According to the latest report by IMARC Group, titled "OpenStack Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global OpenStack service market reached a value of US$
4.7 Billion in 2021. OpenStack refers to a cloud operating system that allows users to effectively plug, access, and modify components. It is mainly deployed as infrastructure-as-a-service (IaaS) in both private and public cloud, wherein virtual servers and other data are made available through common authentication mechanisms. OpenStack comprises various services, such as networking and shared files, and object and block storage. These elements can be utilized for web interface and hosting, conducting complex data projects, and delivering software-as-a-Service (SaaS). OpenStack offers on-demand services, high efficiency and flexibility, increased agility, and resource pooling to medium and large enterprises. On account of these benefits, it finds extensive application in the manufacturing, telecommunication and energy industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global OpenStack Service Market Trends:
The global OpenStack service market is primarily being driven by the widespread adoption of cloud-based and internet-enabled services by enterprises. Additionally, the increasing demand for big data analytics, the emerging trend of bring your own device (BYOD) in workplaces and the escalating sales of smartphones are catalyzing the market growth. Moreover, OpenStack is a cost-effective digital solution that helps organizations to maintain operational effectiveness and increase profitability. Due to this, it is being extensively deployed across telecom verticals and small and medium-sized enterprises (SMEs). Furthermore, technological advancements in the OpenStack infrastructure are providing lucrative opportunities for heterogeneous enterprises that require enhanced speed and developer experience, thereby creating a positive outlook for the market further. Looking forward, the market is expected to grow at a CAGR of 27.4% during 2022-2027.
- Based on the component type, the market has been bifurcated into solution and services.
- On the basis of the organization size, the market has been divided into large, medium, and small enterprises.
- Based on the platform, the market has been segmented into public cloud, private cloud, and hybrid.
- On the basis of the application, the market has been classified into BFSI, government and defense, information technology, telecommunication, academic and research, retail and e-commerce, manufacturing, and others.
- On the geographical front, the market has been categorized into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Bright Computing Inc., Canonical, Cisco Systems Inc., Dell Technologies Inc, Hewlett Packard Enterprise, IBM, Mirantis Inc., Oracle Corporation, Rackspace Inc., Red Hat Inc., SUSE, VMware Inc., etc.
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