Global Cloud Service Brokerage Market: Snapshot
Cloud service brokers act as the middlemen or the link between cloud service providers and consumers. These are organizations that assist the users with selecting the appropriate services that meet their requirements on a long-term basis. In recent years, the global cloud service brokerage market has been facing soaring demand due to the relentless uptake of cloud services by several industrial verticals. The research report states that the global cloud service brokerage market is expected to be worth US$22.4 bn by the end of 2024 as compared to US$3.3 bn in 2015. Between the forecast years of 2016 and 2024, the global market is expected to progress at a CAGR of 23.6%.
Pressing Need to Manage Data Effectively Encourages Uptake of Services Offered by Cloud Service Brokers
Analysts anticipate that the global cloud service brokerage market is likely to grow against the backdrop of the pressing need for better cloud service providers and integrators to achieve cost-effectiveness in business operations. Furthermore, the growing requirements of simplified deployment and troubleshooting are also expected to boost the market’s growth in the coming years. The only roadblock in the development of the global market is the fact that the global market is still in its nascent stage, which means fewer users are aware of the advantages it can offer.
North America to Remain at Forefront as Region Embraces Technological Advancements
On the basis of regions, the global cloud service brokerage market is segmented into North America, South America, the Middle East and Africa, Asia Pacific, and Europe. Of these, North America is expected to dominate the global market in the coming years due to the strong presence of a large number of cloud service brokers and the existing data centers in the region. The rapid adoption of cloud services in the region due to notable advancements in technology is expected to keep North America at the forefront in the global market.
Europe too is expected to make a significant mark in the global cloud service brokerage market due to increasing awareness about the benefits of deploying cloud services and using cloud service brokers in various organizations. Thus, the demand for cloud services and data centers in the region in expected to create a positive outlook for this regional market.
Telecom and IT Sector becomes Key Contributor to Rising Revenue of Global Market
The various end users of cloud service brokers are sectors such as the healthcare, telecom and IT, retail, government, energy, and BFSI among others, Out of these, the telecom and IT segment was the key contributor to the rising revenue of the global market in 2015. This segment is expected to show steady growth in the coming years due to the accelerated adoption of cloud services. The increasing complexity and volume of data and the need to manage it efficiently are also driving the telecom and IT segment to use services offered by cloud service brokers. In the coming years, the BFSI segment will follow the IT and telecom segment’s lead as the sector will look for ways to minimize costs of data handling.
The key players operating in the global cloud services brokerage market are Capgemini S.A., Jamcracker, Inc., ComputeNext Inc., Accenture plc, Cognizant Technology Solutions Corporation, Nephos Technologies Ltd, NEC Corporation, Green Cloud Technologies, LLC, Appirio, Inc., Blue Wolf Group LLC, Dell Inc., and Cloud Sherpas, Inc. Currently, the market faces a high degree of competition due to the presence of several large players in the market.
Global Cloud Service Brokerage Market: Overview
Cloud service brokerage refers to an intermediary acting between a company or a third party and a potential customer of cloud computing service. Services such as aggregation, integration and customization are provided by the broker to suit the cloud adoption needs of the customer. The global cloud service brokerage market has been showcasing considerable growth potential owing to the rising demand for cloud services. The rise in adoption of hybrid cloud model is also adding to the growth in cloud service brokers. Additionally, increasing vendor management issues is one of the key elements contributing to the rise in demand for cloud services.
Global Cloud Service Brokerage Market: Drivers and Restraints
The need to find new cloud services providers and integrators, along with the need for support, troubleshooting, and simplified deployment has contributed significantly towards the cloud service brokerage market as cloud service brokerage addresses these concerns. Integrating cloud-based solutions with enterprise computing infrastructure is gradually becoming complex. This is leading to a growing demand in adoption of cloud service brokerage for small, medium, and large enterprises as cloud service brokerage assists in the easy acceptance of the cloud in industries with rigorous data protection needs. However, owing to the nascent state of the cloud service brokerage market, there is a lack of awareness among small and medium sized enterprises regarding the existence and benefits of the market. This is expected to hinder the growth of the cloud service brokerage market during the forecast period.
Global Cloud Service Brokerage Market: Segmentation
This research report provides an in-depth analysis of the global cloud service brokerage market based on enterprise size, services, solution, end-use industry, and geography. Furthermore, the report provides complete insights into different cloud services through component segmentation, which includes cloud service aggregation, cloud service integration, and cloud service customization. The end-use industries for the global cloud service brokerage market are banking, financial services & insurance (BFSI), telecom and information technology (IT), health care, retail, government, energy, and others. The report analyzes each of these segments for the various geographies considered under the scope of the study.
Global Cloud Service Brokerage Market: Regional Outlook
Based on geographical regions, the report segments the global cloud service brokerage market into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America, which are analyzed in terms of revenue generation. North America is further segmented into the U.S., Canada and Rest of North America, while Europe is divided into the U.K., Germany, France, Italy and Rest of Europe. Asia Pacific has been subdivided into Japan, China, India, and Rest of Asia Pacific. MEA has also been further segmented into South Africa, UAE and Rest of MEA, while South America has been subdivided into Brazil, Argentina, and Rest of South America.
The report also provides an analysis of the factors that drive and restrain the growth of the cloud service brokerage market. It discusses the prevailing market trends, prospective growth opportunities, and major strategies increasing the popularity of the global cloud service brokerage market. It provides market estimates and forecasts for all the segments in terms of revenue. Also provided in the report is the market share of key players. Based on segment revenues, the market share of key players have been estimated. The report also provides industry evolution, value chain analysis, and Porter’s Five Forces Analysis for the global cloud service brokerage market.
Key Players Mentioned in the Report are:
Major business strategies adopted by key players, their SWOT analysis, and competition matrix have also been identified in the research report. The key market players profiled in this study include CapGemini S.A., Jamcracker, Inc., ComputeNext Inc., Accenture plc, Cognizant Technology Solutions Corporation, Nephos Technologies Ltd, NEC Corporation, Green Cloud Technologies, LLC, Appirio, Inc., Blue Wolf Group LLC, Dell Inc. and Cloud Sherpas, Inc.
Global Cloud Service Brokerage Market
By Enterprise Size
- Small and Medium Enterprises (SMEs)
- Large enterprises
- Cloud Service Aggregation
- Cloud Service Integration
- Cloud Service Customization
- Technology Enablement
- By Enabler
- By Provider
By End-use Industry
- Cloud Service Aggregation
- Cloud Service Integration
- Cloud Service Customization
- North America
- The U.S.
- Rest of North America
- The U.K.
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Rest of MEA
- South America
- Rest of South America