LAMEA Open Source Services Market By Type (Professional Services and Managed Services), By Industry Vertical (IT, ITeS & Telecom, BFSI, Consumer Goods & Retail, Manufacturing, Healthcare & Life Sciences, Transportation & Logistics, Education and Others), By Country, Opportunity Analysis and Industry Forecast, 2021 - 2027
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Market Report Description
The Latin America, Middle East and Africa Open Source Services Market would witness market growth of 20.7% CAGR during the forecast period (2021-2027).
By adopting Open source solutions, client businesses get higher flexibility and vendors become empowered by getting the opportunity and capability to modify their product to give customers the improved functionalities of their product. The increasing advancements in open source services enable technology providers to offer new solutions via partnerships. For example, Red Hat and Infosys, in 2019, formed a partnership for the development of an end-to-end open-source reference architecture & solution for IoT for industry verticals such as retail, oil and gas, financial services, and consumer packaged goods (CPG) & manufacturing.
The adoption of open source software has increased in the last few years at the enterprise level. It is because companies are identifying several benefits of open source services over the proprietary services and software, which is encouraging more companies to adopt these solutions. Due to this increase in adoption, the growth of the regional open source services market would witness a surge over the forecast period. In addition, the limited budget of the SMEs in this region is also contributing to the growth of the open source services market in this region.
Moreover, proprietary software for the major IT infrastructure can increase the risk of getting locked in by the vendor or technology. If this situation occurs then companies could witness an increase in the prices of the solutions and also experience less flexibility which cannot be avoided. Owing to this challenge, companies are increasingly inclining towards the implementation of open source services. In addition, several start-ups are using open source solutions in their premises due to their budget constraints, which is creating lucrative opportunities for the regional market growth during the forecast period.
Although, the development of an application from open-source software (OSS) features requires significant integration work like data synchronization, collaboration tools, automatic failover, load balancing, data management, etc. In addition, challenges like high architectural and operational complications are estimated to hinder the growth of the open source services market over the forecast period. For example, companies should deal with the latest software sources that include commercial and non-commercial vendors. These compliance norms would pose a key challenge in the introduction of advanced processes. Additionally, the absence of proper knowledge about particular open source services among numerous small enterprises is also restricting the growth of the open source services market.
The Professional Services market dominated the South Africa Open Source Services Market by Type 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $488.1 million by 2027. The Managed Services market is expected to witness a CAGR of 24.8% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Open Source Services Market is Predict to reach $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.
Scope of the Study
Market Segments Covered in the Report:
- Professional Services
- Training & Consulting
- Integration & Implementation
- Support & Maintenance
- Managed Services
By Industry Vertical
- IT, ITeS & Telecom
- Consumer Goods & Retail
- Healthcare & Life Sciences
- Transportation & Logistics
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Suse SA
- Salesforce.com (Mulesoft)
- Wipro Ltd.
- Accenture plc
- Evoke Technologies
- Cisco Systems, Inc.
- Infosys Limited
- Hewlett Packard Enterprise
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