OpenStack Services Market Size (2024 - 2029)

OpenStack Services Market Analysis

The OpenStack Services Market size is estimated at USD 22.81 billion in 2024, and is expected to reach USD 91.44 billion by 2029, growing at a CAGR of 32.01% during the forecast period (2024-2029).

The growing adoption of the pay-as-you-go model and the cost-effective IT infrastructure development in a virtual environment (where every workload is taken care of by the cloud vendors) are certain factors expected to drive market growth for OpenStack services globally.

• Enterprises across the world are inclined towards the adoption of cloud services. Oracle Corporation, the cloud giant, has predicted that owing to the cloud-related service offerings, 80% of the enterprise business functions will move to the cloud by 2025. In recent years, cloud service providers have experienced huge revenues and profit gains due to their professional and other cloud services. Microsoft, one of the fastest-growing cloud service providers, registered a year-on-year growth of 31% in Azure and other cloud services in 2022.
• The growth of cloud and industrialized services and the decline of traditional data center outsourcing (DCO) indicate a massive shift toward hybrid cloud infrastructure services. This is expected to drive the shift toward cloud IaaS and hosting. Owing to its benefits, professional cloud deployment is expected to experience an improved demand for these market segments.
• Infrastructure-as-a-Service (IaaS) is considered the third (lowest) level in the spectrum of cloud services, where a vendor provides clients with solutions such as pay-as-you-go access to storage, servers, networking, and other computing resources in the cloud. IaaS hardware is usually offered and managed by the organization by an external provider.
• Moroever , October 2023 - Ironic has announced the launch of infrastructure operators to modify existing nodes using the “service steps” framework. Servicing allows operators to leverage steps, like you would for cleaning or customized deployments, to perform actions to modify deployed nodes in an ACTIVE state.
• OpenStack is a dynamic and open cloud-computing solution that needs to be upgraded regularly. The new functions & features are added regularly, and other old functions are removed. This high-dynamic range of functions may create challenges for market growth.

OpenStack Services Industry Segmentation

OpenStack is an open-source platform that utilizes pooled virtual resources to build and manage private and public clouds. The tools that comprise the OpenStack platform, called projects, handle the core cloud-computing services of networking, computing, identity, storage, and image services. More than a dozen optional projects could also be bundled together to create unique, deployable clouds. As part of our market coverage, the adoption of OpenStack technologies is studied and categorized by deployment type, end users, and geographical coverage.

The openstack services market is segmented by deployment model (on-cloud and on-premise), end-user industry (information technology, telecommunication, banking and financial services, academic, and retail/e-Commerce), and geography (North America, Europe, Asia-Pacific, and Rest of the World). The market sizes and forecasts are provided in terms of value in USD for all the above segments.