The global open source solutions market is anticipated to gain momentum seizing a market size of nearly USD 80 billion by 2028 at a robust CAGR of 25% during the forecast years 2018 to 2028. The rapid succession in the growth can be attributed to the affordability associated with the software licensing along with the growing ease of management. Growing need for adoption of higher quality, greater efficiency software with capabilities such as improved flexibility, reliability, security, and agility are increasing the appeal of software solutions and services.
The Open Source Solutions market is expected to grow at a CAGR of 17% to reach $60 billion in 2027.
Rapidly rising trends of open standards focused on supporting the collaborative development and community are among the major drivers enhancing the growth of the global open source solutions market. However, increasing security concerns associated with the open source solutions adding to the vulnerability of users is hampering the growth of the global open source solutions market during the forecast years.
Open source solutions are focused on entailing the significance of the open source technology facilitated through a broad spectrum of technology starting from a server to data integration software along with crucial business solutions such as customer relationship management (CRM) and big data. Open source solutions cater to specific customer needs and are customized accordingly with a company’s requirements in consideration.
These set of solutions are designed with basic offerings for instance traditional IT service offerings. Open source solutions significantly elevate the flexibility, convenience, and performance capabilities throughout companies and businesses with essential advantages such as enabling coders from diverse backgrounds to access and update routinely while working on the improvement of value and flexibility of code.
Open source solutions effectively facilitate several business processes such as data integration, management, project management, cloud management, and web content management. Businesses and companies benefit significantly through adoption of open source solutions with streamlined process management and in reducing the total cost of ownership.
Global open source solutions market players are well-established with a solid foothold in the market alongside the emerging industry players entering the market with a view of the disruption the conventional strategies and traditional management models applied at organizations. The rising threat of young market entrants along with the constant upgradation of the market with constant development in technologies has resulted in market consolidation.
The major players of the global open source solutions market are IBM, Oracle, Infosys, HCL, Red Hat, HPE, Cisco Systems, ATOS, SUSE, Databricks, Percona, Hashi Corp, ViSolve, Chetu, MuleSoft, Evoke Technologies and Accenture. The global open source solution market consists of large-scale local players well known with a solid establishment and the globally connected players. In addition, the previously studied market players are introducing novel strategies and highly advanced solutions and services with a view of remaining competitive in the global market.
Open Source Solutions Market Scope
|Revenue forecast in 2028
|USD 80 billion
|CAGR of 25% during 2021-2028
|Component service Type, End User, Regions
|North America, Europe, Asia Pacific, Middle East and Africa, South America
|Key Players Profiled
|IBM, Oracle, Infosys, HCL, Red Hat, HPE, Cisco Systems, ATOS, SUSE, Databricks, Percona, Hashi Corp, ViSolve, Chetu, MuleSoft, Evoke Technologies and Accenture
Key Segments of the Global Open Source Solution Market
Component service Type Overview, 2018-2028 (USD Billion)
- Managed Services
- Professional Services
End User Overview, 2018-2028 (USD Billion)
- Retail and Distribution
- Healthcare and Life Science
- IT & Telecommunication
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East & Africa
Reasons for the study
- Fundamental purpose of the study is to provide a comprehensive guide entailing key details of the global open source solution market offering you with crucial industry information.
- Provide you with competitive edge amidst the strategic initiatives and innovations by the leading market players to expand the market.
What does the report include?
- The study report on the global open source solution market comprises of broad list of deliverables including qualitative factors enlisting market drivers, restrains, opportunities and challenges
- The study also covers granular assessment of the competitive landscape of existing as well as prospective players in the open source solution market along with their strategic initiatives enhancing product development
- The study encompasses both qualitative and quantitative analysis of the several market segments derived based on the product type and end user with a similar analysis on key geographies of the global open source solutions market landscape
- Accurate market sizes and future forecasts have been incorporated for all the market segments mentioned above
Who should buy this report?
- The report on the global open source solution market provides a repository of industry relevant data and suitable findings for software service and solution providers, consumers across the industry vertical and other intermediaries
- Venture capitalists, private and public organizations looking for detailed information of the future scenario of the global open source solution market
- Consultants, software developers, technology experts, analysis and programmers looking for insights shaping the global open source solution market.
Frequently Asked Questions (FAQ) :
With rapidly escalating access and availability of open source platforms along with the surging tech-savy population driving the demand for next-generation technology software and solution and the advancing capabilities offering higher flexibility to modify the code are among crucial drivers enhancing the growth prospects of the global open source solution over the forecast years. In addition, higher costs associated with software packages are pushing companies and organization to replace them with an open source version.
A wide range of open source software solutions are distributed freely which allows businesses with a relatively cost-effective choice contributing to the anticipated growth of the global open source solution market over the forecast period. Additionally, the advanced capabilities of open source solutions such as higher flexibility and strong reliability is encouraging consumers to adopt open source solutions at a rapid pace. Complexities associated with licensing of software are effectively eliminated in open source software solutions as consumers are allowed to install these systems any time from any location ultimately relieving organizations from the need for monitoring and tracking licence compliance.
Component Type Segment
Based on the component, the market is split into managed services and professional services. The managed services segment that typically covers intrinsic business process management services is anticipated to register the most significant rise in CAGR over the forecast years. Managed services are fully equipped to offer the desired skillset in order to maintain and allow upgradation of solutions considered to be very essential components within an open source environment. Managed services effectively deal with the pre and post deployment concerns of clients satisfying their consumer needs thereby fuelling the growth of the segment over the forecast period.
End User Segment
In terms of end user, the market is fragmented into retail and distribution, manufacturing, retail and distribution, healthcare and life sciences, IT and telecommunication and BFSI. The healthcare and life science end user segment is expected to acquire a significant global revenue share over the forecast years owing to the increasing adoption of open source technologies realising the need for clinical decision support (CDS).
Besides, the manufacturing end user segment is also expected to project sustainable rise in the growth during the forecast period due to the growing adoption rate for improved production management, inventory management and planning as well as demand forecasting.
North America is likely to register a dominant growth in the revenue share during the forecast years primarily due to the strengthening infrastructure of the end user industries such as IT and telecommunication, healthcare and life science and the massively expanding retail sector. Burgeoning demand for open source solutions and extensive rise in the demand for technologically equipped solutions by the consumers to support aggressive management and production goals are stimulating the growth of the open source software solutions across the region.
With prevalence of developed economies such as the U.S. and Canada and a substantial rise in project initiatives to drive the development of solution capabilities are further encouraging the growth of the market in North America. Following the footsteps of the region is Asia Pacific expected to register a sustainable growth over the forecast period.