Open Source Services Global Market Report 2024

The open source services market size has grown exponentially in recent years. It will grow from $36.67 billion in 2023 to $44.98 billion in 2024 at a compound annual growth rate (CAGR) of 22.7%. The growth observed in the historic period can be attributed to the growth of emerging markets, an increasing focus on digitizing business processes, a rise in IT spending, and the increasing adoption of big data and automation.

The open source services market size is expected to see exponential growth in the next few years. It will grow to $107.46 billion in 2028 at a compound annual growth rate (CAGR) of 24.3%. The anticipated growth in the forecast period can be attributed to the increasing utilization of cloud computing, rising government support, and a growing number of tech-savvy individuals. Major trends expected in the forecast period include the introduction of new open-source versions, the launch of quantum-centric supercomputing, investments in artificial intelligence, technological advancements, and new product launches.

The growth of the open-source services market is attributed to the reduced cost of ownership and time to market. Prominent entities such as MySQL Databases, Apache HTTP Server, WordPress by Automatic, Ubuntu by Canonical, MuleSoft Data Integration Platform, and Red Hat actively employ open-source solutions. The adoption of open-source software (OSS) can lead to substantial cost savings for clients, encompassing acquisition, deployment, support, and maintenance expenses. A study by Linux Foundation Consulting revealed that clients leveraging open-source solutions save between 20-55% compared to commercial alternatives. These savings commence with acquisition costs and extend across deployment, support, and maintenance, fostering the growth of the open-source services market.

The continued expansion of cloud computing usage is anticipated to drive the open-source services market's growth. The implementation of cloud applications using open-source software facilitates source code accessibility, modification, and utilization. Free and open-source software technologies enable cloud deployment across diverse domains. In 2022, Exploding Topics reported that the cloud hosts 60% of global corporate data, accounting for 3% of global energy usage. Cloud infrastructure services generate an annual revenue of $178 billion, with 90% of large businesses employing a multi-cloud infrastructure. Consequently, the increasing reliance on cloud computing is expected to significantly contribute to the growth of the open-source services market.

Leading companies in the open-source services sector are prioritizing technological advancements to fortify their market positions. For instance, Google AI, a division of Google dedicated to artificial intelligence, launched TensorStore in September 2022 - a C++ and Python library designed for the storage and manipulation of n-dimensional data. This open-source library addresses critical engineering challenges in scientific computing, enhancing the management and processing of extensive datasets.

A prevailing trend in the open-source services market is the formation of strategic partnerships between companies to accelerate technological evolution and reduce time to market. Across the global information technology landscape, players are engaging in collaborations, partnerships, or consortiums to innovate open-source platforms and services for diverse industries. In November 2021, Synechron, a New York-based IT and consulting company, joined the Fintech Open-Source Foundation to foster increased open-source collaborations within the fintech industry.

In October 2021, Accenture, a multinational company based in Ireland with expertise in digital, cloud, and security, made a strategic acquisition. The undisclosed acquisition of umlaut, a German engineering consulting and services firm, positions Accenture to significantly enhance its capabilities in helping companies leverage digital technologies, including cloud, artificial intelligence, and 5G, to transform their product design, engineering, manufacturing, and sustainability efforts.

Major companies operating in the open source services market report are IBM Corporation, Oracle Corporation, Hewlett Packard Enterprise, Accenture, Cisco Systems, Infosys, Salesforce.com, HCL, Atos Information Technology Incorporated, Wipro, Appsmith, Zilliz, Alibaba, Tencent, Endor Labs, Dgraph Labs, ToolJet, ValarDigital, 5ire, CivicDataLab, Swan Solutions & Services Pvt. Ltd., UCloud Information Technology, Mindee, Luos, Platform.sh, Strapi, PrestaShop, Bonitasoft, SensioLabs, draw.io, Sysdig, Giskard, Starburst, Bucharest DevOps Hackers Meetup, JSHeroes Meetups, SKB Kontur, Saleor Commerce, Tensor, Pachyderm, Rapid Silicon, Mirantis, SpiderOak, Eclipse Foundation, Appnovation, LifeRaft, PerfectlySoft Inc., BoxOfDocs, Cogdina, Sonatafy Technology, GoNet, Teravision Technologies, Extendo, ClickIT Smart Technologies, Altoros, Exoft, CodeNinja,, Tuxdi, Flowing Code, Zarego, GitHub, Treeverse, flexiWAN, Linnovate, AeroBase Group, Inc., Foretold, OpenSource Intelligent Solutions (Pty) Ltd., Bridge IT Support, Axial Technologies (Pty) Ltd., Saturn Technologies, Data.world, Hope La Fleur Communications Networks, Green IT Web, Net Advertising Solutions.

North America was the largest region in the open source services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the open source services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the open source services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary service types in the open source services market include professional services and management services. Professional services encompass a wide range of specialized services provided by individuals or firms with expertise in a particular field. Industries that extensively use open source services include banking, financial services, insurance, telecommunications, IT, manufacturing, government, healthcare, retail, and others.

The open source services market research report is one of a series of new reports that provides open source services market statistics, including open source services industry global market size, regional shares, competitors with an open source services market share, detailed open source services market segments, market trends and opportunities, and any further data you may need to thrive in the open source services industry. This open source services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The open-source services market includes revenues earned by entities by providing software tools that allow programmers to use current code to hone their innovations and enhance the product according to their requirements. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.