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 Service is an open-source cloud computing platform that enables organizations to build, manage, and scale their private or public clouds. OpenStack offers a flexible and scalable infrastructure-as-a-service (IaaS) solution with its comprehensive set of services. The platform is designed to be vendor-neutral, allowing users to choose from a wide range of hardware and software options without being locked into a specific provider. OpenStack service comprises various interconnected components, including Nova for compute resource management, Cinder for block storage, Neutron for networking, Glance for image services, Keystone for identity and authentication, Swift for object storage, Horizon for the web-based dashboard, and Heat for orchestration. These components work together to provide a robust and efficient cloud infrastructure, empowering organizations to deploy virtual machines, manage storage, handle networking, and automate the deployment of applications. OpenStack’s open-source nature fosters collaboration and innovation, with a vibrant community continuously improving and enhancing the platform’s capabilities. OpenStack service provides a robust and scalable infrastructure platform for organizations looking to build private, public, or hybrid clouds. It enables efficient resource management, seamless integration with existing IT infrastructure, and the ability to scale resources up or down based on demand.
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What are the Growth Prospects and Trends in the OpenStack Service Industry?
The rising demand for managing and orchestrating resources across different cloud environments represents one of the key factors driving the growth of the market across the globe. This is primarily attributed to the increasing adoption of multi-cloud and hybrid cloud strategies in several enterprises. The market is also driven by the rising need for robust and flexible cloud infrastructure to support the evolving IT needs due to the increasing digital transformation initiatives by several organizations. In line with this, OpenStack offers flexibility in terms of infrastructure customization and scalability, which is further driving the growth of the market. Apart from this, the rising demand for IaaS is facilitating the growth of the market. This is due to the benefits of scalability, cost-effectiveness, and on-demand resource provisioning, which is driving the growth of the market. In addition to this, the increasing demand for vendor neutrality is helping organizations to avoid vendor lock-in and choose from a wide range of hardware and software options which, in turn, is contributing to the growth of the market. This independence is further giving organizations more control over their cloud infrastructure. Moreover, technological advancements, higher cost efficiency as compared to proprietary cloud solutions, easy access to the source code, and the ability to modify and customize it according to the specific needs of various organizations, community support and development, the expansion of the telecom industry, and the increasing demand for innovative services in different telecommunication companies are some of the other factors creating a positive outlook for the market across the globe.
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
Based on Organization Size:
- Large Enterprises
- Medium Enterprises
- Small Enterprises
Analysed 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)
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.
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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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