- Factors driving this market are cost-effective service, accessible software to everyone in the business for providing valuable solutions for the enterprise
- Asia Pacific is also a region, which is contributing towards the market share growth, especially in China added the report
The open source services market is predicted to grow at a CAGR of around 21.75 per cent and reach $66.84 billion by 2026 as per a report by ResearchAndMarkets. The demand for the open-source services market is supporting the market growth. Somehow, the open-source services have certain security challenges that are pushing down on market growth added the report.
It added that the factors driving this market are cost-effective service, accessible software to everyone in the business for providing valuable solutions for the enterprise. In addition, the open-source service gives the secured data. As per the report, rapidly increasing demand for real-time important data and requirement of the open-source intelligence market gives support in the growth of the open-source market. However, highly complicated open-source intelligence is a restrain to the open-source market growth.
Manufacturing industry is having the largest share
In industry segment, the manufacturing industry is having the largest share in the open-source market due to the adoption of open source in the manufacturing industry as well as due to the high adoption of production planning, inventory planning and estimation of demand in the manufacturing industry.
It added, “The banking, financial services, and insurance industry are also expected to have the next large share in the market as this industry adopted the customer relationship management solutions to approach the customers. ”
North America has been the largest contributor in the open-source market growth
The consulting service has acquired the largest share in the open-source services market. This is due to the fact that many players competing in the open-source services market are highly developing strategies to promote the awareness about Linux and other open-source operating systems for the developers.
North America has been the largest contributor in the open-source market growth due to the high funding in the cloud-based solutions and early acquisition of advanced technologies and solutions for the better performance of the enterprise.
The report says, “Asia Pacific is also a region, which is contributing towards the market share growth, especially in China, where a lot of companies are dependent on IT technology, which is increasing the utilization of the open-source.”