Open Source Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026
Albany, NY -- (SBWIRE) -- 07/09/2018 -- Open source services offerings emphasize on open source technologies through the whole technology spectrum including servers to data integration software and critical business solutions such as Big Data, and customer relationship management. Though the basic offerings are like traditional IT service offerings, open source services are custom-made around the open source software. Open source software retains its high quality by allowing a large number of coders from different backgrounds with distinctive perspectives to make regular updates and improve the value and flexibility of the code. Open source services are used for business process management, data integration, cloud management, web content management, and project management. Open source in cloud computing offers high compatibility with a range of products such as Cloudify and Cloud Foundry. Besides, it can also be used in software modeling tools and software development tools.
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The open source services market is gaining traction across the globe due to the growing availability of open source platforms, increasing tech-savvy population, and flexibility to modify the code. These services enable users to interact and modify the source code. As more users can develop a code better and make it more purposeful, its relevance consequently increases. Furthermore, open source management projects enhance enterprise capabilities. Software such as Blender (3D modeling software), LibreCAD (2D CAD software), and SimPy, automatically offer benefits due to copyright protection, providing the developer control over permission to make copies of the derivatives. Open source services provide companies with the benefit of cost-effectiveness and enhanced security and quality. Open source software does not include upgrading costs and multi-user fees and administration fees. Adoption of open source services is increasing, as it supports financial savings of businesses by reducing operating costs and budgets, as well as enables allocation of more finances to beneficial enterprise services associated with OSS, including user training, support, and custom development. All these factors are anticipated to drive the open source services market during the forecast period.
However, developing an application from open-source software (OSS) components entails extensive integration work such as collaboration tools, data synchronization, automatic failover, data management, load balancing, etc. Furthermore, open source services face huge architectural and operational complexities which are expected to restrain the market during the forecast period. For instance, organizations must deal with new software sources which contain commercial and non-commercial vendors. Such compliance norms act as a major hurdle in introducing modern processes. Lack of awareness about specific open source services among various small enterprises is limiting the market growth.
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The open source services market is growing significantly due to the growing number of open source foundations and the expansion in open source licensing choices. The market for open source services can be segmented based on component, industry, deployment type, and geography. Based on services, the market can be segmented into implementation, consulting services, support, maintenance, and management services and training services. In terms of industry, the market is segmented into IT & telecommunication, banking, financial services & insurance (BFSI), travel & hospitality, media & entertainment, retail, manufacturing & automotive, healthcare, and others. Demand for open source is increasing in enterprise IT as it enhances operational effectiveness and business value formation. Geographical segmentation of the open source services market includes North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. Increasing adoption of big data and automation by companies is expected to drive the growth of the market.