LeapZipBlog: Market-NewsFlash's blog: Cloud Services Brokerage Market Expected To Cross USD 14.83 Billion By 2024: Global Forecast News

Cloud Services Brokerage Market Expected To Cross USD 14.83 Billion By 2024: Global Forecast News

December 9, 2019 by Market-NewsFlash  

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 2024

Cloud Services Brokerage (CSB) 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.

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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.

According 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 strategic shift of enterprises towards cloud service brokerage due to the increasing need for an agile and performance-oriented solution is also driving the market growth. 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.

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Key Players

The 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.

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