OpenStack Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

OpenStack Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

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.

OpenStack is an open source platform which allows the user to freely access the source code, modify it and share it with the users at large. It is a type of Infrastructure-as-a-service (IaaS) that facilitates communication and storage between the hardware device of the computer and the cloud. It comprises various computing services such as object and block storages, and networking and shared file systems. It can be utilized for web hosting, conducting big data projects, delivery of Software-as-a-Service (SaaS) and effectively utilizing resources through a web interface. It offers high efficiency, on-demand services, resource pooling, high flexibility and agility. As a result, the service finds wide application in medium and large enterprises along with the manufacturing, telecommunication and energy industries.

The increasing demand for cloud-based and internet-enabled services is the key factor driving the growth of the market. Furthermore, OpenStack offers high cost-efficiency by positioning virtual computing infrastructure that gives control to the user and allows making changes to the hardware or software component in the system. Additionally, it assists organizations in terms of operational effectiveness and financial management that has led to its increased adoption across various industries. The free availability of OpenStack platform, easy deployment and wide adoption of big data analytics across telecom verticals and small and medium-sized enterprises (SMEs) are further driving the market growth. Moreover, technological advancements in OpenStack infrastructure are providing increased capacities for heterogeneous enterprises that require better speed and developer experience, thus resulting in increased adoption of the service.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global openstack service market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component type, organization size, platform and application.

Breakup by Component Type:

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

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Bright Computing Inc., Canonical, Cisco Systems Inc., Dell Technologies Inc, Hewlett Packard Enterprise, IBM, Mirantis Inc., Oracle Corporation, Rackspace Inc., Red Hat Inc., SUSE, VMware Inc., etc.

Key Questions Answered in This Report:
How has the global openstack service market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global openstack service market?
What is the breakup of the market based on the component type?
What is the breakup of the market based on the organization size?
What is the breakup of the market based on the platform?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global openstack service market and who are the key players?
What is the degree of competition in the industry?