Cloud Services Brokerage Market Worth 15.03 Billion USD by 2023
PUNE, India, May 10, 2018 /PRNewswire/ --
According to a new market research report "Cloud Services Brokerage Market by Service Type (Catalog Management, Workload Management, Operations Management), Platform (Internal Brokerage, External Brokerage), Deployment Model, Organization Size, Vertical, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to grow from USD 6.78 Billion in 2018 to USD 15.03 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 17.3% during the forecast period.
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Browse 66 market data Tables and 35 Figures spread through 142 Pages and in-depth TOC on "Cloud Services Brokerage Market"
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An increasing adoption of hybrid IT and multi-cloud management is expected to drive the CSB market. Moreover, the effective pricing done through a cloud broker budgeting offers a proper alignment of resources, discount policies for customers, and shape a demand based on consumption. This is expected to further fuel the demand for CSB among the end-users.
The workload management segment is expected to grow at the highest CAGR during the forecast period
Based on service type, the CSB market has been segmented into operations management; catalog management; workload management; integration, reporting and analytics; security and compliance, and training and consulting. The workload management segment is expected to grow at the highest rate during the forecast period. A cloud service broker enables organizations to assess which on-premises workloads are cloud-ready, and assists the organizations in moving cloud workloads among different CSPs based on price and other associated factors. The migration of workloads seems challenging for organizations, and the brokers help in addressing the challenge by providing workload management services.
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The external brokerage enablement segment is expected to grow at a considerable CAGR during the forecast period
Based on platform, the CSB market has been segmented into internal brokerage enablement and external brokerage enablement. The external brokerage enablement segment provides a multi-tenant cloud delivery and management platform to telecom service providers, distributors and Value-Added Resellers, and cloud providers that help in providing various services, enablement of channels, and management of administration activities. The enablement platform also collaborates various cloud service offerings on a common platform. The external brokerage enablement segment is expected to grow, due to various business benefits and opportunities that it offers to technology and service providers.
The SMEs segment is expected to grow at a higher CAGR during the forecast period
Based on organization size, the CSB market has been segmented into large enterprises and Small and Medium-sized Enterprises (SMEs). The SMEs segment is expected to grow at a higher CAGR during the forecast period, as SMEs face greater resource crunch than larger enterprises and require better methods to solve the complexities of cost optimization of their business processes. Cloud services have become a central part of the business processes in SMEs, due to cost efficiency, ease of use, and the flexibility offered. The CSBs enable SMEs to have a strict control on their cloud needs and service provisioning. This is expected to fuel the demand for CSB over the next 5 years.
North America is expected to dominate the CSB market during the forecast period
The global Cloud Services Brokerage Market by region has been segmented into North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. North America is estimated to have the largest market size in 2018, owing to the presence of several vendors and rapid adoption of cloud-based solutions in this region. The market in APAC is expected to grow at the highest CAGR during the forecast period, owing to the increase in awareness and adoption of cost-effective and scalable CSB.
The report also studies various growth strategies, such as mergers and acquisitions, partnerships and collaborations, and developments, adopted by the major players to increase their shares in the market. Major technology vendors in the CSB market include Accenture (Ireland), DoubleHorn (US), Jamcracker (US), IBM (US), HPE (US), RightScale (US), Dell (US), Wipro (India), Arrow Electronics (US), ActivePlatform (Belarus), Cloudmore (Sweden), InContinuum (Netherlands), DXC Technology (US), Cognizant (US), BitTitan (US), Nephos Technologies (UK), OpenText (Canada), ComputeNext (US), CloudFX (Singapore), Fujitsu (Japan), Tech Mahindra (India), Atos (France), Cloudreach (UK), Neostratus (Hungary), and Proximitum (UK).
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