The Cloud Services Brokerage by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cloud Services Brokerage, the cloud services brokerage market size has grown rapidly in recent years. It will grow from $9.54 billion in 2023 to $10.58 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to rapid adoption of cloud services, complexity in multi-cloud environments, need for seamless integration and interoperability, demand for simplified cloud management, cost optimization and efficiency..
The cloud services brokerage market size is expected to see rapid growth in the next few years. It will grow to $17.35 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to focus on enhanced customer experience, shift towards self-service and automation, integration of ai and automation, service aggregation and customization trends, emphasis on interoperability and integration. Major trends in the forecast period include hybrid and multi-cloud adoption, demand for simplified cloud management, rise of digital transformation initiatives, focus on cost optimization and efficiency, adoption of brokerage services for governance..
The growing demand for hybrid and multi-cloud strategies is expected to propel the cloud service brokerage market. A multi-cloud strategy allows different divisions to choose the optimal computing environment for their purposes. It also allows porting of workloads across cloud service providers (CSPs). Adopting a multi-cloud and hybrid architecture will improve performance, cost savings, and scalability. According to the Flexera 2021 State of the Cloud Report, in March 2022, which surveyed 753 global cloud decision-makers and users, organizations are broadly adopting a multi-cloud strategy, with an estimated 92% of businesses adopting a multi-cloud approach. Therefore, the growing demand for hybrid and multi-cloud strategies will drive the cloud service brokerage market growth.
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The cloud services brokerage market covered in this report is segmented –
1) By Service Type: Integration And Support, Automation And Orchestration, Billing And Provisioning, Migration And Customization, Security And Compliance
2) By Platform Type: Internal Brokerage Enablement, External Brokerage Enablement
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Verticals: Banking, Financial Services, And Insurance (BFSI), Telecommunications, Information Technology (IT) And Information Technology Enabled Services (ITeS), Government And Public Sector, Retail And Consumer Goods, Manufacturing, Energy And Utilities, Media And Entertainment, Healthcare And Life Sciences
Cloud Technological innovations are key trends in gaining popularity in the cloud service brokerage market. Major companies operating in the cloud services brokerage market are focused on providing technologically-advanced solutions to strengthen their market position. These companies are implementing next-generation cloud services brokerage technologies into their services, such as internet of things (IoT), artificial intelligence (AI), microservices architecture, blockchain, virtualization, service-oriented architecture, multi-cloud, and others to enhance a given service by strengthening some specific competence and providing value-added services. For instance, in December 2021, BeyondTrust, a US-based privileged access management company, launched a cloud privilege broker to assist their customers in regaining control of essential cloud infrastructure and improving communication and risk mitigation associated with multi-cloud entitlements.
The cloud services brokerage market report table of contents includes:
1. Executive Summary
2. Cloud Services Brokerage Market Characteristics
3. Cloud Services Brokerage Market Trends And Strategies
4. Cloud Services Brokerage Market – Macro Economic Scenario
5. Global Cloud Services Brokerage Market Size and Growth
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31. Global Cloud Services Brokerage Market Competitive Benchmarking
32. Global Cloud Services Brokerage Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Cloud Services Brokerage Market
34. Cloud Services Brokerage Market Future Outlook and Potential Analysis
35. Appendix
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