Openstack Service Market Highlights:
The global OpenStack service market witnesses a constant revenue increase. The growth attributes to the increasing adoption of cloud technology for data storage and the introduction of big data analytics. Cloud service usage is on the rise, which, alongside the rising cloud networking framework, drives the growth of the market. Moreover, the growing demand for organizing and managing heterogeneous storage and network resources in IT organizations escalates market growth.

According to Market Research Future (MRFR), the global OpenStack service market is projected to reach over USD 8 BN by 2023, registering a whopping 29% CAGR throughout the forecast period (2017-2023). Organizations deploy OpenStack to manage cloud-based infrastructure, web hosting, SaaS delivery (Software as a Service), and many more. Also, organizations adopt service offerings in their cloud-based services for numerous advantages like cost savings, customization, value-added services, and innovation in the product line.

Openstack Service Market helps to automate cloud maintenance and benefits by providing a remote vision of other storage devices in the cloud. Additionally, the increasing demand for cloud-based solutions and services boost the OpenStack service market globally. Furthermore, the OpenStack platform's availability and easy deployment in increasing numbers of SMEs boost the market's growth. The rapid growth in IoT technologies and on-demand network providers accelerate market growth.

Conversely, the lack of technical assistance and complexity in deployment are some of the major factors projected to impede market growth. Nevertheless, opportunities in value-added resellers' products would support the growth of this market throughout the projected period. The rising inclination of various small and medium-size business units towards cloud technology and advances in IoT technologies are forecasted to offer significant growth opportunities.

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Global Openstack Service Market Competitive Analysis:
The well-established OpenStack service market appears fragmented due to the presence of several key companies. Service providers incorporate strategies such as mergers & acquisitions, collaboration, expansion, and product launch to gain a competitive advantage. OpenStack companies focus on innovations and the development of new solutions, fueling the already intensified market competition.

Major Key Players:
Players leading the global OpenStack service market include Huawei (China), Canonical (UK), Cisco Systems (US), VMware (US), SUSE (Germany), Hewlett Packard Enterprise (US), Dell Inc. (US), Oracle Corporation (US), IBM Corporation (US), Rackspace (US), Red Hat (US), Mirantis (US), EasyStack (China), Platform9 Systems (US), Pactera Technology International Ltd. (China), Puppet (US), The Cloudscaling Group, Inc., (US), CDI LLC (US), Aptira (Australia), Techblue Software Private Limited (India), AQORN (US), Cyxtera Data Centers, Inc.(US), and Bright Computing (the Netherlands), among others.

Global Openstack Service Market Segmentation:
The report is segmented into five dynamics;
• By Component: Solution and Services (consulting services, installation & integration services, and support & maintenance services).
• By Deployment: Public Cloud, Private Cloud, and Hybrid.
• By Organization Size: SME and Large Enterprises.
• By Vertical: BFSI, IT & Telecommunication, Manufacturing, Retail, Government, and others.
• By Regions: Europe, Americas, Asia Pacific, and the Rest-of-the-World.

The Global Openstack Service Market Regional Analysis:
North America dominates the global OpenStack service market. The largest market share attributes to the presence of several notable players and the early adoption of cloud-based services in the region, improving the OpenStack infrastructure that can re-structure business functions & strategies. Besides, raising usages of private cloud and the adoption of BYOD (Bring Your Device) policy among organizations drives the growth of the market.

Moreover, advancements in cloud technology and vast numbers of networks due to the digital revolution across the industries influence the OpenStack service market growth. The US and Canada, with their increasing OpenStack service applications, hold considerable shares in the regional market. The North American OpenStack service market is projected to retain its dominance throughout the estimated period.

Europe holds the second-largest market share in the global OpenStack service market. The region has seen an increased application in IT & telecommunication sector in the region, fostering the market growth. Additionally, the market growth is fostered by the increasing adoption of advanced OpenStack services across the industries.

Furthermore, augmenting research and development in telecom industry technology related to network expansion increases the market size. The European OpenStack service market is anticipated to create a substantial revenue pocket during the assessment period.

The Asia Pacific OpenStack service market is emerging as a profitable market globally. Factors such as the high penetration of the Internet of Things and cloud-related technology in the region propel market growth.

Moreover, the increasing uptake of cloud-based services and enormous opportunities across businesses in the region influence the market's growth. The APAC OpenStack service market is expected to grow at an impressive CAGR during the predicted period.

Industry/ Innovation/ Related News:
November 06, 2020 ---- MTS, Russia's largest mobile operator and provider of media and digital services, announced its partnership with a UK-based computer software company Canonical Ltd. to leverage Canonical's Charmed OpenStack to power its next-generation cloud infrastructure.

The partnership aims to decrease time-to-market and speed up the deployment of new services, including toward MTS' expected future 5G deployment, and reduce the total cost of ownership (TCO) of cloud infrastructure. MTS also anticipates improved core technology expertise and set up a competence center for developing OpenStack-based solutions.

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