OpenStack Service Market Overview:

The global OpenStack service Market is constantly growing, mainly due to the increasing adoption of cloud technology for data storage and big data analytics. Besides, the rising cloud networking framework and the growing demand for organizing and managing heterogeneous storage and network resources in IT organizations are major Openstack service market trends.

The OpenStack service market industry is projected to grow from USD 18.69 Billion in 2022 to USD 79.63 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 23% during the forecast period (2022 - 2030). Also, numerous advantages that Openstack services offer, such as cost savings, customization, value-added services, and innovation in the product line, positively impact the market demand.

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Key Players:

Key Companies in the OpenStack service market include,

  • Canonical (U.K)
  • Huawei (China)
  • Cisco Systems (U.S.)
  • SUSE (Germany)
  • VMware (U.S.)
  • Hewlett Packard Enterprise (U.S.)
  • Oracle Corporation (U.S.)
  • Dell Inc (U.S.)
  • IBM Corporation (U.S.)
  • Red Hat (U.S.)

Additionally, the augmenting demand for cloud-based solutions and services boosts the OpenStack service industry globally. The easy availability and deployment of OpenStack platforms in increasing numbers of SMEs boost the openstack service market share. The rapid improvements in IoT technologies and on-demand network providers push market growth. 

On the flip side, the lack of technical assistance and deployment complexity are major factors impeding the market growth. Nevertheless, value-added reseller opportunities in products would support this market's growth throughout the estimated period. Also, the rising inclination of small and medium-sized business units towards cloud technology and advances in IoT technologies are forecasted to offer significant growth opportunities.

Market Segmentation:

The report is segmented into five dynamics; 

By Component          : Solution and Services (consulting services, installation & integration   services, and support & maintenance services). 

By Deployment          : Public Cloud, Private Cloud, and Hybrid.

By Organization Size: SME and Large Enterprises.

By Vertical     : BFSI, IT & Telecommunication, Manufacturing, Retail, Government, and others.

By Regions                 : Europe, Americas, Asia Pacific, and the Rest-of-the-World.

Regional Analysis:

North America dominates the global OpenStack service market. The largest market share attributes to the presence of several notable players and the early adoption of cloud-based services in the region, improving the OpenStack infrastructure that can re-structure business functions & strategies. Besides, raising usages of private cloud and the adoption of BYOD (Bring Your Device) policy among organizations drives the growth of the market. 

Moreover, advancements in cloud technology and vast numbers of networks due to the digital revolution across the industries influence the OpenStack service market growth. The US and Canada, with their increasing OpenStack service applications, hold considerable shares in the regional market. The North American OpenStack service market is projected to retain its dominance throughout the estimated period. 

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Europe holds the second-largest market share in the global OpenStack service market. The region has seen an increased application in IT & telecommunication sector in the region, fostering the market growth. Additionally, the market growth is fostered by the increasing adoption of advanced OpenStack services across the industries. 

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