Dublin, Oct. 03, 2024 (GLOBE NEWSWIRE) — The “Cloud Services Brokerage Market by Service Type (Aggregation (Multi-Cloud, Data Integration, Automation & Orchestration), Intermediation (Security, Performance & Usage), Arbitrage (Marketplace, Service Catalog, Enablement)) – Global Forecast to 2029” report has been added to ResearchAndMarkets.com’s offering.
The cloud services brokerage market is expected to grow from USD 11.4 billion in 2024 to USD 26.2 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 18.0%
The report will help market leaders and new entrants with information on the closest approximations of the revenue numbers for the overall cloud services brokerage market and its subsegments. It will also help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
With technological advancement constantly introducing new cloud service options, companies rely on brokers’ knowledge to assist them in making the right decisions, avoiding vendor lock-in, and employing cost-efficient strategies, thereby underlining the increased role of CSBs in conditions of digitalization.
As per services types, the aggregation services hold the largest market share during the forecast period.
In the cloud services brokerage (CSB) market, aggregation services hold the largest market share due to their pivotal role in consolidating various cloud services into a unified platform. For businesses, these services offer the ability to assess, compare, and manage a diverse array of cloud services through one interface, such as infrastructure, applications, and storage services.
By maintaining a centralized catalog, aggregation brokers simplify the procurement process, streamline multiple solutions’ integration, and reduce vendor management complexity. By doing so, they can help drive operational efficiency and give flexibility by optimizing their cloud strategy and aligning cloud technologies to their needs.
Aggregation services cover multi-cloud management, data integration, and automation & orchestration as enterprises seek a robust, scalable, and secure but unified way to consume cloud services. This is seen in various sectors, such as finance, healthcare, and technology, which all want to make cloud services a natural extension of their current on-premise architecture. They have increasing data volumes and need the cloud to support their mission-critical applications.
The focus on network reliability, performance, and security drives enterprises to adopt aggregation services, which offer benefits such as billing consolidation and improved visibility. The growth of multi-cloud strategies is only likely to continue the development of demand, buoying the dominance of aggregation services in the CSB market throughout the forecast.
As per the cloud service model, PaaS will grow at the highest CAGR during the study period.
The PaaS (Platform as a Service) cloud service model in the cloud services brokerage market provides a comprehensive development and deployment environment that includes infrastructure, middleware, and development tools. It provides a coherent environment comprising infrastructure, middleware, and development tools so enterprises can create, implement, and control programs without complexities. It supports flexibility and scalability, which businesses can use as they transform into more cloud-native organizations.
The modality allows the development team to focus on coding and the application logic, which should expedite the development of the application and remove some of the operational complexity. Furthermore, CSBs assist in maximizing PaaS services by providing a single platform for service integration governance and cost management.
Notably, there will be increased demand for PaaS since companies use multi-cloud strategies and want quick openings that simplify software development while reducing costs. The next step involves growing demands for custom applications and ongoing digital transformation, making it a vital player among cloud service providers.
As per organization size, large enterprises hold the largest market share during the forecast period.
Large enterprises dominate the cloud services brokerage (CSB) market due to their extensive adoption of multi-cloud environments and the need to manage complex IT infrastructures efficiently. Enterprises dealing with large volumes of data processing, high availability, and stringent compliance and security requirements rely on robust cloud solutions.
Large firms can concentrate on strategic moves by outsourcing infrastructure management while exploiting cloud solutions with flexibility, scalability, and cost-effectiveness. Multinational businesses’ intricacy raises demand for CSB platforms that combine, tailor-make, and take care of different cloud services, providing a single point of control and increasing security levels in general. In addition, they have sufficient financial resources to engage in more advanced CSB solutions tailored to their specific needs.
As the digital transformation evolves, these are the customers most likely to take advantage of cloud-based services to improve business processes and operations, as well as to provide value-add messages through innovation, so their position in the market for CSB services could solidify given that the dependencies of large organizations on the cloud and the need to manage a diverse group of workloads in an efficient and automated way, would make the vision of large organizations securing their spot in the markets during the period beyond the forecast duration more likely.
The report provides insights on the following pointers:
- Analysis of critical drivers (growing adoption of cloud services, increasing digitalization across organizations, and growing technological advancements), restraints (security and data privacy concerns), opportunities (need for multi-cloud management and need for optimizing cost efficiency), and challenges (lack of skill professionals and integration of modern cloud solution with the legacy systems) influencing the growth of the cloud services brokerage market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the cloud services brokerage market.
- Market Development: Comprehensive information about lucrative markets – the report analyses the cloud services brokerage market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the cloud services brokerage market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and Accenture (Dublin), IBM (US), Broadcom (US), Arrow Electronics (US), Fujitsu (Japan), DXC Technology (US), Wipro (India), Eviden (France), AWS (US) and Infosys (India) among others in the cloud services brokerage market.
Key Attributes:
Report Attribute | Details |
No. of Pages | 258 |
Forecast Period | 2024 – 2029 |
Estimated Market Value (USD) in 2024 | $11.4 Billion |
Forecasted Market Value (USD) by 2029 | $26.2 Billion |
Compound Annual Growth Rate | 18.0% |
Regions Covered | Global |
Companies Featured
- Accenture
- IBM
- Broadcom
- Arrow Electronics
- Fujitsu
- Dxc Technology
- Wipro
- Eviden
- Aws
- Infosys
- Ntt Data
- Tcs
- Tech Mahindra
- Bmc Software
- Flexera
- Jamcracker
- Cloudmore
- Eshgro
- Opentext
- Incontinuum
- Compunnel
- Shivaami
- Bittitan
- Capgemini
- Oracle
- Cignex
- Activeplatform
- Cloudfx
- Cloudbolt
- Cloudsme
- Appdirect
- Morpheus Data
- Interworks.Cloud
- Racknap
- Spot
- Cloudbroker
For more information about this report visit https://www.researchandmarkets.com/r/c91b03
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- Cloud Services Brokerage Market