The Open Source Services Global Market Report 2023 by The Business Research Company, provides open source services market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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In accordance with the insightful findings presented in The Business Research Company’s Open Source Services Global Market Report 2023, it is discerned that the global open source services market is poised for substantial expansion, projecting a commendable ascent from its valuation of $30.62 billion in 2022 to an estimated $37.74 billion in 2023. This growth trajectory reflects a notable compound annual growth rate (CAGR) of 23.2%, underscoring the dynamic nature of the market.
However, the global economic landscape has encountered a significant disruptor in the form of the Russia-Ukraine conflict, impeding the anticipated rebound from the COVID-19 pandemic in the immediate future. This geopolitical strife has precipitated far-reaching repercussions, encompassing economic sanctions imposed on various nations, a surge in commodity prices, and disruptions in supply chains. The resultant inflationary pressures have reverberated across diverse sectors, exerting an influence on global markets.
Despite these challenges, the open source services market is projected to further burgeon, reaching an impressive market size of $89.03 billion by 2027, driven by a robust CAGR of 23.9%.
Reduced cost of ownership and time to market has been contributing to the growth of the open-source services market. MySQL Databases, Apache HTTP Server, WordPress by Automatic, Ubuntu by Canonical, MuleSoft Data Integration Platform, and Red Hat are using open source. Using OSS can reduce development costs to clients in numerous ways, such as costs associated with acquisition, deployment, support and maintenance.
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The open source services market is segmented:
1) By Service Type: Consulting and Implementation Services, Support, Maintenance, and Management Services, Training Services
2) By End-User Industry: Banking, Financial Services, and Insurance, Telecom and IT, Manufacturing, Government, Healthcare, Retail, Other End User
Top 5 Major Players:
This prognosis underscores the resilience and adaptability of the open source services sector, poised to surmount geopolitical uncertainties and chart a trajectory of sustained growth in the coming years.
A discernible trend in the industry landscape is the burgeoning prevalence of partnerships between companies, aimed at catalyzing technological evolution and mitigating time-to-market constraints. Evidently, information technology entities worldwide are actively engaging in strategic collaborations and forming consortiums to foster the development of cutting-edge open-source platforms and services across diverse industries. A noteworthy exemplar of this trend materialized in November 2021 when Synechron, Inc., a prominent New York-based information technology and consulting firm, solidified its commitment to advancing open-source initiatives by joining the Fintech Open-Source Foundation. This collaborative endeavor seeks to amplify open-source synergies within the fintech sector, underscoring the industry’s collective pursuit of innovation and progress.
The open source services market report table of contents includes:
1. Executive Summary
2. Open Source Services Market Characteristics
3. Open Source Services Market Trends And Strategies
4. Open Source Services Market – Macro Economic Scenario
5. Open Source Services Market Size And Growth
…..
26. Africa Open Source Services Market
27. Open Source Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Open Source Services Market
29. Open Source Services Market Future Outlook and Potential Analysis
30. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global Open Source Services Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 4: Global Open Source Services Market, Segmentation By End-User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 5: Global Open Source Services Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
….
Table 45: IBM Financial Performance
Table 46: Wipro Financial Performance
Table 47: Accenture Financial Performance
Table 48: Evoke Technologies Financial Performance
Table 49: Cisco Systems Financial Performance
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