OpenStack Service Global Market Report 2024

The OpenStack service market size has grown exponentially in recent years. It will grow from $16.21 billion in 2023 to $20.18 billion in 2024 at a compound annual growth rate (CAGR) of 24.31%. The expansion witnessed during the historical period can be attributed to several factors including the flexibility and customization options offered, vendor neutrality, strong community support, and a culture of innovation and experimentation within the ecosystem.

The OpenStack service market size is expected to see exponential growth in the next few years. It will grow to $43.86 billion in 2028 at a compound annual growth rate (CAGR) of 27.4%. The anticipated growth in the forecast period is expected to be driven by the integration of edge computing, AI and machine learning capabilities, adoption of containers and Kubernetes technology, implementation of hybrid and multi-cloud strategies, and advancements in data management and governance practices. Key trends foreseen in the forecast period include the proliferation of AI-driven automation, efforts towards standardization and interoperability, convergence within ecosystems, enhancements in regulatory compliance measures, and the development of industry-specific solutions.

The anticipated surge in demand for hybrid and multi-cloud deployments is poised to drive substantial growth within the open-stack service market in the coming years. Hybrid cloud environments, combining private and public cloud services, and multi-cloud models, incorporating two or more public cloud services, are increasingly preferred by organizations for their ability to provide flexibility, scalability, resilience, and cost-effectiveness. Leveraging OpenStack in hybrid and multi-cloud setups allows organizations to optimize resource allocation dynamically across different cloud environments, considering factors such as performance, cost, and regulatory compliance. For instance, a report by CloudZero Inc. in December 2023 highlighted a significant adoption of hybrid and multi-cloud strategies among organizations, underscoring the driving force behind the growth of the open-stack service market.

Key players within the OpenStack service market are actively pursuing innovative technologies, exemplified by offerings such as OpenStack Platform 17.1, to enhance their competitiveness and profitability. OpenStack Platform 17.1 presents organizations with a robust and feature-rich cloud infrastructure platform for deploying and managing applications and services effectively. Notably, in June 2023, Red Hat Inc. launched OpenStack Platform 17.1 with heightened security features, targeting advanced use cases such as open virtualized radio access networks (RAN) and 5G standalone cores. This platform aims to empower service providers to optimize resource utilization, scale rapidly, and seamlessly transition from existing 4G investments to cutting-edge 5G network infrastructures.

In January 2021, Red Hat Inc. acquired StackRox Inc. signaling its commitment to enhancing the security capabilities of its OpenShift platform, a leading enterprise Kubernetes container platform closely related to OpenStack. StackRox Inc., a US-based software company specializing in Kubernetes-native security solutions, brought valuable expertise and technologies to Red Hat's ecosystem, further bolstering the security posture of its offerings in the dynamic cloud landscape.

Major companies operating in the openstack service market report are Dell Inc., Huawei Technologies Co. Ltd., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Hewlett Packard Enterprise Company, VMware Inc., NetApp Inc., Red Hat Inc., Rackspace US Inc., SUSE Software Solutions Germany GmbH, Canonical Ltd., Docker Inc., Nuage Networks, EasyStack Inc., Mirantis Inc., Bright Computing Inc., Trilio Data Inc., CloudFerro S.A., CloudEndure Ltd., Platform9 Systems Inc., Cloudscaling Group Inc., Piston Cloud Computing Co., Nebula Inc., Nexenta Systems Inc.

Europe was the largest region in the openstack service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the openstack service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the openstack service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

An OpenStack services is a modular cloud computing platform designed to provide a range of components and functionalities for building and managing both public and private clouds. Engineered to be highly scalable, interoperable, and customizable, OpenStack services empower users to deploy and oversee cloud infrastructure tailored to their individual requirements.

The main components are typically categorized as services and solutions. In the realm of technology or business, services commonly denote offerings provided by entities to address particular needs or requirements of their customers or clients. Deployment models for these services encompass both on-cloud and on-premise setups. Openstack is utilized across various sectors including information technology, telecommunications, banking and financial services, academia, as well as retail or e-commerce industries.

The OpenStack services market research report is one of a series of new reports that provides OpenStack services market statistics, including OpenStack services industry global market size, regional shares, competitors with OpenStack services market share, detailed OpenStack services market segments, market trends, and opportunities, and any further data you may need to thrive in the OpenStack services industry. This OpenStack services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The OpenStack service market includes revenues earned by entities by providing networking, image service, and database as a service. The market value includes the value of related goods sold by the service provider or included within the service offering. The OpenStack service market consists of sales of security and compliance tools, container platforms, storage solutions, cloud management platforms. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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