Global OpenStack Service Market Size By Component (Solution and Service), By End User (Banking Financial Services & Insurance, Telecommunication), By Geographic Scope And Forecast
Report ID: 27922|No. of Pages: 202
Global OpenStack Service Market Size By Component (Solution and Service), By End User (Banking Financial Services & Insurance, Telecommunication), By Geographic Scope And Forecast
OpenStack Service Market Size And Forecast
OpenStack Service Market size was valued at USD 5.46 Billion in 2024 and is projected to reach USD 29.5 Billion by 2031, growing at a CAGR of 25.90% from 2024 to 2031.
The growing adoption of cloud platforms by enterprises to manage the work efficiently & effectively, increasing demand for big data analytics, bring your own device, and adoption of smart devices are likely to drive the OpenStack service market over the forecasted period. The Global OpenStack Service Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global OpenStack Service Market Drivers
The market drivers for the OpenStack Service Market can be influenced by various factors. These may include:
- Growing Cloud Computing Adoption: One of the key factors propelling the OpenStack Service Market is the growing usage of cloud computing in a variety of sectors. OpenStack is a popular choice for enterprises looking for cost-effective, scalable, and flexible cloud infrastructure since it offers an open-source platform for creating and operating private and public clouds.
- The need for hybrid and multi-cloud environments is growing as companies look to take use of the advantages of both public and private clouds without being locked in to one particular vendor. The demand for OpenStack services is fueled by the platform’s capacity to work with various cloud environments and its interoperability, which makes it ideal for creating hybrid and multi-cloud designs.
- Cost-effectiveness and resource optimisation are made possible by OpenStack, which helps businesses to construct and administer cloud infrastructure with commodity hardware instead of investing in expensive proprietary hardware and software licences. Businesses trying to maximise their IT expenditures while expanding their infrastructure to accommodate increasing demand may find this cost-effectiveness appealing.
- Flexibility and Customisation: OpenStack provides a great deal of flexibility and customisation, enabling businesses to modify their cloud infrastructures to suit their needs and workloads. The demand for OpenStack services is fueled by organisations’ ability to innovate and modify their cloud infrastructure in response to changing requirements.
- Support for New Technologies: OpenStack offers assistance with cutting-edge technologies including edge computing, containers, and artificial intelligence/machine learning (AI/ML). OpenStack services are in high demand as businesses use these technologies to propel digital transformation programmes and need a scalable and adaptable cloud infrastructure.
- Robust Open-Source Community: OpenStack is endowed with a robust community of developers, contributors, and users who work together to improve the functionality, dependability, and security of the platform. OpenStack’s popularity in the market is fueled by the vibrant community support that encourages innovation, speeds up development cycles, and guarantees the platform’s continuous improvement.
- Regulatory Compliance and Data Sovereignty: Cloud solutions that provide more control over data residency and compliance are frequently sought after by businesses operating in regulated industries or in areas with data sovereignty requirements. Adoption in these areas is fueled by OpenStack’s capacity to establish private and hybrid clouds with localised data storage options, which assists enterprises in addressing regulatory compliance and data sovereignty concerns.
- Vendor Neutrality and Preventing Lock-In: Organisations looking to prevent vendor lock-in and preserve control over their cloud infrastructure find OpenStack’s open-source nature and vendor-neutral governance approach appealing. OpenStack helps enterprises to keep their cloud deployments independent and flexible by offering a substitute for proprietary cloud solutions.
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Global OpenStack Service Market Restraints
Several factors can act as restraints or challenges for the OpenStack Service Market. These may include:
- Complexity and Learning Curve: To effectively deploy, operate, and manage OpenStack, one needs specialised knowledge and skills due to its multiple components and capabilities. Adopting OpenStack comes with a high learning curve, which may discourage organisations with limited resources or expertise from setting up and managing OpenStack-based cloud infrastructures.
- Integration Difficulties: Especially for enterprises with diverse settings or outdated systems, integrating OpenStack with current IT infrastructure, apps, and tools can be difficult. Problems with compatibility, interoperability, and the requirement for specialised integration techniques could impede OpenStack’s smooth assimilation into the current IT environment.
- Performance and Scalability Restrictions: Although OpenStack provides flexibility and scalability, enterprises may run into problems with performance and scalability when expanding their cloud environments to handle heavy workloads or varying demand. Optimal resource allocation, network congestion, and architectural limitations might affect OpenStack deployment performance and scalability.
- Security and Compliance Issues: When implementing OpenStack-based cloud environments, enterprises must take security and compliance issues into account. Security is still a major worry for cloud computing. Organisations can be exposed to data breaches, compliance violations, and other security issues due to vulnerabilities in OpenStack components, misconfigurations, and poor security measures. This can erode trust in the platform.
- Budgetary restrictions and resource constraints: Developing and running an OpenStack-based cloud infrastructure involves large expenditures for staff, software, hardware, and continuing maintenance. The initial fees and continuing expenses associated with OpenStack deployments may be difficult for organisations with limited financial resources or budgetary constraints to justify, which could cause adoption to be delayed or scaled back.
