Home Source code Global open source services industry set to reach $ 50 billion by...

Global open source services industry set to reach $ 50 billion by 2026 – ResearchAndMarkets.com

6
0

DUBLIN – (COMMERCIAL THREAD)–The “COVID-19 Impact Open Source Services Market, By Service Type (Professional & Managed Services), Vertical (Manufacturing, BFSI, Telecommunications, Healthcare & Life Sciences, IT & ITeS) & Region – Global Forecast until 2026 “ report was added to ResearchAndMarkets.com offer.

The analyst estimates that the global open source services market size is expected to grow at a compound annual growth rate (CAGR) of 18.2% during the forecast period, reaching USD 50.0 billion by 2026 against 21.7 billion USD in 2021.

The impact of COVID-19 on the global open source services market

The pandemic has had a positive impact on the open source services market. The COVID-19 pandemic and the proliferation of remote working environments have created new and complex hurdles for businesses to overcome. Adopting new business strategies or implementing new technologies is a proven path to growth. More and more, open source technology is being chosen as organizations seek competitive advantage and the latest innovations. The percentage of open source software continues to increase year on year. The latest economic downturn is only accelerating a trend that was occurring long before the arrival of the COVID-19 pandemic.

Managed Services Segment Expected To Grow At A Higher CAGR Over The Forecast Period

Based on services, the open source services market is segmented into two categories: professional and managed. The managed services segment for open source services is expected to grow at a higher CAGR, as managed services provide all the skills required to maintain and upgrade solutions, which are of the utmost importance in open source environments. Pre- and post-deployment issues and customer needs are taken care of by the Managed Services Unit.

Healthcare and Life Sciences vertical to hold highest market share in 2021

Healthcare and Life Sciences is one of the fastest growing verticals in the adoption of open source technologies and services through Advanced Clinical Decision Support (CDS) . Using open source to advance CDS makes sense for a number of reasons. By its very nature, an open source solution is easier to modify. Because the source code is accessible, clinicians and IT professionals working together can design a CDS system that organically integrates into an organization’s clinical workflow. Changes are more difficult with proprietary systems because the source code is not accessible and the organization must engage the vendor to perform the changes. In addition to the flexibility of open source solutions, open source has the advantage of benefiting from the contribution of many contributing physicians and organizations, rather than being developed by a single team of vendors.

APAC is expected to grow at the highest CAGR during the forecast period

Asia Pacific has witnessed the advanced and dynamic adoption of new technologies and is expected to register the highest CAGR during the forecast period. In addition, the IT spending of organizations in the region is gradually increasing, which is expected to lead to increased adoption of open source software solutions and services. China, Japan and India are the leading countries in terms of adoption of open source software solutions and services in the region. While spending on technology solutions in APAC has increased, a decline is being observed due to the recent COVID-19 pandemic. The COVID-19 pandemic makes it more urgent for APAC business leaders to increase their rate of cloud adoption and digital transformation. In addition, the current pandemic has forced the APAC government and public sector to embrace digital innovation and meet regulatory compliance standards, creating huge market opportunities for open service providers. source.

Market dynamics

Conductors

  • Reduced software license costs and simplified management

  • Strong need to adopt better quality software offering more flexibility, agility and reliability

  • Growing trend of open standards that support community and collaborative development

  • Simple bug removal and tracking and no vendor blockages

  • Abundant support from community and open source service providers

Constraints

  • Vulnerability to malicious users restricting adoption of open source software products

  • Initial free open source products may later request licensed software, increasing hidden costs

Opportunities

  • Stimulate innovation and cultivate better learning

  • Growing trend to extend technical support and maintenance from open source service providers

  • Growing adoption of open source cloud technology

Challenges

  • Open source software products are sometimes not as user-friendly as the commercial versions

  • Compatibility issues with current applications

Companies mentioned

  • Accent

  • Chetu

  • Cisco Systems

  • Data bricks

  • Talk about technologies

  • Hashicorp

  • HPE

  • IBM

  • Infosys

  • Mulesoft

  • Percona

  • Susa

  • Visolve

  • Wipro

For more information on this report, visit https://www.researchandmarkets.com/r/md50fo


Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here