New York, US, March 21, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Cloud Services Brokerage Market by Service, by Platform, by Organization Size, by Deployment Model and Forecast Till 2030”, the arket is predicted to thrive substantially during the assessment era from 2022 to 2030 at a healthy CAGR of approximately 15.3% to attain a valuation of around USD 19.6 Billion by the end of 2030.
The cloud services brokerage market is likely to garner significant traction during the current decade. The proliferation of cloud computing would drive the market demand, orchestrating more integration-bsased networks.
Cloud services brokerage (CSB) is an IT-led business model that enables providers to add one or more public/private cloud services for their customers via aggregation, integration, and customization brokerage. A cloud broker acts as the mediator between the purchaser and sellers of cloud computing services. A CSB enabler provides the necessary technology to implement and manage CSB for projects.
The cloud services brokerage model enables users to govern their cloud infrastructure without compromising the speed/agility of application development teams. A trusted cloud services broker enables streamlined tracking of changes and configurations by integrating service management processes.
Implementing the cloud services brokerage model provides users with upfront visibility into the cost of cloud service choices, reporting on usage, and managing the budget. CSB reduces the risk involved in security services migration to the cloud, ensuring that customers meet robust security standards.
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Market Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | USD 14.83 Billion (2030) |
| Growth during 2022-2030 | 16.4% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| 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. |
Segments
The cloud services brokerage market report is segmented into platforms, services, organization size, deployments, verticals, and regions. The platform segment is sub-segmented into internal brokerage enablement and external brokerage enablement. The service segment is sub-segmented into security & compliance, training & consulting, support & maintenance, workload management, operations management, reporting & analytics, catalog management, and other services.
The organization size segment is sub-segmented into large and small & medium-sized enterprises. The deployment model segment is sub-segmented into public, private, and hybrid clouds.
The vertical segment is sub-segmented into IT & telecommunication, banking, financial services, insurance (BFSI), healthcare & life sciences, government & public sector, retail & consumer goods, energy & utilities, manufacturing, media & entertainment, and others. By regions, the global CSB market is segmented into the Asia-Pacific, Middle East and Africa, North America, Europe, and the Rest-of-the-World.
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Industry Trends
The growing need to monitor cloud services performance to prevent downtime drives the cloud services brokerage market. Solutions provided through cloud service brokerage can accelerate end customers' IT growth. Other benefits of cloud services brokerage, such as expertise to negotiate on customers' behalf, simplified operations, and reduced risk, boost the market size.
Increasing data breaches and security concerns plaguing the business on cloud data insecurity are key driving forces behind the market. Businesses are increasingly moving their critical workloads to the cloud to enhance flexibility and reduce IT costs. However, these changes increase security and visibility vulnerabilities that can compromise organizational security.
Cloud infrastructure has become imperative, especially for small and medium enterprises (SMEs), offering scalable infrastructure and capabilities available as services. Moreover, rapid digital transformation in SMEs and large organizations has led to cloud computing adoption, further requiring CSB solutions. Furthermore, the need to meet compliance requirements pushes the CSB market growth.
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Regional Analysis
North America leads the global cloud services brokerage market. With its large technological advancements, the region offers a favorable platform for the CSB market to evolve further. Besides, the early adoption of cloud services brokerage in all organizations across industries drives the growth of the market. The presence of notable market players and well-established technology development centers boosts the region's cloud services brokerage market share.
Europe derives the second-largest share in the global cloud services brokerage market. The increasing demand for security solutions in the growing number of businesses and the growing cloud computing market in this region boost the market size. Additionally, the rapid adoption of AI and cloud computing are some of the significant driving forces defining the growing cloud services brokerage market landscape. Also, the proliferation of artificial intelligence and intelligent connected devices escalates the region's market value.
The cloud services brokerage market is brisk in the Asia Pacific region. Vast AI advancements and the rise in the numbers of SMEs, alongside the growing e-commerce sector in the region, boost the cloud services brokerage industry. Furthermore, the growing cloud infrastructure and connectivity trends in this region propel the market growth. Increasing cyber-attacks in burgeoning IT & telecom, BFSI, and healthcare push the growth of the CSB market in the European region.
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Competitive Analysis
Fiercely competitive, the cloud services brokerage market appears fragmented, with the presence of many technology providers accounting for a substantial market share. They make substantial investments in transforming the future business landscape. Also, they incorporate strategic initiatives such as collaboration, mergers & acquisitions, expansion, and product & technology launches, to gain a larger competitive share.
For instance, on Feb. 28, 2023, Netacea, a leading bot detection and mitigation solutions provider, announced that Utah-based technology solutions broker, Telarus, partnered with it to provide Netacea's AI-powered bot management technology to its global network of technology consultants.
Telarus is a leader in Technology Solutions Brokerage (TSB) space, catering to clients' needs for cloud, unified communications, network services, contact centers, cybersecurity, IoT, and mobility. Telarus chose Netacea as its dedicated bot management and detection supplier because of its innovative solutions and agentless approach to identifying and thwarting sophisticated threats.
Netacea's enterprise bot management platform will enable Telarus to provide end-to-end security offerings to its global technology consultant's network. Netacea's bot detection solution leverages AI and web log analysis with real-time and historic trends to analyze user behavior and determine intent. Its technology can detect sophisticated threats, combining deep analysis of interactions & dashboards that address security and business context in the enterprise environment.
Players leading the global cloud services brokerage market include:
Atos (France), Accenture (Ireland), BT (UK), Cognizant (US), Capgemini (France), DXC Technology (US), IBM Corporation (US), Fujitsu (Japan), Infosys (India), Arrow Electronics (US), ActivePlatform (US), BitTitan (US), NEC Corporation (Japan), CloudFX (Singapore), and Wipro (India), among others.
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