May 06, 2019: The global cloud services brokerage market size is estimated to reach USD 17.2 billion by 2025, according to a new study by Grand View Research, Inc. It is projected to expand at a CAGR of 17.3% during the forecast period. Cloud Service Brokerage (CSB) is a business model that helps plan and manage IT resources across all cloud models from numerous vendors whilst reducing compliance risk and total IT costs. It helps reduce business complexities through managing, integrating, orchestrating, and controlling multi-cloud environments on a centralized platform.
Additionally, enterprises can provide several cloud-based services from a single point of access, including administration, billing, and support, to their partners and customers. The significant rise in adoption of multi-cloud platforms to cater to the needs of various clients, vendors, and technology partners is likely to remain the key factor driving growth of the global cloud services brokerage market over the forecast period.
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Cloud service brokers help manage services implemented on hybrid clouds and integrate these platforms with the systems and cloud-based applications deployed at consumer's premises. The aim is to make services more secure and specific to the company. With the increasing use of cloud services for both B2B processes and back-office systems, integration and coordination of a high order is needed. Moreover, the rise of outsourcing of interdependent business processes to multi-cloud vendors makes business processes highly complex. This is likely to result in increased adoption of CSB solutions over the forecast period.
Rapid growth in demand for hybrid IT solutions across large enterprises coupled with growing need for storage and effective management of large volumes of enterprise data, is expected to lead the market toward a remarkable growth path over the forecast period. Furthermore, the rapid migration of Small and Medium Enterprises (SMEs) on cloud platforms - to reduce infrastructure costs and improve the ease of data accessibility - is expected to lead to high demand for cloud service brokerage solutions and services.
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Besides, rapidly increasing numbers of digital payment vendors and rising government initiatives aimed at the promotion of digital banking technologies are likely to foster growth of the cloud service brokerage market over the forecast period. Key market players focus on mergers and acquisitions to expand their service portfolios, customer base, and regional presence. However, the lack of awareness about the benefits of CSB solutions, coupled with the rising concerns related to cybersecurity among consumers, may hinder the growth over the forecast period.
Further key findings from the study suggest that:
- In 2018, North America captured a significantly high market share, attributed to a large number of data centers along with several large IT and cloud service providers
- Asia Pacific is expected to witness significant growth from 2019 to 2025, mainly due to growing adoption of cloud services in small and medium enterprises to reduce infrastructure costs and to sustain in a highly competitive environment
- Cloud vendor management segment is anticipated to witness robust growth over the forecast period owing to benefits of these services that allow efficient management of multi-cloud platforms for numerous vendors
- External brokerage enablement segment delivers multi-tenant cloud delivery and management platform, which assist applications such asdelegated administration, self-service cloud fulfillment, and channel enablement for distributors, cloud service providers, and resellers. This is expected to drive segment growth over the forecast period
- Prominent players operating in the cloud service brokerage market focus on mergers and acquisitions to deliver high security over multi-cloud platforms and to enhance their regional presence. For instance, BMC Software, Inc. acquired CorreLog, Inc. in October 2018 to deliver real-time security management to its mainframe customers.
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Global Cloud Services Brokerage Market Research Report: by Service (Security and Compliance, Training and Consulting, Support and Maintenance, Workload Management, Operations Management, Reporting and Analytics, Catalog Management), Platform (Internal Brokerage Enablement, External Brokerage Enablement), Organization Size (Large Enterprise, Small and Medium-Sized Enterprise), Deployment Model (Public Cloud, Private Cloud and Hybrid Cloud), Vertical (Banking, Financial Services and Insurance; IT and Telecommunications, Healthcare and Life Sciences, Government and Public Sector, Retail and Consumer Goods, Energy and Utilities, Manufacturing, Media and Entertainment and others), Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2024OverviewAccording to Market Research Future, the global cloud service brokerage market has been segmented based on service, platform, organization size, deployment, vertical, and region/country.The cloud computing activities of a cloud service broker are acquisition and assessment of customers, assessment of the marketplace, and setting up a legal agreement between the cloud technology provider and its customers.
Enterprises are able to reduce the operational cost incurred by the enterprise by adopting CSB solutions and services.
The major factor boosting market growth is the increasing adoption of hybrid IT and multi-cloud management.
The increasing adoption of cloud-based services and the rapid digital transformation of organizations in major economies offer lucrative opportunities for cloud service brokerage service providers in the market.
The regulatory compliance issues are a matter of concern and act as a restraint to this market.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/8124By service, the global cloud service brokerage market has been divided into security and compliance, training and consulting, support and maintenance, workload management, operations management, reporting and analytics, and catalog management.
This is because migration of workloads is a challenging task for the organizations, and the cloud service brokers help in addressing this challenge by offering workload management services.By platform, the global cloud service brokerage market has been divided into internal brokerage enablement and external brokerage enablement.
Market OverviewAccording to Market Research Future, the global cloud service brokerage market has been segmented based on service, platform, organization size, deployment, vertical, and region/country.The cloud computing activities of a cloud service broker are acquisition and assessment of customers, assessment of the marketplace, and setting up a legal agreement between the cloud technology provider and its customers.
Enterprises are able to reduce the operational cost incurred by the enterprise by adopting CSB solutions and services.
