Open Source Services Market Growth Outlook Through 2024-2033

Overview and Scope
Open source services refer to software for which the source code is made freely available and may be redistributed and modified according to the requirement of the user. OSS typically includes a license that allows programmers to modify the software to best fit the needs and control how the software can be distributed. Open source code is shared publicly. Anyone can access the repository to use the code independently or contribute to the improvements of the design and functionality of the project.

Sizing and Forecast
The open source services market size has grown exponentially in recent years. It will grow from $36.67 billion in 2023 to $44.98 billion in 2024 at a compound annual growth rate (CAGR) of 22.7%. The growth in the historic period can be attributed to emerging markets growth, the rising focus on digitizing business processes, increasing the it spending, and increasing big data and automation.

The open source services market size is expected to see exponential growth in the next few years. It will grow to $107.46 billion in 2028 at a compound annual growth rate (CAGR) of 24.3%. The growth in the forecast period can be attributed to rising the utilization of cloud computing, rising government support, and growing number of tech savvy people. Major trends in the forecast period include introduction of new open-source versions, launch of quantum-centric supercomputing, investing on artificial intelligence, technological advancements and product launches.

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Segmentation & Regional Insights
The open source services market covered in this report is segmented –

1) By Service Type: Professional Services, Management Services
2) By End-Use Industry: Banking, Financial Services And Insurance (BFSI), Telecom And IT, Manufacturing, Government, Healthcare, Retail, Other End-User

North America was the largest region in the open source services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the open source services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
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. For instance, according to a study published by Linux Foundation Consulting, clients using open system software save 20-55% over commercial solutions; these cost savings start with acquisition but extend to deployment, support, and maintenance. Reduced cost of ownership and time to market will drive the growth of the open source services market during the forecast period.

Key Industry Players

Major companies operating in the open-source services market report are IBM Corporation, Oracle Corporation, Hewlett Packard Enterprise, Accenture, Cisco Systems, Infosys, Salesforce.com, HCL, Atos Information Technology Incorporated, Wipro, Appsmith, Zilliz, Alibaba, Tencent, Endor Labs, Dgraph Labs, ToolJet, ValarDigital, 5ire, CivicDataLab, Swan Solutions & Services Pvt. Ltd., UCloud Information Technology, Mindee, Luos, Platform.sh, Strapi, PrestaShop, Bonitasoft, SensioLabs, draw.io, Sysdig, Giskard, Starburst, Bucharest DevOps Hackers Meetup, JSHeroes Meetups, SKB Kontur, Saleor Commerce, Tensor, Pachyderm, Rapid Silicon, Mirantis, SpiderOak, Eclipse Foundation, Appnovation, LifeRaft, PerfectlySoft Inc., BoxOfDocs, Cogdina, Sonatafy Technology, GoNet, Teravision Technologies, Extendo, ClickIT Smart Technologies, Altoros, Exoft, CodeNinja, Tuxdi, Flowing Code, Zarego, GitHub, Treeverse, flexiWAN, Linnovate, AeroBase Group, Inc., Foretold, OpenSource Intelligent Solutions (Pty) Ltd., Bridge IT Support, Axial Technologies (Pty) Ltd., Saturn Technologies, Data.world, Hope La Fleur Communications Networks, Green IT Web, Net Advertising Solutions

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. Global Open Source Services Market Size and Growth
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31. Open Source Services Market Other Major And Innovative Companies
32. Global Open Source Services Market Competitive Benchmarking
33. Global Open Source Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Open Source Services Market
35. Open Source Services Market Future Outlook and Potential Analysis
36.Appendix

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