OpenStack service Industry, Market Segmentation, Growth Factors, Intelligence and Future Prospects Forecast Year 2027
The global OpenStack service Industry witnesses a constant revenue increase. The growth attributes to the increasing adoption of cloud technology for data storage and the introduction of big data analytics. Cloud service usage is on the rise, which, alongside the rising cloud networking framework, drives the growth of the market. Moreover, the growing demand for organizing and managing heterogeneous storage and network resources in IT organizations escalates market growth.
According to Market Research Future (MRFR), the global OpenStack service market is projected to reach over USD 8 BN by 2023, registering a whopping 29% CAGR throughout the forecast period (2017-2023). Organizations deploy OpenStack to manage cloud-based infrastructure, web hosting, SaaS delivery (Software as a Service), and many more. Also, organizations adopt service offerings in their cloud-based services for numerous advantages like cost savings, customization, value-added services, and innovation in the product line.
OpenStack helps to automate cloud maintenance and benefits by providing a remote vision of other storage devices in the cloud. Additionally, the increasing demand for cloud-based solutions and services boost the OpenStack service market globally. Furthermore, the OpenStack platform's availability and easy deployment in increasing numbers of SMEs boost the market's growth. The rapid growth in IoT technologies and on-demand network providers accelerate market growth.
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Players leading the global OpenStack service market include Huawei (China), Canonical (UK), Cisco Systems (US), VMware (US), SUSE (Germany), Hewlett Packard Enterprise (US), Dell Inc. (US), Oracle Corporation (US), IBM Corporation (US), Rackspace (US), Red Hat (US), Mirantis (US), EasyStack (China), Platform9 Systems (US), Pactera Technology International Ltd. (China), Puppet (US), The Cloudscaling Group, Inc., (US), CDI LLC (US), Aptira (Australia), Techblue Software Private Limited (India), AQORN (US), Cyxtera Data Centers, Inc.(US), and Bright Computing (the Netherlands), among others.
The report is segmented into five dynamics;
By Component : Solution and Services (consulting services, installation & integration services, and support & maintenance services).
By Deployment : Public Cloud, Private Cloud, and Hybrid.
By Organization Size: SME and Large Enterprises.
By Vertical : BFSI, IT & Telecommunication, Manufacturing, Retail, Government, and others.
By Regions : Europe, Americas, Asia Pacific, and the Rest-of-the-World.
North America dominates the global OpenStack service market. The largest market share attributes to the presence of several notable players and the early adoption of cloud-based services in the region, improving the OpenStack infrastructure that can re-structure business functions & strategies. Besides, raising usages of private cloud and the adoption of BYOD (Bring Your Device) policy among organizations drives the growth of the market.
Moreover, advancements in cloud technology and vast numbers of networks due to the digital revolution across the industries influence the OpenStack service market growth. The US and Canada, with their increasing OpenStack service applications, hold considerable shares in the regional market. The North American OpenStack service market is projected to retain its dominance throughout the estimated period.
Europe holds the second-largest market share in the global OpenStack service market. The region has seen an increased application in IT & telecommunication sector in the region, fostering the market growth. Additionally, the market growth is fostered by the increasing adoption of advanced OpenStack services across the industries.
Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
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List of Tables
Table 1 Global Openstack Service Market: By Region, 2020-2027
Table 2 North America Openstack Service Market: By Country, 2020-2027
Table 3 Europe Openstack Service Market: By Country, 2020-2027
List of Figures
FIGURE 1 Global Openstack Service Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis Of Global Openstack Service Market
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