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(USGovernment-News.Com, March 29, 2018 ) The Open Stack service market is projected to grow from USD 1.61 billion in 2017 to USD 5.68 billion by 2022, at a CAGR of 28.3% during the forecast period.
Factors such as fast & easy deployment, no compulsion of vendor lock-in, and wide community support are driving the growth of the Open Stack service market. However, the concern related to security is a key factor restraining the growth of the market. The anticipated increase in the number of Open Stack service providers and the high adoption rate in the telecoms vertical are some of the opportunities covered in this market report.
Open Stack 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.
expected to grow at the highest CAGR during the forecast period
Based on vertical, the telecommunication segment of the Open Stack 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 Open Stack, to increase network agility and mitigate installation and management costs.
Some of the major Open Stack service vendors include 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).
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