Openstack Services Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Openstack Services market in 2021?

The global Openstack Services market size in 2021 was estimated to be USD 3.5 billion. With a Compound Annual Growth Rate (CAGR) of 15.2%, the market is expected to reach USD 9.8 billion by 2028.

COVID-19 Impact on the Openstack Services Market

The COVID-19 pandemic has significantly impacted the Openstack Services market globally. Due to lockdowns and restrictions, many organizations have accelerated their digital transformation initiatives, leading to an increased demand for cloud services, including Openstack. This surge in demand has positively impacted the market growth, with more businesses adopting Openstack solutions to support remote work environments.

Openstack Services Dynamics

The Openstack Services market is dynamic and evolving rapidly. Key drivers of market growth include the increasing adoption of hybrid cloud solutions, rising demand for scalable and flexible cloud infrastructure, and the growing trend of digitalization across industries. However, challenges such as security concerns, data privacy issues, and the complexity of Openstack deployments pose obstacles to market expansion.

Segments and Related Analysis

The Openstack Services market can be segmented based on service type, deployment model, organization size, and industry vertical. Service types include IaaS, PaaS, and SaaS, while deployment models include public cloud, private cloud, and hybrid cloud. By organization size, the market can be classified into small and medium-sized enterprises (SMEs) and large enterprises. Industry verticals driving market demand include IT & Telecom, BFSI, Healthcare, Retail, and others.

By Region Analysis

The Openstack Services market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America currently leads the market due to the presence of key market players, technologically advanced infrastructure, and high adoption rates of cloud services. However, the Asia Pacific region is expected to witness the fastest growth rate, driven by increasing investments in cloud technology and digital transformation initiatives.

Key Market Players and Competitive Landscape

Some of the key players in the Openstack Services market include Red Hat, VMware, Cisco Systems, IBM, Mirantis, Canonical, SUSE, Huawei, OpenStack Foundation, and Platform9. These companies compete based on product offerings, pricing strategies, partnerships, and technological advancements. Strategic collaborations, mergers, and acquisitions are common in the competitive landscape of the Openstack Services market.

Recent happenings in the Openstack Services Market

1. In January 2022, Red Hat announced the launch of Openstack Platform 20, offering enhanced security, scalability, and performance features to customers.

2. VMware introduced new Openstack-based solutions for multi-cloud management in March 2022, catering to the growing demand for hybrid cloud environments.

3. IBM partnered with major telecom providers to deploy Openstack-based cloud solutions for network virtualization services in April 2022, expanding its presence in the telecommunications sector.

4. Mirantis acquired a leading Openstack services provider to strengthen its market position and expand its service portfolio in June 2022, marking a significant development in the industry.

5. Canonical collaborated with industry leaders to deliver Openstack-based solutions for edge computing applications in September 2022, addressing the growing need for edge infrastructure in modern IT environments.