Cloud Services Brokerage Market
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How Large Will the Cloud Services Brokerage Market Size By 2025?
Significant growth has been observed in the cloud services brokerage market size in the last few years. The market size, which stood at $10.34 billion in 2024, is expected to increase to $11.35 billion in 2025, marking a compound annual growth rate (CAGR) of 9.7%. Factors contributing to this growth during the historic period include swift adoption of cloud services, complexity in managing multiple cloud environments, the necessity for smooth integration and interoperability, a need for simplified cloud management, and demand for cost optimization and efficiency.
How Big Is the Cloud Services Brokerage Market Size Expected to Grow by 2029?
Predictions indicate a swift expansion in the cloud services brokerage market size over the next several years, swelling to an impressive $20.4 billion in 2029 at a compound annual growth rate (CAGR) of 15.8%. Factors like an emphasis on improving customer experience, a move towards automation and self-service, the incorporation of AI and automation, service aggregation and personalization tendencies, as well as a focus on integration and interoperability are expected to contribute significantly to the growth during the predicted period. Key market trends within this period are anticipated to be the increasing adoption of hybrid and multi-cloud, the need for streamlining cloud management, the surge in digital transformation endeavours, focus on cost control and efficiency, as well as the utilization of brokerage services for governance.
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Which Key Market Drivers Powering Cloud Services Brokerage Market Expansion and Growth?
The proliferation of hybrid and multi-cloud strategies is anticipated to spur growth in the cloud service brokerage market. Multi-cloud strategies allow various business units to opt for the most suitable computing environment for their needs, and make it possible to transfer workloads between different cloud service providers (CSPs). Embracing a multi-cloud and hybrid approach can enhance performance, result in cost savings and enhance scalability. The Flexera 2021 State of the Cloud Report published in March 2022 revealed that after surveying 753 global cloud decision-makers and users, it was found that a broad range of organizations had adopted a multi-cloud strategy, with an estimated 92% of companies following this approach. As a result, the rising demand for hybrid and multi-cloud strategies is poised to fuel the expansion of the cloud service brokerage market.
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Which Fast-Growing Trends Are Poised to Disrupt the Cloud Services Brokerage Market?
Innovations in cloud technology are becoming vital trends in gaining traction in the cloud service brokerage market. Several leading companies involved in the cloud services brokerage market are focusing their efforts on delivering cutting-edge solutions to enhance their market standing. They are integrating advanced cloud service brokerage technologies, such as Internet of Things (IoT), Artificial Intelligence (AI), microservices architecture, blockchain, virtualization, service-oriented architecture, multi-cloud, amongst others into their services. This integration aids in improving a particular service by fortifying specific abilities and offering added value services. For instance, BeyondTrust announced a notable improvement to the privileged access management (PAM) capabilities in January 2024 with the Cloud Privilege Broker’s introduction. This contemporary solution is designed to assist organizations in regaining control of their cloud infrastructure by tackling multi-cloud entitlement challenges.
What Are the Emerging Segments in 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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Who Are the Global Leaders 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.
Which are the Top Profitable Regional Markets for the Cloud Services Brokerage Industry?
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
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