Cost affordability with the exclusion of upgrading costs, multi-user fees or even administration fees is anticipated to expand opportunities for the global open source solution market
The global open source solution market is gaining substantial traction owing to the ease of business process management offered with highly flexible and agile adoption and implementation of open source software leading to a forecast projecting estimated CAGR growth of 25% throughout the forecast years 2018 to 2028.
Open source software solutions offer an array of technology services to enhance various business process and day-to-day functions across diverse organisations such as training services, consultancy services, management and maintenance amalgamated under managed and professional services.
Open source software solutions are customized specifically to target and meet consumer’s specific administrative and management needs with advantages for coders to access and update the software solutions adding value to the performance and efficiency of the code. Open source solutions also allow easy and streamlined execution of several crucial processes such as data integration, cloud management and clinical workflow, project management and web content management.
Current industry growth curve and the future progress of the global open source solutions are sketched out to trace through the market attractiveness along with the significance of emerging trends. The key factors influencing the growth of the global open source solution market primarily highlight the foreseeable opportunities throughout the forecast period. Major growth inducing variables such as lower costs of software licensing and efficient management with adoption of superior quality software solutions proposing advanced capabilities in integrating a flexible and reliable system.
This is also coupled with the increasing open standard trends in support community development and collaborative development are propelling the growth of the global open source solutions market. increasing demand for technologically advanced software solutions and services with affordable packages and ease of installation across manufacturing and IT and telecommunication industries are further fuelling the growth of the global open source solution market during the forecast period.
Adroit Market Research report on the global open source solution market delivers a comprehensive and insightful review of the market from 2018 to 2028 encompassing critical aspects such as the primary drivers, restrains, trends, challenges and opportunities. The sequential analysis of the market starts from the historic assessment from 2018 to 2020 standardising 2020 as the base year of evaluation followed by the forecast estimations throughout the years 2021 to 2028.
The research article covers current status along with the future prospects and trends assessed at global and country level. Also, the study delivers in-depth analysis based on Porter’s five forces analysis further positioning the prominent players operating the global open source solutions market based on the geographic footprint, revenue generated, product portfolio and strategic initiatives.
The open source solution market displays a fierce competition among the well-established historic players and the new players. also, the open source solution industry players are pursuing untapped potential marketspace with the objective of gaining competitive lead against other industry player with the help of agreements and deals, mergers, acquisitions, collaborations and partnership with other market entities for expanding business presence.
Based on the Component Type Segment, the market is split into managed services and professional services where the managed service solution typically focus on day-to-day functionalities whereas professional solutions typically focus on occasional requirements and process needs. The managed services segment is anticipated to register higher CAGR during the forecast owing to the critical utility significance of the solution type in catering to the needs and concerns of the clientele.
North America is estimated to lead the global open source solution revenue share over the forecast years primarily due to the burgeoning demand for high-quality and superior-performance capabilities solutions. With early adoption of cloud services and massively expanding online retail sector are encouraging advancements in software services and open source solutions therefore accelerating the growth of the open source solutions market over the forecast across the region.
With a solid IT and telecommunications sector across the U.S. and an advancing healthcare and life sciences industry, North American open source solutions market is expected to witness substantial rise in growth over the forecast. Asia Pacific is likely to follow North America in terms of revenue growth.
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 open source solutions market comprises of well-established local market players placed right next to international players. Additionally, the recognized market players are coming with a suit of new strategies and highly advanced services and solutions to retain competitive advantage in the global environment.
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