Big Data as a Service Market Report 2022-2027, Industry Share, Size, Growth, Trends and Opportunities
Big Data as a Service Market Report 2022-2027, Industry Share, Size, Growth, Trends and Opportunities
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According to IMARC Group’s latest report, titled “OpenStack Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global openstack service market exhibited strong growth during 2015-2020. OpenStack service refers to collecting open-source software modules that create and manage heterogeneous storage and network resources within an IT organization. It includes computing services, like object and block storage, networking, and shared file systems. OpenStack service aids in the automation of cloud maintenance and provides a remote view of other cloud storage devices. It also enables users to access, modify, and share the source code freely.
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The global OpenStack service market is primarily driven by their growing adoption of cloud-based services across various organizations. These services provide a framework for organizing and managing cloud-based infrastructure, web hosting, and SaaS (software-as-a-service) delivery. Furthermore, OpenStack services offer various advantages, such as cost savings, customization, value-added services, and innovation in the product line, which are positively influencing the market growth. Besides this, the market is increasingly gaining traction due to the free availability of the platforms, ease of setup, and widespread adoption of big data analytics across small and medium-sized businesses (SMEs). Moreover, technological advancements have increased the capacities for heterogeneous enterprises by providing better speed and developer experience. These factors are expected to provide a positive outlook to the market in the upcoming years. Looking forward, IMARC Group expects the market to grow at a CAGR of 27.4% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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