Cloud Services Brokerage Market Research Report - Global Forecast till 2027

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 Sc

ID: MRFR/ICT/6652-HCR | November 2022 | Region: Global | 111 Pages         

Global Cloud Services Brokerage Market

The global cloud services brokerage (CSB) market is expected to register a CAGR of 16.4% during the forecast period to reach USD 14.83 billion by 2027.

Segmentation

By Service Security and Compliance Training and Consulting Support and Maintenance Workload Management Operations Management Reporting and Analytics Catalog Management
By Platform Internal Brokerage Enablement External Brokerage Enablement
By Organization Size Large Enterprise Small Enterprise Medium Enterprise
By Deployment Model Public Cloud Private Cloud Hybrid Cloud

Key Players

  • Accenture (Ireland)
  • Atos (France)
  • BT (UK)
  • Capgemini (France)
  • Cognizant (US)
  • DXC Technology (US)
  • Fujitsu (Japan)
  • IBM Corporation (US)
  • Infosys (India)
  • ActivePlatform (US)
  • Arrow Electronics (US)
  • BitTitan (US)
  • CloudFX (Singapore)
  • NEC Corporation (Japan)
  • Wipro (India)

Drivers

  • Reduction in the enterprise cost for the management of cloud assets
  • Increasing adoption of Hybrid IT and Multi-cloud Management
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Market Synopsis


The global cloud services brokerage (CSB) market is expected to register a CAGR of 16.4% during the forecast period to reach USD 14.83 billion by 2024.


An increasing number of enterprises are adopting cloud technology. The IT teams of the companies are required to perform the role of  enabling the enterprise’s use of cloud services. Cloud services brokerage is an IT role and business model in which an enterprise adds value to one or more (public or private) cloud services via three primary roles—aggregation, integration, and customization brokerage. A cloud service broker offers a package of technology, people, and methodologies to implement and manage CSB-related projects. The IT companies and service providers are able to unify the private and public cloud environment for their employees, customers and through their channels. Thus, the increase in the adoption of hybrid IT and multi-cloud management is a factor which drives the growth of this market. Along with this, the need for performance-oriented and cost-effective brokerage solutions is another driving factor for this market. However, the issues related to regulatory compliances are expected to limit market growth during the forecast period. Growing adoption of CSB in the small and medium enterprise (SME) across verticals offers lucrative opportunities to the key providers of CSB in the global market. Furthermore, the lack of awareness regarding CSB services and platforms is expected to be a challenge for the growth of the market.


Segmentation


The global CSB market has been segmented based on service, platform, organization size, deployment, vertical, and region/country.


By service, the global CSB market has been divided into security and compliance, training and consulting, support and maintenance, workload management, operations management, reporting and analytics, and catalog management.


By platform, the global CSB market has been divided into internal brokerage enablement and external brokerage enablement.


Based on organization size, the global CSB market has been divided into small- and medium-sized enterprise (SME) and large enterprise.


By deployment model, the global CSB market has been divided into public cloud, private cloud, and hybrid cloud.


On the basis of vertical, the global CSB market has been divided into IT and telecommunication, banking, financial services, and insurance (BFSI), healthcare and life sciences, government and public sector, retail and consumer goods, energy and utilities, manufacturing, media and entertainment, and others.


The global CSB market has been analyzed for four regions—North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.


Regional Analysis


The global CSB market is estimated to grow at a CAGR of 16.4% during the forecast period from 2019 to 2024. The geographic analysis of the global CSB market has been conducted for North America, Europe, Asia-Pacific, Middle East and Africa and South America.


North America accounted for the highest market share, owing to the strategic shift of enterprises adopting CSB solutions due to the increasing adoption of hybrid IT and multi-cloud management solutions. The US leads the market in North America as it is the most technologically advanced country and also it has a high adoption of cloud technology. Various initiatives are taken by key players in the form of partnerships with different technology players for product enhancement.


Europe is expected to be the second-largest market during the review period due to the rising need among enterprises to reduce the enterprise cost while maintaining the performance of the enterprise. These platforms and services offer improved agility and performance and manage and deliver multi-cloud services. Asia-Pacific is anticipated to be the fastest growing market in the global CSB market during the forecast period. The rise in the adoption of CSB services among SMEs and the growing adoption of cloud-based solutions are the key drivers for the growth of the market in Asia-Pacific.


Key Players


The key players in the global cloud services brokerage market are identified based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. These include Accenture (Ireland), Atos (France), BT (UK), Capgemini (France), Cognizant (US), DXC Technology (US), Fujitsu (Japan), IBM Corporation (US), Infosys (India), ActivePlatform (US), Arrow Electronics (US), BitTitan (US), CloudFX (Singapore), NEC Corporation (Japan) and Wipro (India).The key strategies adopted by most of the players are partnerships, agreements, and collaborations.


The other players in the global cloud services brokerage market include NTT DATA (Japan), Pax8 (US), Progressive Infotech (India), Tech Mahindra (India), Proximitum (UK), Neostratus Zrt (Hungary), and CLOUDREACH (UK).  cloud services brokerage market


Source: MRFR Analysis


Competitive Analysis


The global cloud services brokerage market is witnessing a high demand globally due to the rise in demand from industries such as BFSI and IT and telecommunication. Major players have opted for partnerships and new product development as their key organic growth strategies to strengthen their position in the market and cater to the demands of enterprises across verticals. For instance, in January 2019, DoubleHorn LLC (US), a cloud solutions provider and services broker, earned the Amazon Web Services (US) Advanced Consulting Partnership which expands DoubleHorn’s reach for the commercial and government sectors.


Intended Audience



  • Hosting service providers

  • Cloud infrastructure and service providers

  • Value-added resellers (VARs)

  • System Integrators (SIs) and aggregators

  • Cloud brokerage enablers

  • Government and local authorities

  • Technology consultants

  • Investors and venture capitalists

  • Compliance officers

  • Chief financial officers



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 14.83 Billion (2024)
  CAGR   16.4% (2019-2024)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units    Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by Service, Organization Size
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Accenture (Ireland), Atos (France), BT (UK), Capgemini (France), Cognizant (US), DXC Technology (US), Fujitsu (Japan), IBM Corporation (US), Infosys (India), ActivePlatform (US), Arrow Electronics (US), BitTitan (US), CloudFX (Singapore), NEC Corporation (Japan) and Wipro (India).
  Key Market Opportunities   Growing adoption of CSB in the small and medium enterprise (SME) across verticals offers lucrative opportunities to the key providers of CSB in the global market.
  Key Market Drivers   The rise in the adoption of CSB services among SMEs and the growing adoption of cloud-based solutions are the key drivers for the growth of the market in Asia-Pacific.


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Frequently Asked Questions (FAQ) :

The market is predicted to strike a double-digit CAGR of 16.4% between 2019 and 2024.

The segmental analysis in this report has been covered on the basis of service, platform, deployment, vertical, organization size, and region

The verticals that use the cloud service brokerage services are - IT and telecommunication, healthcare and life sciences, government and public sector, energy and utilities, banking, financial services, and insurance (BFSI), manufacturing, retail and consumer goods, media and entertainment, and others.

The deployment model based segments of the market are public cloud, private cloud, and hybrid cloud.

North America and Europe are assessed to hold the first and the second positions in the market respectively.