Cloud Services Brokerage
The Cloud Services Brokerage Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
How Big Is the Cloud Services Brokerage Market Size Expected to Be by 2034?
The market for cloud services brokerage has seen robust growth in recent times. An expected size of $10.34 billion in 2024 will escalate to $11.35 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.7%. Factors contributing to this historical growth include accelerated uptake of cloud services, complicated scenarios in multi-cloud environments, the necessity for trouble-free integration and interoperability, the requirement for uncomplicated cloud management, and a focus on cost optimization and efficiency.
Expectations are high for the cloud services brokerage market, which is predicted to experience significant expansion in the coming years. The market is forecasted to hit a size of $20.4 billion by 2029, boasting a compound annual growth rate (CAGR) of 15.8%. This projected growth during the forecast period is largely due to efforts towards bettering the customer experience, transition towards automation and self-service, integration of artificial intelligence and automation, service aggregation and customization, and focus on interoperability and integration. During the forecast period, major market trends are expected to include hybrid and multi-cloud adoption, the need for simplified cloud management, the surge of digital transformation initiatives, a focus on cost efficiency and optimization, and the uptake of brokerage services for governance.
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What Are the Emerging Segments Within the Cloud Services Brokerage Market?
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 Long-Term Drivers Are Shaping Cloud Services Brokerage Market Trends?
The cloud service brokerage market is predicted to expand as a result of the increasing need for hybrid and multi-cloud approaches. A multi-cloud strategy gives various sectors the flexibility to select the most suitable computing ecosystem for their needs. It additionally facilitates the transferring of workloads between myriad cloud service providers (CSPs). The use of a hybrid and multi-cloud framework enhances efficiency, cost-effectiveness, and scalability. The Flexera 2021 State of the Cloud Report, conducted in March 2022, incorporated responses from 753 global cloud decision-makers and users, revealing a widespread adoption of multi-cloud strategy among businesses, with an approximated 92% incorporating such an approach. As such, the prevalent requirement for hybrid and multi-cloud strategies will fuel the growth of the cloud service brokerage market.
Who Are the Top Competitors in Key Cloud Services Brokerage Market Segments?
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.
What Cloud Services Brokerage Market Trends Are Gaining Traction Across Different Segments?
Innovations in cloud technology are the leading trends increasing their presence in the cloud service brokerage market. Top companies in this market are concentrating on offering cutting-edge solutions in order to bolster their market standing. They are integrating pioneering technologies like Internet of Things (IoT), artificial intelligence (AI), microservices architecture, blockchain, virtualization, service-oriented architecture, multi-cloud, and others into their services. This allows them to improve specific competencies and provide value-added services in a particular service. For example, in January 2024, BeyondTrust unveiled a substantial upgrade to its privileged access management (PAM) offerings with the initiation of its Cloud Privilege Broker. The aim of this new solution is to assist organizations in regaining control over their cloud infrastructure to tackle multi-cloud privilege issues.
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Which Regions Are Becoming Hubs for Cloud Services Brokerage Market Innovation?
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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cloud Services Brokerage Market?
2. What is the CAGR expected in the Cloud Services Brokerage Market?
3. What Are the Key Innovations Transforming the Cloud Services Brokerage Industry?
4. Which Region Is Leading the Cloud Services Brokerage Market?
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