Open Stack Services Market Growth Graph is Inclined Towards the Sky
An open stack is an open source cloud platform, which is focused on free cloud computing services. It consists of software tools that help in managing the platform for the public and private clouds.
Open source platform is the major driving factor for growth of the global open stack services market
According to a recent market survey by Coherent Market Insights, more than 78 percent of enterprises operate on open source and less than 3 percent indicate that they don’t rely on open software. Significant paradigm shift towards open-source software, owing to the requirement to gain competitive edge and enhance their operational productivity is expected to drive market growth. Some of the major technology players that include Amazon, Google, IBM, Facebook, Walmart, and The Linux Foundation have made substantial strategic developments towards these platforms. For instance, in February 2018, The Linux Foundation introduced Akraino Project, that aids carrier availability and performance requirements in cloud services.
Open source software doesn’t include additional charges and fees associated with proprietary software, such as administration fees, multi-user fees, and software upgrade costs, which reduces the business operating cost and budget. It also enables to allocate more money on beneficial enterprise services associated with open source services such as user training, support, and custom development.
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Open source services (OSS) help the business in terms of financial saving, reducing operating costs, andenables the business to allocate their finance on the secondary activities that includes user training, support and custom development.
Demand for open source is increasing, as it is a proven essential tool for enterprise IT revolution, operational effectiveness, and business value formation. This in turn, is increasing growth of the open stack services market.
Increasing adoption of open sources among IT enterprises to improve key business functions, especially financial management and accounting is the major factor boosting growth of the market. However, high initial cost of implementation and lack of skilled workforce are the major restraining factor for growth of the global open stack service market.
North America region held a dominant industry position and is estimated to retain its dominance over the forecast period, owing to increasing adoption of advanced technologies, such as cloud computing, Big Data, Internet of Technology (IoT), and business intelligence tools by the organizations, which in turn is reducing the business cost and increasing the productivity and profitability. According to the Coherent Market Insights, the cloud application market in the U.S. accounted for US$ 19.93 billion in 2017, which in turn expanded the U.S. economy by 2.3%, which is higher than 1.5% in 2016.
Technology-driven trends area expected revolutionize the industry players respond to fluctuating consumer behaviour, improve partnerships, and drive transformational variation. Digitization, increasing automation, and new business models have changed the IT industries. Major players operating in the global open stack services market include Canonical (U.K.), Cisco Systems Ltd. (U.S.), Dell EMC Corporation (U.S.), Helion Open Stack Corporation (U.S.), Huawei Technologies Corporation Ltd(China), IBM Cloud Manager (U.S.), Mirantis Open Stack (U.S.), Oracle Corporation (U.S.), Rack-space (U.S.), Red Hat Open Stack(U.S.), SUSE (Germany), and VMware
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