Evolve Business Intelligence has published a research report on the Global Cloud Services Brokerage Market, 2023–2033. The global Cloud Services Brokerage market is projected to exhibit a CAGR of around 16.84%during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Cloud Services Brokerage Market: Accenture, IBM, VMWARE, Jamcracker, ActivePlatform, Microsoft Corporation, Cloudmore, Wipro, DXC Technology, IPortalis
More Information: https://evolvebi.com/report/cloud-services-brokerage-market-analysis/
Market Highlights
The Global Cloud Services Brokerage market is projected to be valued at USD 35.24 Billion by 2033, recording a CAGR of around 16.84% during the forecast period. The Cloud Services Brokerage (CSB) market refers to a growing industry where intermediaries facilitate cloud services between cloud providers and consumers. CSBs offer a range of services, including aggregation, integration, customization, and management of cloud services to meet specific client needs. They help businesses optimize cloud usage, manage multiple cloud providers, ensure compliance, and enhance overall efficiency and cost-effectiveness in cloud operations. The market is driven by increasing cloud adoption, complexity in managing diverse cloud environments, and the demand for specialized expertise in cloud service management and integration.
The COVID-19 pandemic has led to supply chain disruptions leading to supply shortages or lower demand in the cloud services brokerage market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers to adopt various strategies to stabilize the company.
Segmental Analysis
The global Cloud Services Brokerage market has been segmented based on Service type, Platform type, Verticals
Based on the Service type, the market is segmented based on Integration And Supportt, Automation And Orchestration, Others. The Integration and Support segment dominates the Cloud Services Brokerage (CSB) market, as it encompasses critical services for integrating diverse cloud environments, managing interoperability challenges, and providing ongoing support to optimize cloud service performance and reliability for businesses.
Based on the Platform type, the market has been divided into Internal Brokerage Enablement, External Brokerage Enablement. The External Brokerage Enablement segment dominates the Cloud Services Brokerage (CSB) market, driven by increasing demand for third-party intermediaries to integrate and manage diverse external cloud services, optimize costs, and ensure seamless service delivery across multiple platforms.
Based on Verticals, the market has been divided into Banking, Financial Services, and Insurance, Telecommunications, IT, Others. The Banking, Financial Services, and Insurance (BFSI) sector dominate the Cloud Services Brokerage (CSB) market due to stringent regulatory requirements, increasing demand for data security, and the need for scalable, cost-effective IT solutions to manage large volumes of sensitive financial data.
More Information: https://evolvebi.com/report/cloud-services-brokerage-market-analysis/
Regional Analysis
The Cloud Services Brokerage market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, &Africa. North America dominates the Cloud Services Brokerage market due to several factors. Due to the strategic shift in business adoption of CSB solutions brought about by the growing use of hybrid IT and multi-cloud management solutions, which will spur market expansion in this region, the North American cloud services brokerage market is expected to dominate. The Asia-Pacific region has been witnessing remarkable growth in recent years. From 2023 to 2032, the Asia-Pacific Cloud Services Brokerage Market is anticipated to grow at the fastest rate. This is because, throughout the projected period, the global CSB market is expected to grow at the quickest rate. the expansion of cloud-based solution adoption as well as the increase in SMEs’ use of CSB services. Furthermore, the Asia-Pacific region’s fastest-growing cloud services brokerage industry was in India, while China held the greatest market share in this sector.
