Open Source Services Market Growing at a CAGR 18.2% | Key Player Suse, Percona, Mulesoft, Wipro, Accenture

Open Source Services Market Growing at a CAGR 18.2% | Key Player Suse, Percona, Mulesoft, Wipro, Accenture
IBM (US), SUSE (Germany), Percona (US), MuleSoft (US), Wipro (India), Accenture (Ireland), Evoke Technologies (US), Cisco Systems (US), Infosys (India), HPE (US), ViSolve (US), Chetu (US), HashiCorp (US), and Databricks (US)
Open Source Services Market with COVID-19 Impact, by Service Type (Professional Services and Managed Services), Vertical (Manufacturing, BFSI, Telecommunications, Healthcare and Life Sciences, IT & ITeS ), and Region – Global Forecast to 2026

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, to reach USD 50.0 billion by 2026 from USD 21.7 billion in 2021. Key factors that are expected to drive the growth of the market are lower software licensing cost and simpler management, compelling need to adopt higher quality software offering more flexibility, agility, and reliability, and rising trend of open standards that support community and collaborative development. These factors are driving the demand for open source services market.

Managed Services segment to hold a larger market size during 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 required skillsets to maintain and upgrade solutions, which are of utmost importance in open source environments. Pre- and post-deployment questions and needs of clients are taken care of through the managed services unit.

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Healthcare and Life Sciences industry vertical to grow at the highest CAGR during the forecast period

Healthcare and life sciences is one of the fastest-growing verticals with respect to the adoption of open source technologies and services due to advance 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 informaticists working together can design a CDS system that integrates organically with an organization’s clinical workflow. Modifications are more difficult with proprietary systems, since the source code is not accessible, and the organization must hire the vendor to execute changes. In addition to the flexibility of open-source solutions, open source has the advantage of benefitting from the input of many contributing physicians and organizations, as opposed to being developed by a single vendor team.

The open source services market comprises major providers, such as IBM (US), SUSE (Germany), Percona (US), MuleSoft (US), Wipro (India), Accenture (Ireland), Evoke Technologies (US), Cisco Systems (US), Infosys (India), HPE (US), ViSolve (US), Chetu (US), HashiCorp (US), and Databricks (US). The study includes an in-depth competitive analysis of key players in the open source services market with their company profiles, recent developments, COVID-19 developments, and key market strategies.

The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and enhancements, partnerships, mergers and acquisitions, have been the most dominating strategies adopted by the major players from 2019 to 2021, which helped them strengthen their offerings and broaden their customer base.

IBM is a leading cloud platform and cognitive solutions company. It was founded in 1911 and is headquartered in New York, US. In the open source services market, IBM provides a single source of support for community and commercial open source software, running on cloud, hybrid cloud, multi-cloud or locally deployed systems. These services are designed to meet the complex support challenges that arise in an interdependent, dynamic infrastructure and have the potential to resolve problems even before they occur. IBM offers subscriptions and support for all major distributions of Linux, including Red Hat, SUSE, and Ubuntu, as well as enhanced support for CentOS. Also, the company offers enterprise-class support for more than 150 community versions of open source software, as well as specialized advice on which open source support packages could be optimized or are best-suited for specific projects.

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SUSE was founded in 1992 and is headquartered in Nuremberg, Germany. SUSE is a global leader in innovative, reliable and enterprise-grade open source solutions. The company specializes in Enterprise Linux, Kubernetes Management, and Edge solutions, and collaborate with partners and communities to empower their customers to innovate everywhere –- from the data center to the cloud, to the edge and beyond. It accelerates business transformation through the power of open source software. In the open source services market, the company provides support services, consulting services, blended services, and training and certification.

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