Cloud Services Brokerage Market Overview
The Cloud Services Brokerage Market Size is expected to reach USD 35.24 Billion by 2033. The Cloud Services Brokerage industry size accounted for USD 6.45 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 16.84% from 2023 to 2033. 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.
Global Cloud Services Brokerage Market Synopsis
COVID-19 Impact Analysis
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.
Global Cloud Services Brokerage Market Dynamics
The major factors that have impacted the growth of Cloud Services Brokerage are as follows:
Drivers:
⮚    Increasing Cloud Adoption
As businesses across industries move towards cloud-based solutions to enhance flexibility, scalability, and cost-efficiency, the demand for CSBs has surged. CSBs help organizations navigate the complexities of multiple cloud environments, ensuring seamless integration and management.
Restraint:
- Security and Compliance Concerns
Security remains a top concern in cloud adoption. CSBs must navigate stringent regulatory requirements across different regions and industries, ensuring data protection, privacy compliance, and secure transmission of sensitive information. Security breaches and data vulnerabilities can erode client trust and hinder market growth.
Opportunity:
⮚    Advanced Security Services
With the increasing sophistication of cyber threats, CSBs have the opportunity to enhance their service offerings with advanced security solutions. This includes implementing robust identity and access management (IAM), threat detection, and encryption technologies to safeguard sensitive data and ensure regulatory compliance. CSBs can differentiate themselves by becoming trusted advisors in cybersecurity best practices.
Cloud Services Brokerage Market Segment Overview
By Service type
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.
By Platform type
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.
By Verticals
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.
Global Cloud Services Brokerage Market Regional Analysis
Based on region, the market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The area of North America is anticipated to dominate the market for the usage of Cloud Services Brokerage, followed by those in Asia-Pacific and Europe.
Cloud Services Brokerage North America Market
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.
Cloud Services Brokerage Asia Pacific Market
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.
Competitive Landscape
The competitive landscape includes key players (tier 1, tier 2, and local) having a presence across the globe. Companies such as Accenture, IBM, VMWARE, Jamcracker, and ActivePlatform are some of the leading players in the global Cloud Services Brokerage Industry. These players have adopted partnership, acquisition, expansion, and new product development, among others as their key strategies.
Key Market Players:
- Accenture
- IBM
- VMWARE
- Jamcracker
- ActivePlatform
- Microsoft Corporation
- Cloudmore
- Wipro
- DXC Technology
- IPortalis
Key development:
Jan 2018: DXC Digital Directions series, authored by the company’s global technology leaders, explores digital opportunities for enterprises to gain actionable, data-driven insights, drive better customer experiences, increase employee performance, and deliver better business outcomes.
Scope of the Report
Global Cloud Services Brokerage Market, by Service type
- Integration And Support
- Automation And Orchestration
Global Cloud Services Brokerage Market, by Platform type
- Internal Brokerage Enablement
- External Brokerage Enablement
Global Cloud Services Brokerage Market, by Verticals
- Banking, Financial Services,
- Telecommunications
- IT
- Others
Global Cloud Services Brokerage Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Benelux
- Nordic
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Indonesia
- Austalia
- Malaysia
- India
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of Middle East & Africa
| Parameters | Indicators |
|---|---|
| Market Size | 2033: USD 35.24 Billion |
| CAGR (2023-2033) | 16.84% |
| Base year | 2022 |
| Forecast Period | 2023-2033 |
| Historical Data | 2021 (2017 to 2020 On Demand) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Segmentations | Service type, Platform type, Verticals |
| Geographies Covered | North America, Europe, Asia-Pacific, South America, Middle East, Africa |
| Key Vendors | Accenture, IBM, VMWARE, Jamcracker, ActivePlatform, Microsoft Corporation, Cloudmore, Wipro, DXC Technology, IPortalis. |
| Key Market Opportunities | ·      Growing adoption of CSB in the small and medium enterprises (SMEs) across verticals offers lucrative opportunities to the key providers of CSB in the global market. |
| Key Market Drivers | ·      The rise in the adoption of CSB services among SMEs and the growing adoption of cloud-based solutions are the key drivers for the growth of the market in Asia-Pacific. |
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Cloud Services Brokerage Industry trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities analysis in the future
- Historical market size for the year 2021, and forecast from 2023 to 2033
- Cloud Services Brokerage market share analysis for each segment
- Competitor analysis with a comprehensive insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted by the key players including new product development, mergers and acquisitions, joint ventures, collaborations, and partnerships.
- To identify and understand the various factors involved in the global Cloud Services Brokerage market affected by the pandemic
- To provide year-on-year growth from 2022 to 2033
- To provide short-term, long-term, and overall CAGR comparison from 2022 to 2033.
- Provide Total Addressable Market (TAM) for the Global Cloud Services Brokerage Market.
