Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Open-Source Services Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" report has been added to ResearchAndMarkets.com's offering.
This market report highlights an impressive trajectory for the Global Open-Source Services Market, with an anticipated compound annual growth rate (CAGR) of 16.58% through 2028. Fueled by the adoption of cutting-edge technologies and innovative software development practices, the market which was valued at USD 25.78 billion in 2022, is projected to maintain robust growth in the years ahead.
In a transformative move, enterprises of varying sizes are increasingly turning to open-source software to meet their operational and technological needs. One of the hallmarks of this market surge is the convergence of open-source solutions with cloud-native technologies. With the seamless integration of vital tools like Kubernetes, Docker, and other cloud-native resources, open-source services are shaping the future of cloud computing.
The North American region emerges as a dominant player in the global landscape. Its advanced IT infrastructure coupled with the growing demand for cost-efficient, flexible open-source services ensures its leading position. As organizations grapple with complex technical environments, the expertise of open-source service providers becomes invaluable, further driving market growth in the region.
Professional and managed services represent significant segments within the market, with managed services providers (MSPs) gaining traction. These MSPs are instrumental in aiding organizations to migrate to the cloud, develop custom applications, and ensure round-the-clock support for their open-source software solutions. Their rise is underpinned by various growth drivers, including the increasing complexity of open-source environments and the necessity for specialized expert assistance.
Heightened awareness of security and regulatory compliance within the open-source sphere is a notable trend. Open-source communities and service providers are investing in robust security protocols, vulnerability assessments, and compliance measures to safeguard against escalating cyber threats and adhere to stringent data protection legislation.
Key Market Drivers
- Cost-Efficiency and Flexibility: Enterprises are adopting open-source services due to their affordability and the customization they offer, which is crucial for unique industry-specific workflows.
- North America's Market Dominance: With a sophisticated IT infrastructure and a pressing demand for open-source technology, North American businesses are leading global market consumption.
- Enterprise Adoption: Enhanced software flexibility and access to a vast and innovative community of developers propel open-source solutions to the forefront of enterprise preferences.
- Security and Transparency: Open-source software leverages community expertise for heightened security and compliance, made possible by an inherently more transparent development process.
Key Market Trends
- Surge in Cloud-Native Open-Source Solutions: Cloud-native computing and open-source software continue to merge, creating ecosystems that encourage innovation and scalability.
- Focus on Security and Compliance: Security and compliance remain top priorities within the open-source community, as these aspects are integral to the software's reliability and success.
This comprehensive exploration into the open-source services market uncovers the pivotal role that advanced technologies, such as artificial intelligence, machine learning, and blockchain, play in reshaping the approach to software development and deployment. The forecasted growth signifies a strong trajectory for the adoption of open-source solutions, as organizations prioritize agility and collaborative innovation.
The trends analyze crucial aspects of the market, providing a lens into the factors and forces driving its expansion, while also pinpointing challenges and opportunities that lie ahead.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $25.78 Billion |
| Forecasted Market Value (USD) by 2028 | $65.3 Billion |
| Compound Annual Growth Rate | 16.5% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes:
- Red Hat, Inc.
- Canonical Group Limited
- SUSE LLC
- The Apache Software Foundation
- GitHub, Inc.
- Docker, Inc.
- Jenkins
- Eclipse Foundation, Inc.
- MongoDB, Inc.
- Cloudera, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/iz2dte
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