MarketsandMarkets forecasts the global OSS market to grow from an estimated value of USD 25.6 billion in 2022 to 54.1 billion USD by 2027 at a compound annual growth rate (CAGR) of 16.2%. Lower cost of ownership of the software and the emergence of new technologies such as Iot and cloud are some factors driving the OSS market growth.
What is OSS?
MarketsandMarkets defines OSS as “services used by organizations for IT infrastructure modernization, application development, and DevOps by using open source technologies to achieve strategic IT goals. Open source services are often provided in the form of professional and managed services, which are tailored as per the open source solutions. These services help organizations solve complex infrastructure challenges and provide the lowest Total Cost of Ownership (TCO)."
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The OSS market is led by globally established players such as IBM (US), Accenture (Ireland), Mulesoft (US), Wipro (India), Databricks (US), Suse (Germany), Cisco (US), Infosys (India), and others. These players have adopted various growth strategies such as partnerships, agreements, collaborations, acquisitions, and product developments to increase their market presence.
IBM is a leading cloud platform and cognitive solutions company. It was founded in 1911 and is headquartered in New York, US. IBM focuses on strengthening its product portfolio by launching new and advanced solutions in five categories: analytics, data, cloud, security, and AI. It helps customers streamline business processes and enhance data-driven decision-making capabilities. The combination of the Internet of Things (IoT) and social media continuously generate vast amounts of data that must be collected, organized, and analyzed. Customers need to unlock the potential of this data to accelerate decision-making, reduce operational costs, and gain a competitive advantage. Open source-based databases enable companies to leverage the vast amount of data generated more cost-effectively. Further, it offers a broad product portfolio that includes Analytics, Intelligent Automation, Cloud Computing, Blockchain, Business Operations, IT Infrastructure, Mobile Technology, Security, Software Development, and Supply Chain Management.
In the open source services market, IBM provides a single source of support for community and commercial open source software running in the cloud, hybrid cloud, multi cloud, or locally deployed systems. These services are designed to meet the complex support challenges that arise in an interdependent, dynamic infrastructure and have the potential to resolve problems even before they occur. IBM and DataStax have partnered to provide additional development tools and capabilities to support modern data applications globally. For instance, Apache Cassandra is an open source distributed NoSQL database designed to handle large volumes of data. It is highly scalable, provides high availability, and has no point of failure. IBM offers subscriptions and support for all major distributions of Linux, including Red Hat, SUSE, and Ubuntu, as well as enhanced support for CentOS. The company also offers enterprise-class support for more than 150 community versions of open source software, as well as specialized advice on which open source support packages could be optimized or are best suited for specific projects.
IBM caters to various verticals, including automotive, telecommunications, financial services, healthcare, aerospace and defense, education, manufacturing, energy and utilities, media and entertainment, travel and transportation, insurance, life sciences, retail, and consumer goods. It nurtures an ecosystem of 160,000 global business partners operating in more than 171 countries. IBM research constitutes the largest industrial research organization in the world, with 12 labs across six continents spread across the Americas, Europe, Middle East & Africa, and Asia Pacific.
Apart from large vendors, some SMEs, and start-ups, such as Charter Global (US), ViSolve (US), Chetu (US), and Evoke Technologies (US), among others, are also evolving in the OSS market.
Evoke Technologies was founded in 2003 and is headquartered in Ohio, US. It is a global information technology services company offering innovative software development, IT outsourcing, and IT consulting services. Evoke Technologies has been helping enterprises adopt open source technologies to achieve their strategic IT goals. With its open source solutions, the company enables enterprises to minimize the cost of application development. Further, its open source services help enterprises improve productivity and performance and maximize efficiency. With a promising team of highly skilled software developers and technology experts, the company helps clients quickly adapt to change using the latest open source technologies. The team is highly experienced in building complex software applications using emerging open source technologies across verticals.
Open Source Services Market by Service (Professional Services, Managed Services), Organization Size (Large Enterprises, SMEs), Vertical (IT and ITeS, Healthcare and Life Sciences, Education, Retail and eCommerce) and Region - Global Forecast to 2027
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