MarketsandMarkets forecasts the global Open Source Services 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.
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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).”
By service, managed services segment to grow at highest CAGR during forecast period
Managed services provide IT support to enhance client experiences. Companies outsource certain IT functions to third-party providers referred to as Managed Service Providers (MSPs). These outsourced functions are basic, such as keeping IT equipment and other services functional by fully outsourcing the IT team. It sometimes becomes troublesome for companies to concentrate on their core business procedures and simultaneously handle these services. This, in turn, leads to companies’ high reliance on third parties to offer managed services. Every technology domain requires well-delivered managed services. Vendors must provide technical expertise, service consistency, and flexibility, regardless of the geographic location of clients. Open source managed services are based on the ‘open core model’ concept. In this model, the core functionality of the product or service is offered as open source, with additional proprietary fee-based features or services on top. Managed services provide all required skill sets to maintain and upgrade solutions, which are of utmost importance in open source environments. Pre-and post-deployment questions and clients’ needs are handled through the managed services unit. These factors are expected to drive the adoption of managed services during the forecast period.
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By organization size, SMEs segment to grow at highest CAGR during forecast period
SMEs are defined as organizations with an employee strength ranging from 1 to 1,000. In the current scenario, SMEs face different IT challenges due to their small staff and tight financial budget. Hence, they are increasingly deploying OSS fully. OSS is necessary for SMEs to optimize their operations and maintenance budget and allocate funds toward segments such as R&D to stay updated with market trends. Since there are typically no upfront expenses associated with downloading or installing open-source software, all functions are present. Even if some open source software requires a monthly cost, it is typically less expensive and generally offers greater value. Open source software is one of the most dependable and safe solutions, even though many business owners may dread the worst because of its public nature. This is because thousands of developers view, test, and modify the source code. Users will then be able to find any faults or vulnerabilities right away. Even while hackers can access the source code, the network of workers swiftly foils any attempts they make.
Due to the intense market rivalry, many SMEs look for an appropriate Enterprise Resource Planning (ERP) system to boost their company’s performance, particularly open source ERP systems. Open source ERP solutions are widely available nowadays. The difficulty is that most SMEs have a limited budget, necessitating an appropriate open source ERP for a successful implementation. For SMEs to make a wise investment, choosing an appropriate open source ERP must be carefully considered. SMEs’ adoption and acceptance of OSS will help expand their customer base and enhance business efficiency through more service offerings to the clients. Governments are also taking initiatives to promote the adoption of OSS by SMEs in their respective countries.
Unique Features in the Open Source Services Market
Open source services make use of collaborative development techniques, in which software solutions are continuously improved, innovated, and transparent thanks to contributions from a worldwide developer community.
Open source services frequently provide affordable solutions without the need for licencing fees, allowing businesses to use premium software without incurring large initial expenditures. This eventually results in a lower total cost of ownership (TCO).
Organisations can edit source code, construct bespoke extensions or connectors to fulfil specific requirements, and adjust software to meet their needs thanks to the flexibility and customisation choices offered by open source solutions.
Open source software increases security and user confidence in software solutions because it is transparent and lets users examine the source code for bugs, security holes, and industry standards compliance.
With the vendor independence that open source services give, businesses may avoid vendor lock-in, take more control over their technological stack, and seamlessly transition between vendors or service providers without relying on proprietary technologies.
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Major Highlights of the Open Source Services Market
Since open source services usually don’t require licencing fees, they are an affordable option for enterprises as they lower their total cost of ownership and upfront expenses.
Because open source software is constantly inspected by the community, security flaws are quickly found and fixed, guaranteeing strong security.
Through cooperative creation, open source promotes innovation by facilitating quick iterations, experiments, and uptake of novel features and technologies.
The utilisation of open source solutions facilitates data sharing and smooth integration across heterogeneous environments by promoting compatibility and interoperability with other software and platforms.
Because open source services are vendor neutral, businesses can select from a large number of service providers and support choices without being locked into a single vendor.
Competitive Overview:
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.
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