OpenStack Service Market Demand, Analysis And Outlook 2024-2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

OpenStack Service Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $43.86 billion In 2028 At A CAGR Of 27.4% :

The OpenStack service market size has grown exponentially in recent years. It will grow from $16.21 billion in 2023 to $20.18 billion in 2024 at a compound annual growth rate (CAGR) of 24.31%. The growth in the historic period can be attributed to flexibility and customization, vendor neutrality, community support, and innovation and experimentation.

The OpenStack service market size is expected to see exponential growth in the next few years. It will grow to $43.86 billion in 2028 at a compound annual growth rate (CAGR) of 27.4%. The growth in the forecast period can be attributed to edge computing integration, AI and machine learning integration, containers and Kubernetes integration, hybrid and multi-cloud strategies, data management and governance. Major trends in the forecast period include ai-driven automation, standardization and interoperability, ecosystem convergence, regulatory compliance enhancements, and industry-specific solutions.

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OpenStack Service Market Major Segments
The openstack service market covered in this report is segmented -

1) By Component: Services, Solutions
2) By Deployment Model: On-Cloud, On-Premise
3) By End-User Industry: Information Technology, Telecommunication, Banking And Financial Services, Academic, Retail Or E-Commerce

Key Driver - Hybrid And Multi-Cloud Deployments Fueling OpenStack Service Market Growth

Increasing demand for hybrid and multi-cloud deployments is expected to propel the growth of the open-stack service market going forward. A hybrid cloud environment comprises private and public cloud services, while a multi-cloud model includes two or more public cloud services. The demand for hybrid and multi-cloud deployments is increasing due to their ability to offer flexibility, scalability, resilience, and cost-effectiveness to organizations. Hybrid and multi-cloud deployments with OpenStack enable organizations to optimize resource utilization by dynamically allocating workloads across different cloud environments based on performance, cost, and regulatory considerations. For instance, in December 2023, according to CloudZero Inc., a US-based cloud computing company, most organizations deployed a hybrid cloud (39% vs. 36% last year) or a multi-cloud strategy (33%) to leverage multiple services, achieve scalability, or support business continuity. Additionally, four out of five companies use two or more IaaS or PaaS providers. Therefore, the increasing demand for hybrid and multi-cloud deployments is driving the growth of the open-stack service market.

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Prominent Trend - Red Hat Inc. Unveils OpenStack Platform 17.1 For Enhanced Security And Advanced Use Cases

Major companies operating in the OpenStack service market are developing innovative technologies, such as OpenStack Platform 17.1, to increase their profitability in this market. OpenStack Platform 17.1 provides a comprehensive and feature-rich cloud infrastructure platform that organizations can use to effectively deploy and manage their applications and services. For instance, in June 2023, Red Hat Inc., a US-based software company, launched OpenStack Platform 17.1 with enhanced security. Red Hat Inc. Platform 17.1, in particular, aims to support advanced use cases, including open virtualized radio access networks (RAN), 5G standalone cores, and network, storage, and computing features. It is intended to assist service providers in maximizing their resources, scaling up more quickly, and bridging their current 4G investments with the newest 5G network infrastructures.

OpenStack Service Market Players
Major companies operating in the openstack service market are Dell Inc., Huawei Technologies Co. Ltd., IBM Corporation, Cisco Systems Inc. , Oracle Corporation, Hewlett Packard Enterprise Company, VMware Inc., NetApp Inc., Red Hat Inc., Rackspace US Inc., SUSE Software Solutions Germany GmbH, Canonical Ltd., Docker Inc., Nuage Networks, EasyStack Inc., Mirantis Inc., Bright Computing Inc., Trilio Data Inc., CloudFerro S.A., CloudEndure Ltd., Platform9 Systems Inc., Cloudscaling Group Inc., Piston Cloud Computing Co., Nebula Inc., Nexenta Systems Inc.

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Largest And Fastest Growing Region In The Market
Europe was the largest region in the openstack service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the openstack service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. OpenStack Service Market Report Structure
3. OpenStack Service Market Trends And Strategies
4. OpenStack Service Market - Macro Economic Scenario
5. OpenStack Service Market Size And Growth
…..
27. OpenStack Service Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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