Cloud Service Brokerage Market To Hit $17.2 Billion By 2025 Owing To Increasing Adoption Of Cloud-Based Services Worldwide | Grand View Research Inc.

January 18 22:58 2021
Cloud Service Brokerage Market To Hit $17.2 Billion By 2025 Owing To Increasing Adoption Of Cloud-Based Services Worldwide | Grand View Research Inc.

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According to a report published by Grand View Research, the market is expected to witness exponential growth during the forecast period owing to the increasing adoption of cloud-based services among various end-user industries across the globe.

The global cloud service brokerage market size is estimated to reach USD 17.2 billion by 2025. It is projected to expand at a CAGR of 17.3% during the forecast period. Cloud Service Brokerage (CSB) is a business model that helps plan and manage IT resources across all cloud models from numerous vendors whilst reducing compliance risk and total IT costs. It helps reduce business complexities through managing, integrating, orchestrating, and controlling multi-cloud environments on a centralized platform.

Additionally, enterprises can provide several cloud-based services from a single point of access, including administration, billing, and support, to their partners and customers. The significant rise in adoption of multi-cloud platforms to cater to the needs of various clients, vendors, and technology partners is likely to remain the key factor driving growth of the global cloud services brokerage market over the forecast period.

Cloud service brokers help manage services implemented on hybrid clouds and integrate these platforms with the systems and cloud-based applications deployed at consumer’s premises. The aim is to make services more secure and specific to the company. With the increasing use of cloud services for both B2B processes and back-office systems, integration and coordination of a high order is needed. Moreover, the rise of outsourcing of interdependent business processes to multi-cloud vendors makes business processes highly complex. This is likely to result in increased adoption of CSB solutions over the forecast period.

Rapid growth in demand for hybrid IT solutions across large enterprises coupled with growing need for storage and effective management of large volumes of enterprise data, is expected to lead the market toward a remarkable growth path over the forecast period. Furthermore, the rapid migration of Small and Medium Enterprises (SMEs) on cloud platforms – to reduce infrastructure costs and improve the ease of data accessibility – is expected to lead to high demand for cloud service brokerage solutions and services.

North America cloud service brokerage (CSB) market size, by service, 2014 - 2025 (USD Billion)

 Cloud Services Brokerage Market Report Highlights

  • In 2018, North America captured a significantly high market share, attributed to a large number of data centers along with several large IT and cloud service providers

  • Asia Pacific is expected to witness significant growth from 2019 to 2025, mainly due to growing adoption of cloud services in small and medium enterprises to reduce infrastructure costs and to sustain in a highly competitive environment

  • Cloud vendor management segment is anticipated to witness robust growth over the forecast period owing to benefits of these services that allow efficient management of multi-cloud platforms for numerous vendors

  • External brokerage enablement segment delivers multi-tenant cloud delivery and management platform, which assist applications such asdelegated administration, self-service cloud fulfillment, and channel enablement for distributors, cloud service providers, and resellers. This is expected to drive segment growth over the forecast period

  • Prominent players operating in the cloud service brokerage market focus on mergers and acquisitions to deliver high security over multi-cloud platforms and to enhance their regional presence. For instance, BMC Software, Inc. acquired CorreLog, Inc. in October 2018 to deliver real-time security management to its mainframe customers

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Cloud Services Brokerage Market Segmentation

Grand View Research has segmented the global cloud computing market based on service, workload, deployment, enterprise size, end use, and region:

Cloud Computing Service Outlook (Revenue, USD Billion, 2016 – 2027)

  • Infrastructure as a Service (IaaS)

  • Platform as a Service (PaaS)

  • Software as a Service (SaaS)

Cloud Computing Workload Outlook (Revenue, USD Billion, 2016 – 2027)

  • Application Development & Testing

  • Data Storage & Backup

  • Resource Management

  • Orchestration Services

  • Others

Cloud Computing Deployment Outlook (Revenue, USD Billion, 2016 – 2027)

  • Public

  • Private

  • Hybrid

Cloud Computing Enterprise Size Outlook (Revenue, USD Billion, 2016 – 2027)

  • Large Enterprise

  • Small & Medium Enterprise

Cloud Computing End-Use Outlook (Revenue, USD Billion, 2016 – 2027)

  • BFSI

  • IT & Telecom

  • Retail & Consumer Goods

  • Manufacturing

  • Energy & Utilities

  • Healthcare

  • Media & Entertainment

  • Government & Public Sector

  • Others

Cloud Computing Regional Outlook (Revenue, USD Billion, 2016 – 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa (MEA)

List of Key Players in Cloud Computing Market:

  • Adobe Inc.

  • Alibaba Group Holding Limited

  • Microsoft Corporation

  • Oracle Corporation

  • Amazon.com Inc.

  • Google LLC

  • IBM Corporation

  • Salesforce.com Inc.

  • Workday, Inc.

  • SAP SE

Have Any Query? Ask Our Experts for More Details on Report: https://www.grandviewresearch.com/inquiry/5758/ibb

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Fog Computing Market – https://www.grandviewresearch.com/industry-analysis/fog-computing-market

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