Worldwide Open Source Service Industry to 2026 – Reduced Cost of Ownership and Time to Market is Driving Growth – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Open Source Service Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The Open Source Service Market is expected to reach a CAGR of 24.2% during the forecast period (2021-2026).
Factors such as a reduction in the total cost of ownership and the increased return on investments are expected to drive the market’s growth. On the contrary, the low security of open source software and the high cost of integrating services are major growth restraints.
Companies Mentioned
- Accenture PLC
- Oracle Corporation
- Cisco Systems, Inc.
- Open Source Services
- HCL Technologies
- Hewlett Packard Enterprise Company
- IBM Corporation
- Infosys Limited
- Wipro Limited
- ATOS SE
Key Market Trends
Emphasis on Reduced Cost of Ownership and Time to Market is Expected to Drive the Market Growth
- Companies can save on operational and implementation costs by using open source solutions. For revenue generation, vendors in the open-source market are charging for add-ons. Still, even after paying for add-ons and services for security hardening, and help to manage interoperability, these products are usually much cheaper than closed source alternatives. Moreover, they offer 24*7 support from vendors to provide services right from consulting to training, implementation, and maintenance. This fulfills the need to solve issues quickly, ensuring optimum efficiency to the customers.
- Moreover, The use of permissive open-source licenses has continued to rise, while usage of copyleft licenses, and the GPL-family in particular, continues to decrease. Permissible licenses impend minimal restrictions on software users. Software under these licenses can be incorporated into the other proprietary software without disclosing the source code. This newly created software may be distributed, which saves a lot of cost and time and contributes to the growth of the open-source service market.
- According to WhiteSource Software, a provider of security, compliance, and reporting solutions for managing open source components, 67% of open source components have permissive licenses. That’s a 3% rise from last year’s 64%. Only 33% of the top 10 most popular open-source licenses are copyleft, compared to 36% last year and 59% in 2012. The numbers show that developers and organizations continue to prefer permissive licenses.
North America is Expected to Hold Major Share
- The region is witnessing growth in the open-source service market due to prominent market players such as IBM Corporation, Redhat, Oracle Corporation, and the high adoption rate of new technologies. Moreover, the increased investment in cloud technology is expected to drive the growth of the open-source service market.
- Open source is becoming increasingly interdependent, wherein North American developers have long played an essential part in fostering open source development. Developers living in the US remain the single largest group of contributors since 2014, the number of open source contributions, according to GitHub’s State of the Octoverse 2019 report. This indicates the increased level of open source adoption across the region, hence its adoption across vendors in the area.
- Furthermore, the increased adoption of open source services by various end-user industries in the region boosts the growth of the market. For instance, Zymr is a full-stack cloud software development company headquartered in Silicon Valley that uses agile development practices and open source technologies to deliver fit-for-purpose software that scales with customers” business needs. With integrated Cloud, Cybersecurity, DevOps, etc. competencies, Zymr operates as a one-stop technology partner for enterprises seeking to develop or leverage their existing core IP.
- Moreover, Royal Bank of Canada (RBC) and its AI research institute Borealis AI have partnered with Red Hat and NVIDIA to develop a new AI computing platform designed to transform the customer banking experience and help keep pace with rapid technology changes and evolving customer expectations. Red Hat OpenShift and NVIDIA’s DGX AI computing systems power this private cloud system that delivers intelligent software applications and boosts operational efficiency for RBC and its customers.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness – Porter’s Five Forces Analysis
4.3 Assessment of Impact of COVID-19 on Open Source Services Market
4.4 Market Drivers
4.4.1 Reduced Cost of Ownership and Time to Market
4.4.2 Interoperability and Flexibility in Terms of Customization
4.5 Market Restraints
4.5.1 Security Issues
5 MARKET SEGMENTATION
5.1 By Service Type
5.2 By End-user Industry
5.3 Geography
6 COMPETITIVE INTELLIGENCE
6.1 Company Profile
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/far0wo
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