Global Open Source Services Market to Reach US$ 114.5 Billion by 2032, Stimulated by Continual Technological Innovations

August 28, 2023 | Technology & Media

According to the latest report by IMARC Group, titled “Open Source Services Market Report by Service Type (Professional Services, Managed Services), Organization Size (Large Enterprises, Small and Medium-sized Enterprises), Industry Vertical (BFSI, IT, ITeS, and Telecom, Retail and E-commerce, Healthcare and Life Sciences, Manufacturing, Education, and Others), and Region 2024-2032,” the global open source services market size reached US$ 30.5 Billion in 2023. Open source services refer to software or projects that are developed and distributed under an open-source license, allowing anyone to use, modify, and distribute the software's source code freely. These services play a crucial role in the world of technology and innovation. Open source fosters collaboration and community-driven development, enabling individuals and organizations to create, improve, and customize software solutions according to their specific needs. These encompass a wide range of applications, including operating systems, web servers, content management systems, and development frameworks. The open-source model promotes transparency, enabling developers to inspect, modify, and contribute to the codebase. This collaborative approach often results in robust, secure, and feature-rich software.

Global Open Source Services Market Trends:

The global market is primarily driven by technological innovation, cost-efficiency demands, and the collaborative nature of software development. Open source software, characterized by its transparency and accessibility, has gained substantial traction as businesses and organizations seek flexible and customizable solutions while minimizing licensing costs. Moroever, as organizations aim to streamline operations and deliver enhanced user experiences, they often turn to open source solutions that can be tailored to meet specific needs. This demand has led to an increase in demand for consulting, customization, integration, and support services provided by open source service providers. Furthermore, the cost-effectiveness of open source solutions cannot be overstated. By opting for open source software, organizations can significantly reduce licensing fees, which is particularly appealing for startups, small businesses, and developing economies. The need for seamless integration, maintenance, and troubleshooting has consequently given rise to a competitive landscape for open source service providers. Looking forward, the market value is projected to reach US$ 114.5 Billion by 2032, expanding at a CAGR of 15.8% during 2024-2032.

Market Summary:

  • Based on the service type, the market has been segmented into professional services (training and consulting, integration and implementation, and support and maintenance), and managed services. Currently, professional services represent the largest market segment.
  • On the basis of the organization size, the market has been divided into large enterprises and small and medium-sized enterprises. 
  • Based on the industry vertical, the market has been bifurcated into BFSI, IT, ITeS and telecom, retail and e-commerce, healthcare and life sciences, manufacturing, education, and others. Among these, IT, ITeS and telecom account for the largest market share.
  • Region-wise, the market has been segmented into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. Among these, North America holds the leading position in the market.
  • The competitive landscape of the market has also been examined, with some of the key players being Charter Global Inc., Chetu Inc, Cisco Systems Inc., Databricks Inc., Happiest Minds Technologies Limited, HashiCorp, Hewlett Packard Enterprise Company, Infosys Limited, International Business Machines Corporation, Nous Infosystems, Percona LLC, and Wipro Limited.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Service Types Covered
  • Professional Services: Training and Consulting, Integration and Implementation, Support and Maintenance
  • Managed Services
Organization Sizes Covered Large Enterprises, Small and Medium-sized Enterprises
Industry Verticals Covered BFSI, IT, ITeS, and Telecom, Retail and E-commerce, Healthcare and Life Sciences, Manufacturing, Education, Others
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Charter Global Inc., Chetu Inc, Cisco Systems Inc., Databricks Inc., Happiest Minds Technologies Limited, HashiCorp, Hewlett Packard Enterprise Company, Infosys Limited, International Business Machines Corporation, Nous Infosystems, Percona LLC, Wipro Limited, etc.
Customization Scope 10% Free Customization
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Global Open Source Services Market to Reach US$ 114.5 Billion by 2032, Stimulated by Continual Technological Innovations
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