Open Source Services Market Size Predicted to Increase at a Positive CAGR Of 23.65% from 2022 to 2031

Key Companies Covered in the Open Source Services Market Research are Accenture (Ireland), Wipro (India), IBM (US), Infosys (India), Cisco Systems (US), Atos (France), HCL (India), HPE (US), Oracle (US, and other key market players.

Open source adoption in organizations is expected to grow across all the IT segments to avail the flexibility and effectiveness in performing tasks with various benefits, such as reduced costs, accelerated time-to-market, and simplified Interoperability.

The global open source services market size is expected to grow from USD 11.40 billion in 2022 to USD 32.95 billion by 2031, at a Compound Annual Growth Rate (CAGR) of 23.65% during the forecast period. The reduction in the total cost of ownership and the increased return on investments are expected to be the major factors driving the growth of the open source services market. On the other hand, low security of open source software and high cost of integrating services are major restraints for the open source services market growth.

North America is expected to hold the largest market size in the open source services market by region during the forecast period.

North America is estimated to contribute highest market share in 2017, and is projected to lead the open source services market during the forecast period. The reason for the increasing growth is the initial adoption of developing technologies and the high investments in cloud-based solutions. The Europe, Middle East, and Africa (EMEA) region is also expected to witness considerable adoption of open source technologies. The enterprises in this region are expected to be one of the major driving forces in terms of developing open source services. Germany, Spain, and Italy are expected to be significant users of open source services, while Greece and the UK are anticipated to witness a low degree of adoption, when compared with other European countries.

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Manufacturing industry vertical is projected to hold the largest market size in open source service market by vertical during forecast period.

The manufacturing industry vertical is expected to lead in terms of open source services adoption, owing to production planning, inventory planning, and demand forecasting. The BFSI industry vertical is expected to eventually adopt open source services in investment and banking sector to reduce the IT investments.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.

The break-up of profiles of primary participants is given below as:

  • By company type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
  • By designation: C-level – 35%, Director level – 25%, and Others – 40%
  • By region: North America – 45%, EMEA – 20%, APAC – 30%, ROW – 5%

The open source services ecosystem comprises major vendors, such as Red Hat (US), Accenture (Ireland), Wipro (India), IBM (US), Infosys (India), Cisco Systems (US), Atos (France), HCL (India), HPE (US), Oracle (US).

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Research Coverage

The report includes in-depth competitive analysis of these key players in the open source services market, with their company profiles, recent developments, and key market strategies. The research report segments the open source services market by service type, vertical, and region.

Reasons to Buy the Report

The report on the global open source services market will help leaders/new entrants in the market in the following ways:

  • The report segments the open source services market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments. The market numbers are further split across various industry verticals and regions.
  • The report helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
  • This report will help stakeholders in better understanding the competitors and gaining more insights to better position their businesses. There is a separate section on competitive landscape, including competitor ecosystem, and mergers and acquisitions. Besides, there are company profiles of 10 major vendors in this market. This section provides market internals that can put companies ahead of the competitors.

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