openstack service market is expected to grow at a CAGR of 23.0% over the forecast period 2032

press release/- Market Research Future Published a Half Cooked Research Report on Global OpenStack service Research Report.

openstack service market Overview

Openstack is a set of software tools used for managing and building cloud computing platforms. OpenStack service Market is managed by a non-profit foundation which seeks development in cloud computing. OpenStack helps in deploying virtual machines which are helpful for managing entire cloud environment remotely. The OpenStack service market size is projected to grow from USD 28.3 Billion in 2024 to USD 147.8 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 23.0% during the forecast period (2024 - 2032). Openstack is an open source software which can be modified by the source code within the organization. Openstack helps users to quickly add a new instance, upon which other cloud components can run. Many enterprises have realized the significant cost savings over public and private cloud alternatives. The openstack operates under four principles such as open source, open community, open development and open design.

On the basis of vertical the segment is further classified into BFSI, IT & Telecommunication, manufacturing, retail, government, and others. In the constant changing retail, Openstack helps developers to build new applications which helps to obtain a  flexible infrastructure. In October 2017, Walmart Inc. an American multinational retail corporation deployed an openstack cloud which is more than 100,000 cores to deliver the needs of e-commerce 3.0 initiatives for desktop, mobile and kiosk users. Openstack offers zero vendor lock-in and vibrant ecosystem.

In November 2018, Hewlett Packard Enterprise, an American multinational enterprise information technology company partnered with Rackspace Inc. an U.S. based managed cloud computing company together launched First Pay-as-You-Go OpenStack Private Cloud. The solution benefit enterprises with various customization that supports the private cloud infrastructure by keeping the minimal pricing difference as compared to public cloud. Over the coming years, pay as you go consumption models will account for more than 50 percent of on-premises and off-premises datacenter asset spending by 2018. The rising demand for cloud-based services and need for scalability of colocation among data centers are driving the demand for openstack services globally.

Some of the key players in the field of global open stack service market are Canonical (U.K), Huawei (China), Cisco Systems (U.S.), SUSE (Germany), VMware (U.S.), Hewlett Packard Enterprise (U.S.), Oracle Corporation (U.S.), Dell Inc. (U.S.), IBM Corporation (U.S.), Red Hat (U.S.), Rackspace (U.S.), Mirantis (U.S.), Platform9 Systems (U.S.), EasyStack (China), Bright Computing (the Netherlands) and others. The key players are constantly innovating and investing in research and development activates to generate a cost-effective product portfolio. 

Some of the key innovators are Puppet (U.S.), Pactera Technology International Ltd. (China), The Cloudscaling Group, Inc., (U.S.), Aptira (Australia), CDI LLC (U.S.), Techblue Software Private Limited (India), Cyxtera Data Centers, Inc.(U.S.), AQORN (U.S.), and others.