Cloud Services Brokerage Market is expected to rise from its initial estimated value of USD 7.04 billion in 2018 to a projected value of USD 26.49 billion by 2026, registering a CAGR of 18.01% in the forecast period of 2019-2026. This rise in market value can be attributed to ease in usage and identifying of cloud services and solutions with the adoption of this service.
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Market Definition: Global Cloud Services Brokerage Market
Cloud services brokerage is a service provided by third party to the cloud services available to the consumers on their behalf. They act as a broker between the cloud providers and the consumers to the cloud through the help of three major functions namely, aggregation, integration & customization brokerage. These brokerage services are an add-on to the existing services given along with the cloud and are not similar to them.
- Growth in the rate of adoption of multi-cloud services and management activities inducing the growth of the market
- With the application of this service the operating cost of business enterprises are reduced significantly; this factor is driving the market growth
- Complications associated in complying with the various regulations posed by the authorities of different regions; this factor is expected to restrain the market growth
- Struggles in portability of applications in cloud services is expected to restrain the market growth
Key Developments in the Market:
- In June 2018, Atos SE announced the launch of a new “Cloud Access Security Broker (CASB) Service” employing McAfee’s “Skyhigh Security Cloud” for the protection of data and applications of various enterprises available in the cloud. This service will provide consistent & continuous protection of and will enhance the strategic offerings regarding hybrid cloud and various cloud services provided by Atos SE.
- In June 2018, FUJITSU announced that they are planning to expand their existing cloud services portfolio wherein they are offering enhanced functionality for the migration of systems to the Hybrid IT infrastructure. They are also planning to increase their collaboration with cloud providing vendors helping them provide consumers with efficient integration of consumer-specific cloud requirements.
Major Market Competitors/Players
Wipro Limited; Cloudmore; Nephos Technologies; IBM Corporation; Hewlett Packard Enterprise Development LP; Accenture; Dell; Tech Mahindra Limited; Neostratus Zrt.; DXC Technology Company; ActivePlatform Limited; Cognizant; Arrow Electronics, Inc.; Jamcracker, Inc.; InContinuum Software B.V.; FUJITSU; Atos SE; ComputeNext Inc.; BitTitan, Inc.; RightScale, Inc.; DoubleHorn,; Open Text Corporation; CloudFX; Cloudreach and Proximitum Software Ltd. are few of the major competitors currently working in the cloud services brokerage market.
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Global cloud services brokerage market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cloud services brokerage market for global, Europe, North America, Asia-Pacific and South America.
Segmentation: Global Cloud Services Brokerage Market
- By Service Type
- Operations Management
- Catalog Management
- Workload Management
- Reporting & Analytics
- Security & Compliance
- Training & Consulting
- Support & Maintenance
- By Platform
- Internal Brokerage Enablement
- External Brokerage Enablement
- By Organization Size
- Small & Medium-Sized Enterprises (SMEs)
- Large Enterprises
- By Deployment Model
- Public Cloud
- Private Cloud
- Hybrid Cloud
- By Industrial Vertical
- Banking, Financial Services & Insurance (BFSI)
- Healthcare & Life Sciences
- IT & Telecommunications
- Retail & Consumer Goods
- Government & Public Sector
- Media & Entertainment
- Energy & Utilities
- Transportation & Logistics
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
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