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Open Source Services Market Growing at a CAGR 23.65% | Key Player Red Hat, Accenture, Wipro, IBM, Infosys

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Open Source Services Market Growing at a CAGR 23.65% | Key Player Red Hat, Accenture, Wipro, IBM, Infosys

April 22
07:26 2021
Open Source Services Market Growing at a CAGR 23.65% | Key Player Red Hat, Accenture, Wipro, IBM, Infosys

Red Hat (US), Accenture (Ireland), Wipro (India), IBM (US), Infosys (India), Cisco Systems (US), Atos (France), HCL (India), HPE (US), and Oracle (US).
Open Source Services Market by Service Type (Support, Maintenance and Management, Implementation, Consulting), Industry (Manufacturing, Healthcare and Life Sciences, Retail and Distribution), and Region – Global Forecast to 2022

Open source adoption in organizations is expected to grow across all the IT segments to avail the flexibility and effectiveness in performing tasks with various benefits, such as reduced costs, accelerated time-to-market, and simplified interoperability. The governments across the globe are encouraging the adoption of open source services for the public sector to provide an open platform for the vendor and buyer meets. Most of the adoption can be seen in North America, Europe, and some countries in the APAC region. Many enterprises are adopting open source technologies to gain the competitive advantage, flexibility, shorter development time, and to ensure the successful implementation of their roadmaps. MarketsandMarkets expects the Open Source Services Market to grow from USD 11.40 Billion in 2017 to USD 32.95 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 23.65%, during the forecast period (2017–2022).

The rapid adoption of open source services in North America is expected to drive the regional market during forecast period.

North America is estimated to hold the largest market size in 2017, and the region is expected to dominate the market during the forecast period. Enterprises are adopting open source services. In fact, they are using open source services for their specific requirements. They are developing open source solution strategies for 5 major reasons: cost, support, flexibility, community, and the platform.

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Globally, the manufacturing industry vertical is expected to lead in terms of open source services adoption.

The manufacturing industry vertical is expected to dominate the open source services market by vertical during the forecast period. The manufacturing companies would continue to adopt open source services, primarily for production planning, inventory planning, and demand forecasting.

Open source services include consulting services, implementation, support and management services, and training services. Major vendors of open source services include Red Hat (US), Accenture (Ireland), Wipro (India), IBM (US), Infosys (India), Cisco Systems (US), Atos (France), HCL (India), HPE (US), and Oracle (US). They hold more than half of the market share of the overall open source services market.

Red Hat works with many open source management projects to innovate and offer enterprise capabilities for orchestration and automation, along with configuration and identity management, all 100% open source. The company has implemented both organic (new product launches) and inorganic growth strategies (partnerships) to further strengthen its position in the market. For example, in October 2017, Red Hat partnered with Alibaba Cloud to strengthen its customer base by building global cloud customers. In June 2017, Red Hat introduced industry’s first production-ready fully open source Red Hat HCI solution. This solution would integrate storage and compute to help enterprises bring data center capabilities into limited area locations, such as branch offices.

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Accenture’s strategy and delivery services for open source include opportunity assessment for open source (a structured strategic roadmap to help its clients) and governance for open source (control and management of open source within an enterprise). To further grow in the open source services market, Accenture adopted inorganic growth strategies, such as partnerships and acquisitions. For instance, in June 2017, Accenture partnered with Microsoft to build the Decentralized Identity Foundation (DIF) to develop an open source ecosystem for online entities by leveraging the blockchain. In July 2017, Accenture acquired Tecnilogica, a Spain-based company specializing in the use of emerging open source technologies, to build omni-channel digital solutions for mobile, web, touchscreens, wearables, and IoT-enabled devices.

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