Open Source Services Market Growth & Trends
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.
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.
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Open Source Services Market Report Highlights
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
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