Cloud Services Brokerage Market Size
How Are the key drivers contributing to the expansion of the cloud services brokerage market?
The surge in necessity for hybrid and multi-cloud strategies is projected to drive the cloud service brokerage market. A multi-cloud tactic enables various sectors to select the best suited computing environment for their requirements. Additionally, it facilitates the transfer of workloads between cloud service providers (CSPs). Adoption of a hybrid and multi-cloud blueprint boosts performance, cost-effectiveness, and scalability. As indicated in the Flexera 2021 State of the Cloud Report, which in March 2022 gathered responses from 753 global cloud decision-makers and users, organizations are extensively incorporating a multi-cloud strategy, with an approximated 92% of the companies committing to a multi-cloud approach. Consequently, the escalating demand for hybrid and multi-cloud strategies will act as a catalyst for the growth of the cloud service brokerage market.
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What growth opportunities are expected to drive the cloud services brokerage market’s CAGR through 2034?
In the past few years, there has been a substantial expansion in the market size for cloud services brokerage. The market is set to escalate from $10.34 billion in 2024 to $11.35 billion in 2025, marking a compound annual growth rate (CAGR) of 9.7%. Factors such as accelerated adoption of cloud services, intricate multi-cloud environments, the necessity for smooth integration and interoperability, the call for uncomplicated cloud management, and a focus on cost reduction and efficacy have contributed to this growth during the historical period.
Forecasted to expand rapidly in the upcoming years, the size of the cloud services brokerage market is anticipated to reach $20.4 billion by 2029, with a compound annual growth rate (CAGR) of 15.8%. The predicted growth can be linked to the focus on improving customer experience, the shift towards automation and self-service, the integration of AI and automation, trends in service aggregation and customization, and the emphasis on interoperability and integration. In the forecast period, notable trends will include hybrid and multi-cloud adoption, burgeoning demand for simplified cloud management, the surge in digital transformation initiatives, focus on cost-saving and efficiency, as well as the adoption of brokerage services for governance.
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What are the emerging trends shaping the future of the cloud services brokerage market?
Innovations in cloud technology are becoming increasingly prevalent trends in the cloud service brokerage sector. Leading businesses in this market are geared towards supplying cutting-edge solutions to bolster their market standing. They are incorporating future-oriented cloud services brokerage technologies, like Internet of Things (IoT), Artificial Intelligence (AI), microservices architecture, blockchain, virtualization, service-oriented architecture, multi-clouds, among others, to augment their offered service by enhancing particular abilities and extending value-added services. For instance, BeyondTrust, in January 2024, unveiled a substantial upgrade to its privileged access management (PAM) solutions with the introduction of its Cloud Privilege Broker. This innovative solution seeks to assist businesses in reclaiming command over their cloud infrastructure by addressing multi-cloud privilege challenges.
Which growth-oriented segments of the cloud services brokerage market are leading the industry’s development?
The cloud services brokerage market covered in this report is segmented –
1) By Service Type: Integration And Support, Automation And Orchestration, Billing And Provisioning, Migration And Customization, Security And Compliance
2) By Platform Type: Internal Brokerage Enablement, External Brokerage Enablement
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Verticals: Banking, Financial Services, And Insurance (BFSI), Telecommunications, Information Technology (IT) And Information Technology Enabled Services (ITeS), Government And Public Sector, Retail And Consumer Goods, Manufacturing, Energy And Utilities, Media And Entertainment, Healthcare And Life Sciences
Subsegments:
1) By Integration And Support: API Integration Services, Cloud Service Integration, Technical Support And Helpdesk
2) By Automation And Orchestration: Workflow Automation, Service Orchestration Tools, Resource Provisioning Automation
3) By Billing And Provisioning: Usage-Based Billing Solutions, Subscription Management, Resource Provisioning Services
4) By Migration And Customization: Cloud Migration Services, Custom Development And Configuration, Data Migration Solutions
5) By Security And Compliance: Security Assessment Services, Compliance Management Solutions, Risk Management Services
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What regions are leading the charge in the cloud services brokerage market?
North America was the largest region in the cloud services brokerage market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud services brokerage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the cloud services brokerage market?
Major companies operating in the cloud services brokerage market include accenture* PLC, Capgemini SE, DXC Technology Company, Wipro Limited, The International Business Machines Corporation, International Business Machines Corporation (IBM), VMware Inc., Jamcracker Inc., ActivePlatform LLC, Arrow Electronics Inc., Cloudmore Group AB, iPortalis Ltd., Cognizant Technology Solutions Corporation, InContinuum LLC., Flexera LLC., BitTitan Inc., OpenText Corporation, CloudFX Inc., Proximitum Ltd., Eshgro B. V., NEC Corporation, Amazon. com Inc. (AWS), CloudSME UG, Shivaami Cloud Services Pvt. Ltd., NTT Data Corporation, Infosys Limited, Nephos Technologies Ltd., DoubleHorn LLC, Dell Technologies Inc., Tech Mahindra Limited, RightScale Inc.
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What Is Covered In The Cloud Services Brokerage Global Market Report?
•Market Size Forecast: Examine the cloud services brokerage market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the cloud services brokerage market for a structured understanding.
•Key Players Overview: Analyze major players in the cloud services brokerage market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the cloud services brokerage market.
•Segment Contributions: Evaluate how different segments drive overall growth in the cloud services brokerage market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the cloud services brokerage market.
•Industry Challenges: Identify potential risks and obstacles affecting the cloud services brokerage market.
•Competitive Landscape: Review strategic developments in the cloud services brokerage market, including expansions, agreements, and new product launches.
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