The regulatory compliance issues are a matter of concern and act as a restraint to this market.Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/8124Key PlayersThe key players in the global cloud service brokerage market are Arrow Electronics (US), BitTitan (US), CloudFX (Singapore), NEC Corporation (Japan) and Wipro (India), DXC Technology (US), Fujitsu (Japan), IBM Corporation (US), Infosys (India), ActivePlatform (US), Accenture (Ireland), Atos (France), BT (UK), Capgemini (France), and Cognizant (US).
The key strategies adopted by most of the players are partnerships, agreements, collaborations, and the launch of services and platforms.Segments:By service, the global Cloud Service Brokerage Market has been divided into security and compliance, training and consulting, support and maintenance, workload management, operations management, reporting and analytics, and catalog management.
The workload management segment is expected to grow at the highest CAGR during the forecast period.
This is because migration of workloads is a challenging task for the organizations, and the cloud service brokers help in addressing this challenge by offering workload management services.By platform, the global cloud service brokerage market has been divided into internal brokerage enablement and external brokerage enablement.
Cloud Service Brokerage (CSB) MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Cloud Service Brokerage (CSB) Market.
The growth sectors of the Cloud Service Brokerage (CSB) Market are identified with precision for a better growth perspective.The growing number of IT companies that are adopting for cloud services brokerage is expected to cast a positive impact on the global cloud services brokerage (CSB) market, reveals Market Reseach Future (MRFR).
MRFR states that the global cloud services brokerage market is likely to expand with a CAGR of 16.4% over the assessment period (2019 to 2024) and touch a substantial valuation of USD 14.83 billion by 2024.Industry NewsAugust 2019eXp Realty, a subsidiary of eXp World Holdings, Inc. announced the launch of a new program, eXp Realty Preferred Partners.
This program provides eXp Realty agents and their clients, a marketplace for trading home-buying services.Market InsightsThe high rate of adoption of cloud services brokerage across large enterprises and SMEs is expected to surge the market.
However, restraints like issues related to regulatory compliance and lack of awareness about CSB can hinder the cloud services brokerage market expansion.Segmental OverviewThe cloud services brokerage market has been segmented on the basis of service, platform, organization size, deployment model, and vertical.Based on the service, the global cloud service brokerage market has been segmented into security and compliance, support and maintenance, reporting and analytics, training and consulting, workload management, operations management, and catalog management.
Cloud service brokers help in resolving problems associated with the migration of workloads in an organization by offering workload management services.
Cloud Services Brokerage MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Cloud Services Brokerage Market.
The growth sectors of the Cloud Services Brokerage Market are identified with precision for a better growth perspective.The growing number of IT companies that are adopting for cloud services brokerage is expected to cast a positive impact on the global cloud services brokerage (CSB) market, reveals Market Reseach Future (MRFR).
MRFR states that the global cloud services brokerage market is likely to expand with a CAGR of 16.4% over the assessment period (2019 to 2024) and touch a substantial valuation of USD 14.83 billion by 2024.Industry NewsAugust 2019eXp Realty, a subsidiary of eXp World Holdings, Inc. announced the launch of a new program, eXp Realty Preferred Partners.
This program provides eXp Realty agents and their clients, a marketplace for trading home-buying services.Market InsightsThe high rate of adoption of cloud services brokerage across large enterprises and SMEs is expected to surge the market.
The growing need for multi-cloud management is prompting the need for hybrid IT, hence, the adoption of CSB is surging across multiple business verticals.
However, restraints like issues related to regulatory compliance and lack of awareness about CSB can hinder the cloud services brokerage market expansion.Segmental OverviewThe cloud services brokerage market has been segmented on the basis of service, platform, organization size, deployment model, and vertical.Based on the service, the global cloud service brokerage market has been segmented into security and compliance, support and maintenance, reporting and analytics, training and consulting, workload management, operations management, and catalog management.
Cloud Services Brokerage market is segmented by service type, platform, deployment model, organization size, vertical, and region. Among the platform segment, the internal brokerage enablement is expected to have the largest market share during the forecast period. The increasing employee demands for a single point of access to all cloud services, ranging from internally operated virtualized infrastructure and application services to externally provided cloud services such as Software as a Service (SaaS), is a driving factor for the internal brokerage enablement segment. A rapidly growing demand for hybrid Information Technology (IT) deployment models and unified security is driving the CSB market. However, the external brokerage enablement segment is expected to reach at the highest CAGR during the forecast period. In case of organization size, the SMEs segment is likely to reach at a higher CAGR during the forecast period, as SMEs require better methods to solve the complexities of cost optimization of their business processes and face greater resource crunch than larger enterprises. Cloud services have become a central part of the business processes in SMEs, due to ease of use, cost efficiency, and the flexibility offered. The CSBs enable SMEs to have a strict control of their service provisioning and cloud needs. This is expected to boost the demand for cloud services brokerage over the future. While using service type segment, operations management service type is expected to have large market size during the forecast period, owing to rising need to and improving customer onboarding that can be used by businesses to make informed decisions when it comes to understand the financial processes, to identify anomalies in the revenue cycle, and improving customer interactions. Furthermore, the workload management segment is expected to reach at the highest CAGR during the forecast period. The region segment is divided into North America, Europe, APAC, and LAMEA. North America is expected to have a large market share during the forecast period, due to the growing trends and increased cloud enablement activities cloud marketplaces. North America is the most advanced region in terms of technology adoption and infrastructure. Furthermore, the APAC is expected to grow at the highest CAGR during the forecast period. Key Players Profiled and Analysed in the Report HPE, RightScale, Dell, Wipro, Arrow Electronics, active platform, Cloudmore, InContinuum, DXC Technology etc.
