Transformative Trends Impacting the OpenStack Service Market Landscape: Red Hat Inc. Unveils OpenStack Platform 17.1 For Enhanced Security And Advanced Use Cases

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How Large Will the OpenStack Service Market Size By 2025?
In recent times, there has been a significant increase in the size of the OpenStack service market. The market size, which stands at $16.63 billion in 2024, is predicted to rise to $21.27 billion in 2025, representing a compound annual growth rate (CAGR) of 27.9%. This growth experienced in the historical period can be linked to factors such as flexibility and customization, vendor neutrality, community support, and innovative and experimental practices.

How Big Is the OpenStack Service Market Size Expected to Grow by 2029?
Expectations are high for a significant surge in the market size of openstack services in the coming years. By 2029, this market is projected to expand to $55.72 billion, backed by a compound annual growth rate (CAGR) of 27.2%. Factors contributing to this growth in the forecast period include the integration of edge computing, AI and machine learning, containers and Kubernetes, and hybrid and multi-cloud strategies, along with improvements in data management and governance. The forecast period will also likely see major trends like AI-driven automation, progress in standardization and interoperability, the convergence of ecosystems, enhancements in regulatory compliance, and the development of industry-specific solutions.

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Which Key Market Drivers Powering OpenStack Service Market Expansion and Growth?
The open-stack service market is likely to be driven by the rising demand for hybrid and multi-cloud deployments. Hybrid clouds blend private and public cloud services, while multi-clouds involve the use of two or more public cloud services. The increasing popularity of these deployments is attributed to their flexibility, scalability, resilience, and cost-effectiveness that they provide to companies. By employing OpenStack with hybrid and multi-cloud deployments, companies can boost resource optimization by dynamically distributing workloads among various cloud environments, considering performance, cost, and regulation. As CloudZero Inc., a US-based cloud computing firm, reported in December 2023, most organizations opted for a hybrid cloud (39% vs. 36% last year) or a multi-cloud plan (33%) to take advantage of multiple services, ensure scalability or fortify business continuity. Moreover, four in five companies deploy two or more IaaS or PaaS suppliers. As a result, the growth of the open-stack service market is being fueled by the escalating demand for hybrid and multi-cloud deployments.

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Which Fast-Growing Trends Are Poised to Disrupt the OpenStack Service Market?
Leading firms in the OpenStack service market are dabbling in the creation of groundbreaking technologies like OpenStack Platform 17.1 in a bid to enhance their market profitability. Giving organizations a comprehensive and feature-laden cloud infrastructure platform, OpenStack Platform 17.1 assists in efficiently managing and deploying applications and services. As an example, Red Hat Inc., an American software firm, introduced OpenStack Platform 17.1, equipped with heightened security, in June 2023. The OpenStack Platform 17.1 from Red Hat Inc. specifically targets to back sophisticated use cases, incorporating open virtualized radio access networks (RAN), 5G standalone cores along with network, storage, and computing functionalities. The platform is designed to help service providers optimize their resources, accelerate their scaling processes, and connect their existing 4G investments to the latest 5G network infrastructures.

What Are the Emerging Segments in the OpenStack Service Market?
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

Subsegments:
1) By Services: Infrastructure As A Service (IaaS), Platform As A Service (PaaS), Cloud Management Services, Professional Services (Consulting, Support)
2) By Solutions: Private Cloud Solutions, Public Cloud Solutions, Hybrid Cloud Solutions, Storage Solutions

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Who Are the Global Leaders in the OpenStack Service Market?
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.

Which are the Top Profitable Regional Markets for the OpenStack Service Industry?
Europe was the largest region in the openstack service market in 2024. 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.

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