By Darya Efimova
According to Statista, the open source market was valued at $11.4 billion in 2017 and is estimated to grow to $32.95 billion by 2022, showing it has no intention of slowing down anytime soon.
Founded on the belief that collaboration and cooperation build better software, open source sounds closer to a utopian dream than to the cold digital world of programming. Research showed that open source code takes over proprietary one in applications at 57%. This has numerous benefits, such as speeding up the software development process or creating more effective and innovative software.
For example, open source frontend development frameworks, such as Angular, are often found in custom web apps, which allows companies to get their products to market at ever-increasing rates. In addition, companies tend to engage open source when at the cusp of technological innovation, especially when it comes to AR, blockchain, IoT, and AI.
Open source does present much potential for companies to innovate and truly tap into the next generation of technology. It boosts time to market and can prove to be an effective solution for most projects, as backed by the worldwide usage stats.
However, those thinking of engaging in open source should also take account of the associated challenges and risks, so as not to fall victim to any of the common pitfalls of using open source code.