Lucintel's latest market report analyzed that open source service provides attractive opportunities in the banking, financial services, and insurance (BFSI), IT and ITes, telecommunication, retail and ecommerce, manufacturing, healthcare & life sciences, and education sectors. The open source service market is expected to reach $XX billion by 2028 with a CAGR of 16% to 18%. In this market, managed service is the largest segment by service type, whereas healthcare & life sciences is largest by end use industry.

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Based on service type, the open source service market is segmented into professional services and managed services. The managed services segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the growing demand for managed services across industries as they provide all the necessary skillsets for managing and upgrading solutions, which are critical in open source environments.

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The Open Source Service Market is marked by the presence of several big and small players. Some of the prominent players offering open source service include IBM, Accenture, Mulesoft, Wipro, Databricks, Suse, and Cisco.

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