The North America Open Source Services Market would witness market growth of 15.4% CAGR during the forecast period (2021-2027).
Open source services provide numerous advantages like high flexibility and effectiveness in carrying out different tasks along with the minimum total cost of ownership. Due to these benefits, companies are adopting open source services to expand their business at an unprecedented rate. In addition, some other potential benefits like reliability, enhanced software quality, customizable business solutions, flexible development & deployments, security, and major IT decision-makers that consider open source for their companies and healthcare organizations.
In addition, these open source services deliver enterprises with the advantage of cost-effectiveness and improved security & quality. Also, open source software cut down the upgrading costs, multi-user fees as well as administration fees. There is an increase in the adoption of open source services as it facilitates financial savings of companies by decreasing operating costs & budgets and also helps in the allocation of more finances to beneficial enterprise services related to OSS, which involve support, user training, and custom development. Due to these factors, the open source services market is estimated to witness a surge in demand over the forecast period.
Open source services are gaining more momentum across this region, which would contribute to the increasing adoption of open source services in the region. In addition, the growing population of tech-savvy people and the high adoption rate of various latest technologies and solutions among the regional enterprises are among the key aspects surging the growth of the regional open source services market during the forecast period.
Moreover, open source services are surrounded by flourishing communities that focus on improving a solution that can benefit companies as well as communities. In addition, these open source services are introduced by these global communities to offer new concepts, better flexibility, and efficiency, which would accelerate the demand and growth of the regional open source services market over the forecast period. Along with that, the increasing number of startups and SMEs in this region is also creating lucrative opportunities for the players operating in the regional market.
The US market dominated the North America Open Source Services Managed Services Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4209.9 million by 2027. The Canada market is experiencing a CAGR of 20.9% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 19.9% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Open Source Services Market is Estimated 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.
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