Press release
Open Source Services Market Analysis and Key Business Strategies 2022 by Top Companies - Evoke Technologies Pvt Ltd, Tieto, IBM, C AHEAD, Swan Solutions & Services Pvt. Ltd., FUJITSU, Infosys, Cisco Systems, ATOS, HCL, Red Hat, Hewlett Packard, and Oracle
Global Open Source Services Market is expected to grow from USD 11.40 Billion in 2017 to USD 32.95 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 23.65% during the forecast period (2017–2022).
Global Open Source Services Market Overview:
Open source services focus on the spectrum of open technologies, including server and server integration software, critical business solutions such as Big Data and customer relationship management. While the basic offerings are like traditional IT service offerings, open source services adapt to open source software. Free software retains its high quality by allowing many programmers from different origins, with different perspectives, to make periodic updates and improve the value and flexibility of the code. Open source services are used for business process management, data integration, cloud management, web content management and project management. Open source in cloud computing offers high compatibility with a range of products such as Cloudify and Cloud Foundry. In addition, it can also be used in software modelling tools and software development tools.
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Drivers and Restraints:
The open source services market is gaining popularity worldwide due to the increasing availability of different types of open source platforms, the increase in the knowledgeable population of technology and the flexibility to modify the code. These services allow users to interact and modify the source code. As more and more users can develop a code and make it more relevant, its relevance increases accordingly. In addition, open source management projects improve the capabilities of the company. Software such as Blender (3D modelling software), LibreCAD (2D CAD software) and SimPy automatically offer copyright protection benefits, allowing the developer to control the authorization to make copies of the derivatives. Open source services offer companies the benefits of better profitability and improved security and quality. The open source software does not include update costs, multi-user fees and administration fees. The adoption of open source services is increasing because it reduces operating costs and budgets while allowing more financial resources to be allocated to the useful commercial services associated with open source software, including training and support and personalized development. All of these factors should stimulate the open source services market during the forecast period.
However, developing an application from open source software (OSS) involves extensive integration work such as collaboration tools, data synchronization, automatic failover, data management, load balancing, etc. that can limit the market during the forecast period. For example, organizations must manage new software sources that contain commercial and non-commercial providers. These compliance standards constitute a major obstacle to the introduction of modern processes. Ignorance of specific open source services among small businesses limits the growth of the open source services market.
Segmentation:
Depending on the services, the open source services market can be segmented into implementation, consulting services, support services, maintenance and administration services, and training services. On the industrial front, the market for is segmented into IT and telecommunications, banking, financial services and insurance (BFSI), travel and hospitality, media and entertainment, retail, manufacturing and automotive, health and others. The demand for open source is increasing in business computing because it improves operational efficiency and the creation of value for the company. The geographic segmentation of the open source services market includes North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The growing adoption of big data and enterprise automation should stimulate growth in the open source services market in the coming years.
Key players active in the open source services market includes Evoke Technologies Pvt Ltd, Tieto, IBM Corporation, C AHEAD, Happiest Minds, Swan Solutions & Services Pvt. Ltd., FUJITSU, Infosys, Cisco Systems, ATOS, HCL Corporation, Red Hat, Hewlett Packard Enterprise, and Oracle Corporation.
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Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.
About Us:
Research Cosmos is a provider of standard and customized market research, business intelligence and consulting services across more than 100 domains in different industries of the world. We host the trending market reports of the world’s top-notch publishing companies, offering services to a wide range of customers from students to fortune 500 companies and discloses the hidden opportunities in every leading industry of the world.
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