The software industry has made extensive strides around the world. The growing dependence and involvement of a large number of business sectors on software have unleashed a new era of growth. The varied number of operations and applications related to software is experiencing a boom. Open source services are one of them. Based on all these factors, the global open source services market will gain promising growth through the assessment period of 2018-2026.
Open-source software is a type of software with a source code that is accessible to all. Anyone can modify, inspect, and enhance it. Open source services offer services that rely on open source technologies across various servers, data integration software, and critical business solutions. All these offerings offer profitable growth opportunities for the open-source services market.
The large-scale utilization of open source services across the healthcare sector, manufacturing sector, BFSI sector, transportation sector, energy sector, logistics sector, and others will bring tremendous growth opportunities. Here are some advancements across major sectors that will help in accelerating the growth of the open-source services market.
Healthcare Sector
Open source services are attracting considerable demand from the healthcare sector. The collaborations and strategies by the players in the open-source services market for assisting in enhancing the fight against various diseases and disorders are proving to be a breeding ground for growth. For instance, the OpenTreatments Foundation and the Linux Foundation are collaborating to develop open-source gene therapies for rare genetic diseases. Such developments add extra stars of growth.
Banking Sector
The banking sector is also making use of open source services on a massive scale. The digitalization of the banking sector is assuring extensive growth prospects for the open-source services market. Various open-source solution providers are providing great technology support by partnering with financial institutions. Nymbus, a Banking-as-a-service solutions provider recently launched Red Hat OpenShift as the cloud platform for its digital banking ecosystem. This open hybrid cloud will prevent dependency on a particular vendor and encourage innovation.
Logistics Sector
The logistics sector is witnessing numerous developments in terms of technologies. The efficiency and management of logistics are crucial for its smooth functioning and seamless delivery of goods. Technology plays a major role in this. Many renowned companies offer open source solutions for the logistics sector. OpenTCS is a classic instance. It is an open-source logistics software that assists in managing transport vehicles smoothly. This open-source software also has a fleet management system that manages automatic vehicles effortlessly. Similar services are available for the logistics sector. Thus, all these factors bode well for the growth of the open-source services market.
Energy Sector
Energy conservation has become an important factor across the globe. The rapid depletion of fossil fuels has urged many companies to come up with a solution to enable efficient management of energy. Digital transformation has a crucial role in the efficient management of energy. For instance, Microsoft and Schlumberger recently announced a partnership to develop open-source technologies for enterprise-scale data management.
The increasing adoption of open source services across a large number of sectors will help in accelerating the growth prospects of the open-source services market to a great extent.
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