography:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Charter Global Inc.
Chetu Inc
Cisco Systems Inc.
Databricks Inc.
Happiest Minds Technologies Limited
HashiCorp
Hewlett Packard Enterprise Company
Infosys Limited
International Business Machines Corporation
Nous Infosystems
Percona LLC
Wipro Limited
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