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OpenStack Service Market Growing at a CAGR 28.3% | Key Player Red Hat, Canonical, Mirantis, IBM, VMware

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OpenStack Service Market Growing at a CAGR 28.3% | Key Player Red Hat, Canonical, Mirantis, IBM, VMware

April 23
10:12 2020
OpenStack Service Market Growing at a CAGR 28.3% | Key Player Red Hat, Canonical, Mirantis, IBM, VMware

Canonical (UK), Cisco Systems (US), Dell EMC (US), HPE (US), Huawei (China), IBM (US), Mirantis (US), Oracle (US), Rackspace (US), Red Hat (US), SUSE (Germany), and VMware (US)
OpenStack Service Market by Component (Solution, Service), Organization Size (Large Enterprises, Small & Medium Enterprises), Vertical (IT, Telecommunication, Academic & Research, BFSI, Retail & E-Commerce), and Region – Global Forecast to 2022

The OpenStack Service Market is estimated to be USD 1.63 Billion in 2017 and is projected to reach USD 5.66 Billion by 2022, at a CAGR of 28.3% during the forecast period. Some of the major factors driving the growth of the OpenStack service market include fast and easy deployment of OpenStack solutions and services, no compulsion of vendor lock-in, and broad community support.

Based on component, the service segment of the OpenStack service market is expected to witness a higher growth rate than the solution segment from 2017 to 2022. The growth of the service segment is due to the growing need to simplify the maintenance, operation, and control of open source platforms. The high IT complexity of cloud has also supported the growth of services associated with the open source platform. The high cost of managing and monitoring enterprise-ready open source technologies is another factor driving the growth of the service segment.

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Based on organization size, the small & medium enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period

Based on organization size, the SMEs segment of the OpenStack service market is estimated to witness a higher growth rate than the large enterprises segment during the forecast period. SMEs have budget constraints on investing in IT infrastructure equipment, whereas implementing OpenStack infrastructure-as-a-service could save the additional costs incurred in purchasing licenses and supporting hardware. The benefits associated with the implementation of OpenStack service are expected to drive the adoption of OpenStack solutions by SMEs in the near future.

Based on vertical, the telecommunication segment is expected to grow at the highest CAGR during the forecast period

Based on vertical, the telecommunication segment of the OpenStack service market is expected to witness the highest growth in the coming years. This segment has accelerated the adoption of Network Function Virtualization (NFV) using OpenStack, to increase network agility and mitigate installation and management costs.

Technological giants, such as Canonical (UK), Cisco Systems (US), Dell EMC (US), HPE (US), Huawei (China), IBM (US), Mirantis (US), Oracle (US), Rackspace (US), Red Hat (US), SUSE (Germany), VMware (US), Platform9 Systems (US), EasyStack (China), and Bright Computing (US), offer OpenStack services to cater to the needs and demands of the market. These players have adopted various growth strategies, such as mergers & acquisitions, partnerships, and new product launches to enhance their growth in the OpenStack service market. Partnerships and acquisitions accounted for more than half of the overall growth strategies adopted by the major market players.

Red Hat focuses on both inorganic and organic growth strategies, such as partnerships, collaborations, acquisitions, and new product launches to achieve growth in the OpenStack service market. For instance, in November 2017, Red Hat introduced OpenStack Platform 12, the latest version of its Infrastructure-as-a-Service (IaaS) platform. In March 2017, the company collaborated with IBM (US) to accelerate the adoption of hybrid cloud with OpenStack. IBM will help customers in using the Red Hat OpenStack Platform and Red Hat Ceph Storage on IBM Private Cloud. This collaboration helped customers to adopt open source products and OpenStack cloud.

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Canonical majorly focuses on inorganic growth strategies to gain a competitive advantage in the OpenStack service market. For instance, in May 2017, Canonical collaborated with NetApp (US) to supply open cloud solutions based on Ubuntu OpenStack and NetApp storage. This collaboration will help enterprises build automated, scalable, and reliable private and hybrid clouds based on open technologies (Ubuntu, Ubuntu OpenStack, and Juju), making it easy for customers to integrate NetApp storage and data management solutions with Canonical’s Ubuntu OpenStack.

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