OpenStack service Industry, Regional Segmentation Expansion Approach and by Forecast to 2027
Market Overview:
The global OpenStack service Industry market witnesses a constant revenue increase. The growth attributes to the increasing adoption of cloud technology for data storage and the introduction of big data analytics. Cloud service usage is on the rise, which, alongside the rising cloud networking framework, drives the growth of the market. Moreover, the growing demand for organizing and managing heterogeneous storage and network resources in IT organizations escalates market growth.
According to Market Research Future (MRFR), the global OpenStack service market is projected to reach over USD 8 BN by 2023, registering a whopping 29% CAGR throughout the forecast period (2017-2023). Organizations deploy OpenStack to manage cloud-based infrastructure, web hosting, SaaS delivery (Software as a Service), and many more. Also, organizations adopt service offerings in their cloud-based services for numerous advantages like cost savings, customization, value-added services, and innovation in the product line.
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Players leading the global OpenStack service market include Huawei (China), Canonical (UK), Cisco Systems (US), VMware (US), SUSE (Germany), Hewlett Packard Enterprise (US), Dell Inc. (US), Oracle Corporation (US), IBM Corporation (US), Rackspace (US), Red Hat (US), Mirantis (US), EasyStack (China), Platform9 Systems (US), Pactera Technology International Ltd. (China), Puppet (US), The Cloudscaling Group, Inc., (US), CDI LLC (US), Aptira (Australia), Techblue Software Private Limited (India), AQORN (US), Cyxtera Data Centers, Inc.(US), and Bright Computing (the Netherlands), among others.
Segmental Overview:
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.
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.
Furthermore, augmenting research and development in telecom industry technology related to network expansion increases the market size. The European OpenStack service market is anticipated to create a substantial revenue pocket during the assessment period.
The Asia Pacific OpenStack service market is emerging as a profitable market globally. Factors such as the high penetration of the Internet of Things and cloud-related technology in the region propel market growth.
Moreover, the increasing uptake of cloud-based services and enormous opportunities across businesses in the region influence the market's growth. The APAC OpenStack service market is expected to grow at an impressive CAGR during the predicted period.
Industry News
The global OpenStack service Market Research Trends has been affected due to the lockdown across the regions. This pandemic situation has hampered the OpenStack service Market Research Growth as well as its productivity, supply chain, and others. Moreover, the global market has lost its investors due to the increasing loss for the products, supply, transportation, workforce, and others. However, in the meantime, the key market players have implied various strategic techniques to boost global market growth. Thus, to meet the global market demands, the global market increased its speed in producing more valuable products for its intended customers. Recently, the global market has stabilized its position in the global market and is expected to register a higher OpenStack service Market Research Size for the forecast period.
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Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
Continued….
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