Open source is a development method for software that harnesses the power of distributed peer review and transparency of process. The promise of open source is better quality, higher reliability, more flexibility, lower cost, and an end to predatory vendor lock-in.
You don’t need to pay for expensive licenses or server requirements. In fact, these are heavy initial investments in any web development project. Open source development also reduces your development time thus it saves in development costs too.
Open source development offers total ownership of the code, so that developers can give and take codes to the other developers and hence, get benefited through various developmental techniques.
There is no encryption or compilation required, so anyone can work on the code and set free the owner to take services of any developer who is qualified to do so. Besides this, you can integrate your application with any platform or take help of add-ons, so you can extend its functionality at any extent.