OpenStack Service Market Share Will Hit US$ 6.0 Billion By 2028 | Growth With Recent Trends & Demand

IMARC Group, a leading market research company, has recently released a report titled “OpenStack Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global openstack service market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the OpenStack Service Market?

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.

What is OpenStack Service?

OpenStack is a platform of open-source nature that grants users the freedom to access, modify, and share its source code openly. Functioning as Infrastructure-as-a-service (IaaS), it enables the exchange of information and storage capabilities between computer hardware and the cloud. Within the framework of OpenStack, one can find an array of computing services, including object and block storage, networking, and shared file systems. Its potential applications encompass web hosting, large-scale data projects, Software-as-a-Service (SaaS) delivery, and efficient resource utilization through a web interface. Boasting remarkable features, such as high efficiency, on-demand services, resource pooling, flexibility, and agility. Consequently, this assistance finds wide application in medium and large enterprises and the manufacturing, telecommunication, and energy industries.

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What are the Growth Prospects and Trends in the OpenStack Service Industry?

The escalating demand for cloud-based and internet-enabled services is among the key factors driving the OpenStack service market. Moreover, the widespread adoption of this assistance, as it offers high cost-efficiency by positioning virtual computing infrastructure that provide control to the user and enables making changes to the hardware or software component in the system, is also stimulating the market growth. Besides this, the rising usage of these services enhances operational effectiveness and financial management for organizations, leading to its increasing utilization across industries, which is acting as another significant growth-inducing factor. Furthermore, the availability of the OpenStack platform at no cost, its easy deployment, and the increasing use of big data analytics in telecom and small and medium-sized enterprises (SMEs) is further propelling the global market. Apart from this, continuous technological advancements in this assistance infrastructure cater to the needs of diverse enterprises, offering improved speed and developer experience, resulting in greater adoption of the service are anticipated to fuel the OpenStack Market over the forecasted period.

Who are the Key Players Operating in the OpenStack Service Market?

The report has also analysed the competitive landscape of the market with some of the key players.

Computing Inc.
Canonical
Cisco Systems Inc.
Dell EMC
Hewlett Packard Enterprise
IBM
Mirantis Inc.
Oracle Corporation
Rackspace Inc.
Red Hat Inc.
SUSE
VMware Inc.

What is Included in Market Segmentation?

The report has categorized the market based on component type, organization size, platform and application.

Breakup by Component:

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

Regions Covered:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)

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Key Highlights of the Report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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