Fastest Growing Segment in Cloud Services Brokerage Market is IT & Telecom Vertical during the Forecast Period

MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Cloud Services Brokerage Market.

Overview

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 global cloud services brokerage (CSB) market is expected to register a CAGR of 13.27% during the forecast period to reach USD 20.88 billion by 2032.

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.

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. The external brokerage enablement segment is expected to register the higher CAGR as it offers multi-tenant cloud delivery and management platform.

Based on organization size, the market has been segmented into large enterprise and small- and medium-sized enterprise (SME). The large enterprise segment is expected to have a greater market size during the review period. SMEs are expected to register the higher CAGR.

By deployment model, the global cloud service brokerage market has been divided into public cloud, private cloud and hybrid cloud. The hybrid cloud segment is expected to exhibit the higher CAGR during the forecast period.

On the basis of vertical, the global cloud service brokerage 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 IT and telecom vertical is expected to be the largest segment and is expected to register the highest CAGR during the forecast period.

By region, the global cloud service brokerage market has been segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America.

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.

Regional Analysis

The global cloud service brokerage market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to be the largest market as it is the most technologically advanced region and also the cloud adoption is high in this region. Also, the maximum number of leading market players are based in the US, which is expected to contribute to the market.