Open Source Service Market Size (2024 - 2029)

Open Source Service Market Analysis

The Open Source Service Market size is estimated at USD 34.99 billion in 2024, and is expected to reach USD 76.07 billion by 2029, growing at a CAGR of 16.80% during the forecast period (2024-2029).

While enterprise companies can benefit from the speed and flexibility of Open Source Service (OSS) tools to execute large-scale projects like digital transformation and data migrations, developers can start projects faster and with no initial cost outlay. These OSS allows working with a large group of developers who may be using the same tools or might have encountered similar problems and already have solutions to share.

• Everything from healthcare human resource management to medical wearables is powered by open source. Open source technology is ideal for use in the healthcare sector, where active collaboration between user and clinical communities and IT vendors allows for the development of solutions that maximize benefits to the provision of health and social care-according to a report released by the State of Open Source in June 2022, 77% of the businesses agreed that they adopted open-source software in the last year.
• Digital transformation and virtual connections became essential for organizations to survive as there was a shift for remote working post-Covid-19. Businesses adopted these free tools for a variety of tasks. According to Red Hat's State of Enterprise Open Source Report in 2022, 92% of IT leaders accepted that Open Source Services played an important role in shared solutions and crisis management during the challenging phase of the pandemic.
• Enterprises use various software assets from multiple sources, including internal, cloud, SaaS, and open source. They run anywhere and can be accessed via APIs and service calls from any location. APIs, serverless interfaces, vulnerable services, and opaque software assets contribute to the growing attack surface for these applications in this distributed environment. With the average company reporting 95% of API security incidents, APIs and service endpoints have emerged as preferred threat vectors. The number of security flaws involving APIs discovered in the OVE database between 2015 and 2021 increased by 540%. These factors may slow down the adaptation of the Open Source Service Market.
• During the ongoing COVID-19 pandemic, the demand for open-source service companies has seen an upward trend. Vendors in the market are using and expanding open source repositories containing datasets, models, visualizations, web and mobile applications, and more to innovate and build new solutions to combat the spread of the virus through generating awareness. For instance, Locale.ai created an open-source, interactive visualization of all known cases of COVID-19. The map provides live updates with new data as it becomes available.

Open Source Service Industry Segmentation

Anyone can view, modify, and distribute the code as they see fit in the Open Source Software. The software is created in a decentralized and collaborative manner, relying on peer review and community production that helps to use, change, and share source code with each other This scalable and adaptable software ensures that users having access to the source code can modify, improve, and redistribute it for more excellent reusability and accessibility. Programmers can use pre-existing code to enhance the software and even create new innovations. Ansible, Kubernetes, and Linux are well-known open-source projects.

The Open Source Service Market is Segmented By Service Type (Consulting and Implementation Services, Support, Maintenance, Management Services, Training Services), End-user Industry (Banking, Financial Services, Insurance, Telecom and IT, Manufacturing), and Geography.

The market sizes and forecasts are provided in terms of value (USD million).