IMARC Group, a leading market research company, has recently released a report titled “OpenStack Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global openstack service market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the OpenStack Service Market?
The global openstack service market size reached US$ 6.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.3 Billion by 2028, exhibiting a growth rate (CAGR) of 26.7% during 2023-2028.
What is OpenStack Service?
OpenStack is a comprehensive open-source platform for cloud computing, typically deployed as infrastructure-as-a-service (IaaS). It offers a rich set of tools to manage and automate pools of compute resources, storage, and networking within a data center. OpenStack's modular design is characterized by its flexibility, allowing users to plug in their own components as needed to tailor a private or public cloud environment to their specific requirements. Key features of OpenStack include its scalability, enabling organizations to manage large volumes of compute instances; and its multi-tenancy support, ensuring resources are isolated and secure for different users or groups. Its compatibility with popular enterprise and open-source technologies makes OpenStack a versatile choice for organizations seeking to avoid vendor lock-in, while fostering an innovative cloud ecosystem.
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What are the Growth Prospects and Trends in the OpenStack Service Industry?
The push towards digital transformation is one of the primary drivers of market growth for OpenStack services. Moreover, the flexibility of OpenStack, alongside the advancements in cloud technology, is a significant factor spurring its adoption. In tandem with this, OpenStack's open-source nature is facilitating innovation, enabling intricate customization to align with diverse business needs and processes. Besides this, the integration of modern technologies such as container orchestration tools and artificial intelligence within OpenStack environments is revolutionizing the capabilities of cloud infrastructures, catering to a broad spectrum of industrial requirements.
Moreover, developers are actively engaging in OpenStack communities, contributing to the enhancement of its scalability and reliability. This collaborative effort is streamlining the deployment and management of both public and private clouds, driving the growth of the OpenStack market. Furthermore, companies are investing substantially in research and development initiatives to refine OpenStack's service components, enhancing both the functionality and user experience. This focus on continual improvement is solidifying OpenStack's position as a competitive and adaptable cloud service solution, thus fostering its expansion across the globe.
Who are the Key Players Operating in the OpenStack Service Market?
The report has also analysed the competitive landscape of the market with some of the key players.
- Computing Inc.
- Canonical
- Cisco Systems Inc.
- Dell EMC
- Hewlett Packard Enterprise
- IBM
- Mirantis Inc.
- Oracle Corporation
- Rackspace Inc.
- Red Hat Inc.
- SUSE
- VMware Inc.
What is Included in Market Segmentation?
The report has categorized the market based on component type, organization size, platform and application.
Breakup by Component:
- Solution
- Services
Breakup by Organization Size:
- Large Enterprises
- Medium Enterprises
- Small Enterprises
Breakup by Platform:
- Public Cloud
- Private Cloud
- Hybrid
Breakup by Application:
- BFSI
- Government and Defense
- Information Technology
- Telecommunication
- Academic and Research
- Retail and E-Commerce
- Manufacturing
- Others
Regions Covered:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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