According to a new market research report “Open Source Services Market by Service Type (Support, Maintenance and Management, Implementation, Consulting), Industry (Manufacturing, Healthcare and Life Sciences, Retail and Distribution), and Region – Global Forecast to 2022″, published by MarketsandMarkets™, the global market size is expected to grow from USD 11.40 Billion in 2017 to USD 32.95 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 23.65% during the forecast period (2017-2022).
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. Open source adoption in organizations is expected to grow across all the IT segments to avail the flexibility and effectiveness in performing tasks with benefits, such as reduced costs, accelerated time-to-market, and simplified interoperability.
The rapid adoption of open source services in North America is expected to drive the regional market during forecast period.
North America is estimated to hold the largest market size in 2017, and the region is expected to dominate the market during the forecast period. Enterprises are adopting open source services. In fact, they are using open source services for their specific requirements. They are developing open source solution strategies for 5 major reasons: cost, support, flexibility, community, and the platform.
Globally, the manufacturing industry vertical is expected to lead in terms of open source services adoption.
The manufacturing industry vertical is expected to dominate the Open Source Services Market by vertical during the forecast period. The manufacturing companies would continue to adopt open source services, primarily for production planning, inventory planning, and demand forecasting.