OpenStack Service Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

OpenStack Service Market Insight

OpenStack service is a platform that uses pooled virtual resources to build and manage private and public clouds. It is a set of software tools to manage and build cloud computing platforms. The tool that comprises the OpenStack platform is called projects. These projects handle the core cloud computing services of networking, storage identity, and image service. More than a dozen projects can be also be bundled together to create unique, deployable clouds. 

OpenStack service is a series of commands called scripts, which are bundled into packages known as projects that create cloud environment. OpenStack service also lets users to deploy virtual machines and other instances that handle different tasks for managing a cloud environment. However, anyone can access the source code, make any changes or modifications that they need, and freely share these changes with the community.

Impact of COVID-19 on OpenStack Service Market

• COVID-19 pandemic has hit many lives and businesses on an unprecedented scale. The impact on businesses’ cloud adoption plans has increased rapidly. Many organizations are accelerating their move to the cloud, which led to an increase across a range of related decisions as companies prepare for future COVID-19 related shutdowns. 
• As physical interaction is no longer being accepted in any form of communication due to social distancing efforts, organizations and institutes around the world have made the sudden shift to digital solutions to retain productivity, and thus the growth of digital transformation is increasing across every region. 
• In addition, many companies from various industries have started to realize the benefits and value of cloud computing beyond the immediate need for remote work, and thus it is expected that many businesses will begin scaling up their digital transformation efforts and invest heavily in IT and cloud resources. Therefore, the rise in the demand for digitalization and adoption of cloud are expected to provide lucrative opportunities for the open stack service market in the upcoming years. 

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

Rise in adoption of cloud, increased demand for continuous security patches, easy & fast deployment, and advantage of wide community support are some of the key driving factors for the growth of the market. In addition, numerous benefits provided by OpenStack services, such as boosted scalability, maximum resource utilization, high compatibility, easy automation, fast development, and others, drive the adoption of these services among the end-users.  However, increased security issues and installation challenges restrain the growth of the market. Furthermore, growth in adoption of big data analytics, rise in adoption of internet-enabled devices, and rise in demand for cognitive demand are expected to provide lucrative opportunities for the market. 

Increase in adoption of cloud technologies: 

As technology is evolving, multiple organizations are adopting cloud technologies. OpenStack software enables companies to develop and offer cloud resources utilizing the standardized hardware, which helps the cloud to move away from proprietary platforms and embrace more innovative and accessible approaches to the cloud. IT, e-commerce, academic research, healthcare, media, finance, and many other sectors are expected to enhance their current business prospective with the help of OpenStack software. In addition, it offers scalability, flexibility, and cost efficiency, thus driving the growth of the market. 

Rise in demand for cognitive cloud: 

Cognitive technologies, such as machine learning and artificial intelligence, are used to reduce complexity and personalize experiences across multiple sectors. Such cognitive cloud technologies are now moving to the cloud, making it even more potent and powerful. IBM Watson is the most well-known example of cognitive cloud in action. OpenCog, another open source platform, allows developers and data scientists to develop artificial intelligence apps and programs. Thus, organizations are expected to witness cognitive cloud to integrate with OpenStack services to fulfill the demand, thus providing opportunities for the market. 

Installation challenges: 

The deployment of OpenStack is quite complex during the install phase as it is a suite of projects and each of those applications need to be configured to suit the user’s requirements. The installation is best carried out by a specialist to cover the range of complimentary skill sets that are required for an optimal setup, thus hindering the growth of the market  

Key benefits of the report:

• This study presents the analytical depiction of the global OpenStack service market along with current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global OpenStack service market share.
• The current market is quantitatively analyzed to highlight the global OpenStack service market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides detailed market analysis based on competitive intensity and how the competition will take shape in coming years. 

 OpenStack Service Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights