Global Cloud Services Brokerage Market Overview
The key driver impacting the cloud services brokerage market is the Increasing adoption of cloud-based solutions by businesses. For instance, In 2018, more significant than half of the enterprises had adopted cloud computing across the globe. During the time 2012 and 2015, demand for cloud computing had to get to 70%, and it is possible to set 60% of growth during 2020. Furthermore, approximately 96% of companies have exploited at least one cloud software in the previous years as per the estimations by The BSA Global Cloud Computing Scorecard report. For example, Cloud Industry Forum (CIF) 2017 report reveals that the overall cloud adoption rate arrives at 88 percent, and 67 percent of users anticipated to augment their cloud services adoption in the future across the U.K. Moreover, the increased utilization of millimeter-wave technology in cloud services brokerages contributes to cloud services brokerage market demand in the coming years.
According to Value Market Research, the global cloud services brokerage market size was valued at about USD 6 billion in 2020 and is estimated to grow at a CAGR of around 17% during the forecast period 2021 to 2027.
The rising need for performance-oriented and cost-effective brokerage solutions will likely augment the need for a cloud services brokerage in the forecast period. However, regulatory compliance issues hamper the market in the long run. In addition, lack of awareness and security concerns is negatively impacting the market growth. Nevertheless, the industry trends, growing demand among SMEs, and Proactive investments by enterprises in cloud-based models might provide massive market opportunities to the market's key players.
The cloud services brokerage markets are widespread, with many local and international players. The market leaders follow diverse strategies to strengthen their market, such as extending product portfolio, acquisitions, contracts, amalgamation, product upgrades to raise their market share globally. The key players in the report are Telefonaktiebolaget LM Ericsson, Samsung Electronics, AT&T Inc., Huawei Technologies Co., Ltd, Qualcomm Technologies, Verizon Communications Inc., Nokia Corporation, Siklu Communication, Ltd, Mimosa Networks, Inc., and Cisco Systems, Inc. markets.
In this research report, the cloud services brokerage is segmented by platform, service type, deployment model, end-user industry, and region.
Analysis by Platform:
By platform, the report is categorized into external brokerage enablement and internal brokerage enablement. The external brokerage enablement segment dominates the platform segment with a high market share in 2020. It is because external brokerage enablement offers a multi-tenant cloud delivery and management platform to distributors, telecom service providers, distributors, and Value-Added Resellers. Moreover, the enablement platform also works together with various cloud service offerings on a common platform, contributing to the external brokerage enablement segment's growth in the forecast period.
Analysis by Service Type:
By service type, the report is segmented into integration and support, automation and orchestration, billing and provisioning, migration and customization, security and compliance, and other services (catalog management, backup and DR, reporting and BI, and API). The integration and support segment dominates the services segment with the highest share in 2020. The cloud service integrator is technically highly competent, and such types of providers join services from a range of cloud providers to generate a net-new business process. Also, Cloud Integrator creates automated workflows stand on the cloud that is usually incorporated by the customer, contributing to the growth of the integration and support segment in the forecast period.
Analysis by Deployment Model:
By Deployment Model, the report is devided into public, private, and hybrid. The public segment dominates the demography segment with the highest market share in 2020. The public model can make the general public access cloud services and share resources, such as compute, storage, and networking, with external entities exterior the organization as per the demand. Moreover, it is majorly adopted by organizations to meet their scalability needs, and it gives pay per usage pricing strategy with easy deployment, which adds to the growth of the public model segment in the forecast period.
Analysis by End-Use Industry:
By end-use industry, the report is categorized into Telecom & IT, BFSI, Retail & Consumer Goods, Government, Healthcare & Life Sciences, Manufacturing, and Others. The IT and telecom segment dominates the segment with the highest market share in 2020. It is due to the growing demand for CSB to manage PaaS, SaaS, and IaaS platforms across a range of organizations, together with a rapidly escalating demand for hybrid IT services globally. Moreover, the high demand for CSB from the IT and telecom industry to provide predictive analytics, request-driven provisioning, data harmonization, and agility contributes to the Telecom & IT segment's growth in the forecast period.
Analysis by Region:
In the regional outlook of the global cloud services brokerage market, the North America region dominates with a considerable market share in 2020. It is due to the existence of varied vendors and, therefore, the rapid adoption of cloud-based solutions during this region. On the other hand, APAC is predictable to hold the fastest-growing region in the coming years. It is due to the large-scale adoption of CSB in India, China, Singapore, New Zealand, and Australia. In addition, APAC consists of countries with a composite ecosystem of s government companies, startups, SMEs, and large multinational companies adopting and developing a range of important Information and Communications Technology (ICT) solutions that contributes to the tremendous market growth across the Asia Pacific.
Market Segmentation covered in the Report:
By Platform
- External Brokerage Enablement
- Internal Brokerage Enablement
By Service Type
- Integration And Support
- Automation And Orchestration
- Billing And Provisioning
- Migration And Customization
- Security And Compliance
- Other Services (catalog management, backup and DR, reporting and BI, and API)
By Deployment Model
By End User Industry
- Telecom & IT
- BFSI
- Retail & Consumer Goods
- Government
- Healthcare & Life Sciences
- Manufacturing
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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