Dublin, Dec. 07, 2021 (GLOBE NEWSWIRE) -- The "Global Open Source Services Market By Type, By Industry Vertical, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Open Source Services Market size is expected to reach $60 billion by 2027, rising at a market growth of 17% CAGR during the forecast period.
The term 'open source' refers to a kind of licensing agreement, which enables users to independently alter a work, combine work with big projects, use a work in different ways or develop a new work out based on the authentic. Open source helps in eliminating barriers among innovators, which encourage a free exchange of ideas inside a community to fuel scientific, creative, and technological advancements. The software industry is the most common user of open source; however, several professionals across different industries including electronics, biotech, robotics, fashion, and teaching, are using open source solutions.
Factors like increasing accessibility of open source platforms, growing tech-savvy population, and more flexibility to alter the code are increasing the popularity of open source services around the world. Open source services help customers to communicate and alter the source code. The relevance of these services has increased because several users can create a code in a better way and make it more purposeful. Moreover, open source management projects help in improving the enterprise capabilities. Software like LibreCAD (2D CAD software), Blender (3D modeling software), and SimPy, automatically provide various advantages owing to copyright protection, which is expected to provide the developer with better control over permission to create copies of the derivatives.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has positively impacted the open source services market. The imposition of various restrictions like travel bans and lockdown, which has motivated companies to adopt open source services for advancing and innovating their products. In addition, the adoption of work from home culture due to the pandemic has created more complex challenges for companies to overcome. There are several companies that are increasingly adopting open source services to get a competitive edge and carry out the latest innovations.
Market Growth Factors:Low cost of software licensing along with easy management
Replacing a paid software package with an open source version can help in cutting down the overall cost, which is very beneficial for enterprises. Several open source software products are freely shared, which makes them highly popular and thus, contributes to their high adoption rate. The open source software is not similar to closed proprietary software as it can be changed and extended by any developer across the world that is familiar with the source code.
More transparency with reliability is expected to support the market growth
Open source code provides full visibility into the code base and also enables all discussions regarding the way a community build features and tackles bugs. On the other hand, proprietary code generated in secrecy may bring unexpected restrictions, which are motivating companies to adopt open source services or solutions and hence, fueling the growth of the open source services market over the forecast period. By using open source services, companies can protect themselves from lock-in risks and thus, increase the reliability of the solutions, which is expected to surge the adoption of open source services and solutions.
Market Restraining Factor:Open source services or solutions are more prone to malicious users
Open source provides numerous benefits but it is a threat to companies as well because open source services are also accessible to others, which increases the security risks of any company. In addition, security risks are the major challenges for the companies as users with malicious intentions can view the code and modify it for their benefit. There are several people who have access to the source code of any open source service, but not everyone has good intentions.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; IBM Corporation, Cisco Systems, Inc. and Accenture plc are the forerunners in the Open Source Services Market. Companies such as Salesforce, Infosys Limited are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Suse SA, Percona, Salesforce.com (Mulesoft), Wipro Ltd., Accenture plc, Evoke Technologies, Cisco Systems, Inc., Infosys Limited, and Hewlett Packard Enterprise.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2017, Jun - 2021, Jun) Leading Players
Chapter 4. Global Open Source Services Market by Type
4.1 Global Open Source Services Professional Services Market by Region
4.2 Global Open Source Services Market by Professional Services Type
4.2.1 Global Open Source Services Training & Consulting Market by Region
4.2.2 Global Open Source Services Integration & Implementation Market by Region
4.2.3 Global Open Source Services Support & Maintenance Market by Region
4.3 Global Open Source Services Managed Services Market by Region
Chapter 5. Global Open Source Services Market by Industry Vertical
5.1 Global IT, ITeS & Telecom Open Source Services Market by Region
5.2 Global BFSI Open Source Services Market by Region
5.3 Global Consumer Goods & Retail Open Source Services Market by Region
5.4 Global Manufacturing Open Source Services Market by Region
5.5 Global Healthcare & Life Sciences Open Source Services Market by Region
5.6 Global Transportation & Logistics Open Source Services Market by Region
5.7 Global Education Open Source Services Market by Region
5.8 Global Other Industry Vertical Open Source Services Market by Region
Chapter 6. Global Open Source Services Market by Region
Chapter 7. Company Profiles
7.1 SUSE S.A.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 Recent strategies and developments:
7.1.5.1 Partnerships, Collaborations, and Agreements:
7.1.5.2 Product Launches and Product Expansions:
7.1.5.3 Acquisition and Mergers:
7.2 Percona LLC.
7.2.1 Company Overview
7.2.2 Recent strategies and developments:
7.2.2.1 Partnerships, Collaborations, and Agreements:
7.2.2.2 Product Launches and Product Expansions:
7.3 Evoke Technologies Pvt Ltd
7.3.1 Company Overview
7.4 IBM Corporation
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Regional & Segmental Analysis
7.4.5 Recent strategies and developments:
7.4.5.1 Partnerships, Collaborations, and Agreements:
7.4.5.2 Product Launches and Product Expansions:
7.4.5.3 Acquisition and Mergers:
7.4.6 SWOT Analysis
7.5 Hewlett Packard Enterprise Company
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expense
7.5.5 Recent strategies and developments:
7.5.5.1 Product Launches and Product Expansions:
7.5.5.2 Acquisition and Mergers:
7.5.6 SWOT Analysis
7.6 Accenture PLC
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.6.5 Recent strategies and developments:
7.6.5.1 Partnerships, Collaborations, and Agreements:
7.6.5.2 Product Launches and Product Expansions:
7.6.6 SWOT Analysis
7.7 Infosys Limited
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expense
7.7.5 Recent strategies and developments:
7.7.5.1 Product Launches and Product Expansions:
7.7.5.2 Acquisition and Mergers:
7.7.6 SWOT Analysis
7.8 Wipro Limited
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Research & Development Expenses
7.8.5 Recent strategies and developments:
7.8.5.1 Partnerships, Collaborations, and Agreements:
7.8.6 SWOT Analysis
7.9 Cisco Systems, Inc.
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Regional Analysis
7.9.4 Research & Development Expense
7.9.5 Recent strategies and developments:
7.9.5.1 Partnerships, Collaborations, and Agreements:
7.9.5.2 Acquisition and Mergers:
7.9.6 SWOT Analysis
7.10. Salesforce.com, Inc. (Mulesoft)
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Regional Analysis
7.10.4 Research & Development Expense
7.10.5 Recent strategies and developments:
7.10.5.1 Product Launches and Product Expansions:
7.10.5.2 Acquisition and Mergers:
7.10.6 SWOT Analysis
For more information about this report visit https://www.researchandmarkets.com/r/au46e
