The OpenStack Services Market size is estimated at USD 22.81 billion in 2024, and is expected to reach USD 91.44 billion by 2029, growing at a CAGR of 32.01% during the forecast period (2024-2029).
The growing adoption of the pay-as-you-go model and the cost-effective IT infrastructure development in a virtual environment (where every workload is taken care of by the cloud vendors) are certain factors expected to drive market growth for OpenStack services globally.
The OpenStack Services Market is semi-consolidated due to the presence of significant players such as Cisco Systems, Inc., Red Hat, Inc., Hewlett Packard Enterprise Development LP, Mirantis, Inc., etc. The players in the market are frequently launching innovative solutions, forming partnerships, and mergers to increase their market share and expand their geographical presence.
In June 203, Nokia and Red Hat, Inc., one of the leading global providers of open-source solutions, announced that they had agreed to tightly integrate Nokia’s core network applications with Red Hat Openstack Platform and Red Hat OpenShift. As part of the agreement, Nokia and Red Hat would jointly support and evolve existing Nokia Container Services (NCS) and Nokia CloudBand Infrastructure Software (CBIS) customers while developing a path to migrate to Red Hat’s platforms over time. Additionally, Nokia would leverage Red Hat’s infrastructure platforms to enable faster development and testing of Nokia’s extensive core network portfolio.
In October 2022, RedHat announced the launch of OpenStack Platform 17 at the MWC Las Vegas event, covering a wide range of improvements with a focus on open hybrid cloud architectures that are meant to aid service providers as they construct expansive next-generation networks.
In June 2022, Ericsson and Red Hat announced the partnership to deploy solutions, empowering service providers with an open platform that extended across a network for vEPC, 5G Core, IMS, OSS, and BSS. The team integrated Ericsson's network function solutions with Red Hat OpenShift and Red Hat OpenStack Platform.
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