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Publishing News and Press Releases

OpenStack Service Market worth USD 5.66 Billion in 2022 - Exclusive Report by MarketsandMarkets

(Publishing-NewsWire.com, October 27, 2021 ) The report "OpenStack Service Market by Component (Solution, Service), Organization Size (Large Enterprises, Small & Medium Enterprises), Vertical (IT, Telecommunication, Academic & Research, BFSI, Retail & E-Commerce), and Region - Global Forecast to 2022", The OpenStack service market is expected to grow from USD 1.63 Billion in 2017 to USD 5.66 Billion by 2022, at a CAGR of 28.3% from 2017 to 2022. The market is primarily driven by the advantages offered by OpenStack services, such as fast and easy deployment, no compulsion of vendor lock-in, and wide community support.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=188374872

Top Key Players

Some of the major OpenStack service vendors include Canonical (UK), Cisco Systems (US), Dell EMC (US), HPE (US), Huawei (China), IBM (US), Mirantis (US), Oracle (US), Rackspace (US), Red Hat (US), SUSE (Germany), and VMware (US).

Based on component, the service segment is expected to witness a higher growth rate during the forecast period

Based on component, the service segment of the OpenStack service market is expected to witness a higher growth rate than the solution segment from 2017 to 2022. The growth of the service segment is due to the growing need to simplify the maintenance, operation, and control of open source platforms. The high IT complexity of cloud has also supported the growth of services associated with the open source platform. The high cost of managing and monitoring enterprise-ready open source technologies is another factor driving the growth of the service segment.

Get sample of report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=188374872

Based on organization size, the small & medium enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period

Based on organization size, the SMEs segment of the OpenStack service market is estimated to witness a higher growth rate than the large enterprises segment during the forecast period. SMEs have budget constraints on investing in IT infrastructure equipment, whereas implementing OpenStack infrastructure-as-a-service could save the additional costs incurred in purchasing licenses and supporting hardware. The benefits associated with the implementation of OpenStack service are expected to drive the adoption of OpenStack solutions by SMEs in the near future.

Based on vertical, the telecommunication segment is expected to grow at the highest CAGR during the forecast period

Based on vertical, the telecommunication segment of the OpenStack service market is expected to witness the highest growth in the coming years. This segment has accelerated the adoption of Network Function Virtualization (NFV) using OpenStack, to increase network agility and mitigate installation and management costs.

North America is estimated to lead the OpenStack service market in 2017

North America is estimated to account for the largest share of the OpenStack service market in 2017. The growth of the North America OpenStack service market is primarily driven by the high adoption rate of latest technologies, such as cloud computing, Big Data, IoT, and business intelligence tools, by organizations in this region. The presence of key market players, such as Cisco Systems (US), Dell EMC (US), HPE (US), IBM (US), Mirantis (US), Oracle (US), Rackspace (US), Red Hat (US), and VMware (US), has also contributed to the growth of the OpenStack service market in this region.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Source: EmailWire.Com

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