- Absence of Vendor Support and Enterprise-Grade Offerings: Despite the fact that OpenStack is backed by a wide range of vendors, service providers, and community members, enterprises may find it difficult to get enterprise-grade features, managed services, and thorough support for their OpenStack deployments. Strong vendor support and commercially backed distributions could be a turnoff for companies with risk-averse procurement strategies or strict SLA requirements.
- Market Competition and Alternative Solutions: Well-known cloud service providers (like AWS, Azure, and Google Cloud) that provide exclusive cloud platforms and services compete with the OpenStack Service Market. OpenStack adoption in the market may be hampered by organisations choosing these alternatives because of their maturity, feature set, global reach, and integration with other cloud services
- Governance and Community Dynamics: The decision-making process, the order of priorities on the roadmap, and the rate of innovation within the project can all be influenced by OpenStack’s governance structure and community dynamics. Conflicts, conflicting interests, and shifts in project leadership can create instability and uncertainty, which can erode organisations’ faith in OpenStack’s long-term survival as a strategic cloud platform.
Global OpenStack Service Market: Segmentation Analysis
The Global OpenStack Service Market is segmented based on Component, End-User, and Geography.
OpenStack Service Market, By Component
- Solution
- Service
Based on the Component, the market is bifurcated into Solution and Service. The Service segment is expected to hold the largest market share due to rising need to simplify operation, control, and maintenance of open-source platforms.
OpenStack Service Market, By End-User
- Banking Financial Services & Insurance
- Telecommunication
- Retail & E-Commerce
- Information Technology
- Others
Based on the End-User, the market is bifurcated into Banking Financial Services & Insurance, Telecommunication, Retail & E-Commerce, Information Technology, and Others. Information Technology segment is anticipated to have the largest market share in the forecasted period. The factors can be attributed to the availability of cloud services to IT companies developing the OpenStack software and availability of highly scalable storage as a service offering. The telecommunication segment is predicted to grow with the highest CAGR.
OpenStack Service Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
Based on regional analysis, the Global OpenStack Service Market is classified into North America, Europe, Asia Pacific, and Rest of the world. The largest share in the market will be dominated by Europe due to the growing use of data security & open source software which is generating a need to adopt OpenStack services. The Asia Pacific is expected to witness significant growth due to rising investments in R&D by various companies in digital transformation and the growing adoption of OpenStack services in this region.
Key Players
The “Global OpenStack Service Market” study report will include major players such as Cisco Systems, Oracle, Red Hat, Hewlett Packard Enterprise, Canonical, VMware, Huawei, and others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Cisco Systems, Oracle, Red Hat, Hewlett Packard Enterprise, Canonical, VMware, Huawei, and others. |
| SEGMENTS COVERED |
|
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Research Methodology of Verified Market Research:
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
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• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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Frequently Asked Questions
1 INTRODUCTION OF GLOBAL OPENSTACK SERVICE MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL OPENSTACK SERVICE MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL OPENSTACK SERVICE MARKET, BY COMPONENT
5.1 Overview
5.2 Solution
5.3 Service
6 GLOBAL OPENSTACK SERVICE MARKET, BY END USER
6.1 Overview
6.2 Banking Financial Services & Insurance
6.3 Telecommunication
6.4 Retail & E-Commerce
6.5 Information Technology
6.6 Others
7 GLOBAL OPENSTACK SERVICE MARKET, BY GEOGRAPHY
7.1 Overview
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 U.K.
7.3.3 France
7.3.4 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 Japan
7.4.3 India
7.4.4 Rest of Asia Pacific
7.5 Rest of the World
7.5.1 Latin America
7.5.2 Middle East
8 GLOBAL OPENSTACK SERVICE MARKET COMPETITIVE LANDSCAPE
8.1 Overview
8.2 Company Market Ranking
8.3 Key Development Strategies
9 COMPANY PROFILES
9.1 Cisco Systems
9.1.1 Overview
9.1.2 Financial Performance
9.1.3 Product Outlook
9.1.4 Key Developments
9.2 Oracle
9.2.1 Overview
9.2.2 Financial Performance
9.2.3 Product Outlook
9.2.4 Key Developments
9.3 Red Hat
9.3.1 Overview
9.3.2 Financial Performance
9.3.3 Product Outlook
9.3.4 Key Developments
9.4 Hewlett Packard Enterprise
9.4.1 Overview
9.4.2 Financial Performance
9.4.3 Product Outlook
9.4.4 Key Developments
9.5 Canonical
9.5.1 Overview
9.5.2 Financial Performance
9.5.3 Product Outlook
9.5.4 Key Developments
9.6 VMware
9.6.1 Overview
9.6.2 Financial Performance
9.6.3 Product Outlook
9.6.4 Key Developments
9.7 Huawei
9.7.1 Overview
9.7.2 Financial Performance
9.7.3 Product Outlook
9.7.4 Key Developments
10 Appendix
10.1 Related Research
Report Research Methodology
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Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Econometrics and data visualization model
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The aims of doing primary research are:
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Industry Analysis Matrix
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