Open Source Services Market to be Worth $83.87 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, May 9, 2023 /PRNewswire/ -- The global open source services market size is expected to reach USD 83.87 billion by 2030, growing at a CAGR of 16.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The trend of DevOps, which emphasizes collaboration, automation, and continuous delivery of software, is driving growth. DevOps teams often use open source tools and platforms to streamline development workflows and improve efficiency, leading to increased demand for open source services. In addition, the growth of the Internet of Things (IoT) has created new opportunities for open source providers, as IoT devices and applications rely heavily on open source software for connectivity and interoperability.

Key Industry Insights & Findings from the report:

• The integration & deployment segment dominated the market due to the need for expert assistance in the seamless integration and deployment of open source solutions with existing IT infrastructure.
• The hybrid segment dominated the market due to the growing demand for hybrid cloud solutions that offer the flexibility of cloud computing while addressing concerns over data privacy, security, and compliance.
• The BFSI segment is anticipated to grow at a significant pace during the forecast period, due to the need for secure and reliable open-source solutions that can address the industry's complex regulatory requirements and protect sensitive financial data.
• The small & medium enterprises segment is expected to grow at a significant CAGR over the forecast period, due to the rising awareness of the benefits of open-source solutions, such as flexibility, customization, and innovation, and the availability of specialized services tailored to SMEs' unique needs and budget constraints.
• The Asia Pacific region is expected to experience rapid growth. The region has a highly diverse market, with many different languages, cultures, and industries, providing ample opportunities for companies to develop and market open source solutions across a wide range of applications.

Read full market research report, "Open Source Services Market Size, Share & Trends Analysis Report By Services (Integration & Deployment, Training & Consulting, Managed Services), By Deployment, By Application, By End-user, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Open Source Services Market Growth & Trends

There has been a noticeable trend of adopting permissive open-source licenses in contrast to copyleft licenses, particularly those in the General Public License (GPL) family, which have decreased in usage. Permissive licenses impose minimal restrictions on software users, allowing them to incorporate the software into proprietary applications without disclosing the source code. This has contributed to the growth of the open source services industry, as the software can be distributed and reused more easily, thereby reducing both cost and time. As a result, permissive licenses are becoming increasingly popular, highlighting the importance of flexibility and adaptability in the software industry.

As technology continues to advance, more and more businesses are turning to open source systems for a range of purposes, including application development, IT infrastructure modernization, integration, and digital transformation. For instance, In May 2022, the fourth annual report, The State of Enterprise Open Source, by Red Hat, revealed that 95% of the 1,296 IT leaders surveyed from 14 countries believe that enterprise open source is crucial for their organization's overall infrastructure. The study also indicates that the increasing adoption of hybrid cloud and edge computing will lead to a further rise in this percentage, making open source even more significant.

The COVID-19 pandemic has led to an increased focus on innovation and digital transformation across all industries. This has created new opportunities for open source providers as businesses seek solutions that can help them navigate the evolving technological landscape. With the pandemic accelerating the adoption of digital technologies, commercial open source services applications, and services have become an increasingly attractive option for companies looking to modernize their IT infrastructure and improve their digital capabilities.

Open Source Services Market Segmentation

Grand View Research has segmented the global open source services market based on services, deployment, application, end-user, and region:

Open Source Services Outlook (Revenue, USD Million, 2017 - 2030)

• Integration & Deployment
• Training & Consulting
• Managed Services
• Support & Maintenance

Open Source Services Market - Deployment Outlook (Revenue, USD Million, 2017 - 2030)

• Cloud
• Hybrid
• On-premise

Open Source Services Market - Application Outlook (Revenue, USD Million, 2017 - 2030)

• BFSI
• IT & ITeS
• Telecommunication & Media
• Industrial
• Retail & E-commerce
• Others

Open Source Services Market - End-user Outlook (Revenue, USD Million, 2017 - 2030)

• Large Enterprises
• Small & Medium Enterprises

Open Source Services Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• Kingdom of Saudi Arabia (KSA)
• UAE
• South Africa

List of Key Players in the Open Source Services Market

• Red Hat, Inc. (IBM)
• MuleSoft (Salesforce, Inc.)
• Amazon Web Services, Inc. (Amazon)
• Databricks
• HashiCorp
• Alphabet, Inc. (Google)
• Cisco
• Microsoft
• Oracle
• SAP SE

Check out more market research studies published by Grand View Research:

• Cloud Database And DBaaS Market - The global cloud database and DBaaS market size is anticipated to reach USD 49.78 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 16.3% from 2023 to 2030. The global market is expected to experience growth in the forecast period due to the surge in demand for business agility and the widespread adoption of automation solutions. The market growth will also be driven by the rising need for faster and easier application deployment using a pay-as-you-go model, along with the increasing trend of integrating cloud-based database migration in business operations. The migration of databases to the cloud allows organizations to align their IT investments more effectively with business needs, while also reaping the efficiency benefits that come with cloud economies of scale.
• Open Banking Market - The global open banking market size is expected to reach USD 135.17 billion by 2030, growing at a CAGR of 27.2% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. The global open banking market is expanding as a result of favorable government legislation, improved overall customer involvement made possible by open banking APIs, and an increase in the adoption of innovative applications and services. In addition, the relocation in the focus of retail banks toward consolidated technological enhancements also bodes well with the market's growth
• Multi-cloud Management Market - The global multi-cloud management market size is estimated to reach USD 56.02 billion by 2030, growing at a CAGR of 28.0% from 2023 to 2030, according to a new study by Grand View Research, Inc. The strong emphasis organizations are putting on automation and efficiency, and subsequently on having effective governance processes in place, is expected to drive the adoption of multi-cloud management solutions over the forecast period. Growing concerns over the reliability of a single cloud are also anticipated to play a decisive role in driving the adoption of multi-cloud management solutions. However, concerns over data security and privacy protection coupled with the hardships encountered in redesigning the network for cloud-based infrastructure can restrain the growth of the market.

Browse through Grand View Research's  Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.