Open Source Services Market to witness CAGR of 23.65% during 2017-22

0
1766
Advertisement

Open source adoption in organizations is expected to grow across all the IT segments. According to a new market research MarketsandMarkets report “Open Source Services Market by Service Type, Industry, and Region – Global Forecast to 2022″, is expected to grow from USD 11.40 Billion in 2017 to USD 32.95 Billion by 2022.

The industry is significantly availing the flexibility and effectiveness in performing tasks and benefits, such as reduced costs, accelerated time-to-market, and simplified interoperability. As per the report, the services market (open source) is expected to witness a Compound Annual Growth Rate (CAGR) of 23.65% during the forecast period (2017-2022).

Leaving no stone unturned, the report takes care of the market by the service type (Support, Maintenance and Management, Implementation, Consulting), Industry (Manufacturing, Healthcare and Life Sciences, Retail and Distribution), and Region. The reduction in the total cost of ownership and the increased return on investments are expected to be the major factors driving the growth of the Open Source Services Market.

The rapid adoption of open source services in North America is expected to drive the regional market during forecast period.  Enterprises are adopting in fact, they are using open source services for their specific requirements. They are developing open source solution strategies for five major reasons: cost, support, flexibility, community, and the platform.

Advertisement

Globally, the manufacturing industry vertical is expected to lead in terms of open source services adoption.  The manufacturing companies would continue to adopt open source services, primarily for production planning, inventory planning, and demand forecasting.   Read more…

Advertisement

LEAVE A REPLY

Please enter your comment!
Please enter your name here