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Global Open Source Services Market (2021 to 2027) - by Type, Industry Vertical and Region - ResearchAndMarkets.com

·4-min read

DUBLIN, December 06, 2021--(BUSINESS WIRE)--The "Global Open Source Services Market By Type, By Industry Vertical, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.

The Global Open Source Services Market size is expected to reach $60 billion by 2027, rising at a market growth of 17% CAGR during the forecast period.

Key Market Players

  • IBM Corporation

  • Suse SA

  • Percona

  • Salesforce.com (Mulesoft)

  • Wipro Ltd.

  • Accenture plc

  • Evoke Technologies

  • Cisco Systems, Inc.

  • Infosys Limited

  • Hewlett Packard Enterprise

The term 'open source' refers to a kind of licensing agreement, which enables users to independently alter a work, combine work with big projects, use a work in different ways or develop a new work out based on the authentic. Open source helps in eliminating barriers among innovators, which encourage a free exchange of ideas inside a community to fuel scientific, creative, and technological advancements. The software industry is the most common user of open source; however, several professionals across different industries including electronics, biotech, robotics, fashion, and teaching, are using open source solutions.

Factors like increasing accessibility of open source platforms, growing tech-savvy population, and more flexibility to alter the code are increasing the popularity of open source services around the world. Open source services help customers to communicate and alter the source code. The relevance of these services has increased because several users can create a code in a better way and make it more purposeful. Moreover, open source management projects help in improving the enterprise capabilities. Software like LibreCAD (2D CAD software), Blender (3D modeling software), and SimPy, automatically provide various advantages owing to copyright protection, which is expected to provide the developer with better control over permission to create copies of the derivatives.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic has positively impacted the open source services market. The imposition of various restrictions like travel bans and lockdown, which has motivated companies to adopt open source services for advancing and innovating their products. In addition, the adoption of work from home culture due to the pandemic has created more complex challenges for companies to overcome. There are several companies that are increasingly adopting open source services to get a competitive edge and carry out the latest innovations.

Market Growth Factors:

Low cost of software licensing along with easy management

Replacing a paid software package with an open source version can help in cutting down the overall cost, which is very beneficial for enterprises. Several open source software products are freely shared, which makes them highly popular and thus, contributes to their high adoption rate. The open source software is not similar to closed proprietary software as it can be changed and extended by any developer across the world that is familiar with the source code.

More transparency with reliability is expected to support the market growth

Open source code provides full visibility into the code base and also enables all discussions regarding the way a community build features and tackles bugs. On the other hand, proprietary code generated in secrecy may bring unexpected restrictions, which are motivating companies to adopt open source services or solutions and hence, fueling the growth of the open source services market over the forecast period. By using open source services, companies can protect themselves from lock-in risks and thus, increase the reliability of the solutions, which is expected to surge the adoption of open source services and solutions.

Market Restraining Factor:

Open source services or solutions are more prone to malicious users

Open source provides numerous benefits but it is a threat to companies as well because open source services are also accessible to others, which increases the security risks of any company. In addition, security risks are the major challenges for the companies as users with malicious intentions can view the code and modify it for their benefit. There are several people who have access to the source code of any open source service, but not everyone has good intentions.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview

2.1 Introduction

2.1.1 Overview

2.1.1.1 Market Composition and Scenario

2.2 Key Factors Impacting the Market

2.2.1 Market Drivers

2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global

3.1 Cardinal Matrix

3.2 Recent Industry Wide Strategic Developments

3.2.1 Partnerships, Collaborations and Agreements

3.2.2 Product Launches and Product Expansions

3.2.3 Acquisition and Mergers

3.3 Top Winning Strategies

3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)

3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2017, Jun - 2021, Jun) Leading Players

Chapter 4. Global Open Source Services Market by Type

Chapter 5. Global Open Source Services Market by Industry Vertical

Chapter 6. Global Open Source Services Market by Region

Chapter 7. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/y81r9q

View source version on businesswire.com: https://www.businesswire.com/news/home/20211206005688/en/

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