Open Source Services Market to Set Remarkable Growth by 2022

Major drivers for the Open Source Services Market include lower initial costs of software acquisition and licensing. The adoption of open source products enables companies to boost their productivity and work climate, as an employee can use the same open source tools at home without any licensing fee.

The manufacturing industry vertical is expected to lead open source services market during forecast period. The manufacturing companies would continue to adopt open source services, primarily for production planning, inventory planning, and demand forecasting. The Banking, Financial Services, and Insurance (BFSI) companies are expected to eventually adopt open source services. For instance, the adoption of open source services in the investment banking sector helps companies reduce their IT investments.

The increasing adoption of open source technologies across enterprises of all sizes is expected to be the key growth driver for the consulting services segment, and the implementation and training services segment. With the help of consulting services, customers can choose at any time to take back the work to be done internally.  Support, maintenance, and management services expected to hold the largest market size in the open source market, owing to quick integration and efficient resolution while handling compliances. Open source software has caught the attention of the consulting industry as service providers look to help companies develop various strategies.

The open source software provides new revenue options for the companies. The adoption of open source solutions helps the emerging companies to minimize the capital investments and the risk of vendor lock-ins. Accessibility to the source code of open source software enables companies to study and modify the software as per their requirements. This feature of open source products helps companies in boosting their performance without any additional cost.