Home Press Releases Open-Source Services Market Size Worth $120.53 Billion By 2032 | CAGR: 16.4%

Open-Source Services Market Size Worth $120.53 Billion By 2032 | CAGR: 16.4%

The global open-source services market size is expected to reach USD 120.53 billion by 2032, according to a new study by Polaris market research. The report “Open-Source Services Market Share, Size, Trends, Industry Analysis Report, By Service Type (Support, Maintenance, and Management Services, Training Services, Consulting Services, Implementation); By End-Use Industry; By Region; Segment Forecast, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Global distribution of open-source services is increasing due to the increasing availability of open-source platforms, the capacity to modify the code, and the growing number of innovators. All over the board, open-source services strongly emphasize open-source technologies. Open-source software is creative and relies on peer review and community development to use, modify, and distribute source code among users. Open-source software maintains its good quality by allowing a coder from various backgrounds and with different perspectives to have regular updates & to improve the code’s value.

 

Developers communicate and share information, thoughts, and code to independently and together generate more creative software solutions. In order to boost accessibility and reusability, this scalable & flexible software ensures that anybody with access to the source code can modify, enhance, & distribute it. Such software is based on the key ideas of peer development and broad participation in order to offer more sustainable software for end users.

 

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Furthermore, these open-source services provide enterprises with cost-effectiveness as well as better security and quality. The price of administration, multi-user fees, and upgrading was also lower with open-source software. For instance, in May 2022, the Linux Foundation & the Open-Source Software Security Foundation (OpenSSF) convened over 90 executives from the 37 corporations & government leaders from the NSC, ONCD, DOE, & OMB to establish an agreement on essential initiatives to strengthen the resilience & security of such software.

 

There has been an increase in demand for open-source service providers during the ongoing COVID-19 outbreak. In order to innovate and create fresh solutions to stop the spread of the virus by raising awareness, vendors in the industry are utilizing and growing open-source repositories that comprise datasets, models, visualizations, online and mobile applications, and more.

 

Open Source Services Market Report Highlights

  • In 2022, consulting services is expected to dominate the market. The key driver driving the market is the rising sophistication of organizations’ initiatives to raise developers’ awareness of Linux and other open-source software.
  • The manufacturing sector will dominate the market with a considerable revenue share in 2022. The manufacturing industry segment’s dominance can be attributed to the widespread use of production scheduling, inventory planning, and sales forecasting.
  • North America accounted for significant revenue in 2022. The key driver of the industry is the region’s rapid adoption of services as a result of technological improvements.
  • The global players include Accenture, Cisco System, SUSE, MuleSoft, Data bricks, ViSolve.Com, Hewlett Packard Enterprise, Infosys Limited, and Kubermatic.

 

Polaris Market Research has segmented the Open-Source Services Market report based on service type, vertical, and region:

 

Open Source Services, Service Type Outlook (Revenue – USD Billion, 2019 – 2032)

  • Support, Maintenance, and Management Services
  • Training Services
  • Consulting Services
  • Implementation

Open Source Services, End-Use Industry Outlook (Revenue – USD Billion, 2019 – 2032)

  • Banking, Financial Services, and Insurance (BFSI)
  • Healthcare and Life Sciences
  • Manufacturing
  • Retail and Distribution
  • Others

Open Source Services, Regional Outlook (Revenue – USD Billion, 2019 – 2032)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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