Revenues from OpenStack Service Market to top 5.66 Billion USD by 2022

Report define, describe, segment, and forecast the OpenStack service market based on component, organization size, vertical, and region

(EMAILWIRE.COM, August 10, 2019 ) 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.

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.

Browse 77 tables and 39 figures spread through 138 pages and in-depth TOC on "OpenStack Service Market - Global Forecast to 2022"
https://www.marketsandmarkets.com/Market-Reports/openstack-services-market-188374872.html

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)
• VMware (US)

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.

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.

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 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.

Speak to analyst !