The Europe Open Source Services Market would witness market growth of 16.1% CAGR during the forecast period (2021-2027).
Open source software maintains its high quality by enabling numerous coders from varied backgrounds with different perspectives to introduce regular updates and enhance the value & flexibility of the code. In addition, open source services are utilized for data integration, web content management, business process management, cloud management, and project management. Along with that, open source in cloud computing provides better compatibility with a wide variety of products like Cloud Foundry and Cloudify. Additionally, it could also be utilized in software development and software modeling tools.
The open-source services consist of a server to data integration software and important business solutions like big data and customer relationship management (CRM). Furthermore, the open-source services are personalized according to the companies’ needs and it is developed with the help of basic offerings like conventional IT service offerings. These open source services enable coders from various backgrounds and distinct perspectives to carry out regular updates and enhance more value and flexibility of the code. In addition, the open-source services are widely utilized in data integration, business process management, project management, cloud management, and web content management.
There is rising adoption of open source technology in the international market, which is opening new growth prospects for the open source services market. Along with that, companies in this region are increasingly opting for cloud-based solutions and thus, increasing their investment in open source cloud platforms such as Openstack and Cloudstack. Due to this, the growth of the open source services market is estimated to witness a surge in the coming years.
Moreover, the key performance indicators of open source solutions are improved flexibility, open standards, NextGen ecosystem readiness, ecosystem compliance, competitive edge, ever-growing technology, and minimized cost of ownership, which would attract more companies towards its adoption. These factors would help the regional market to gain new heights over the forecast period. The budget constraints of SMEs would motivate them to adopt open source services, which would augment the regional market growth.
The Germany market dominated the Europe Open Source Services Integration & Implementation Market by Country 2020, thereby, achieving a market value of $798.6 million by 2027. The UK market is exhibiting a CAGR of 15.2% during (2021 - 2027). Additionally, The France market is anticipated to witness a CAGR of 16.9% during (2021 - 2027).
Based on Type, the market is segmented into Professional Services and Managed Services. Professional Services market is further bifurcated across Training & Consulting, Integration & Implementation and Support & Maintenance. Based on Industry Vertical, the market is segmented into IT, ITeS & Telecom, BFSI, Consumer Goods & Retail, Manufacturing, Healthcare & Life Sciences, Transportation & Logistics, Education and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Open Source Services Market Size will Hit $60 Billion by 2027, at a CAGR of 17%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Suse SA, Percona, Salesforce.com (Mulesoft), Wipro Ltd., Accenture plc, Evoke Technologies, Cisco Systems, Inc., Infosys Limited, and Hewlett Packard Enterprise.
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