PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1681338
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1681338
The global cloud services brokerage (CSB) market was valued at approximately USD 8.9 billion in 2023 and is expected to grow at a CAGR of 17.3% from 2024 to 2032, reaching around USD 37.42 billion by 2032. The increasing complexity of multi-cloud environments, the growing demand for cost-optimization, and the rising emphasis on cloud security and compliance are the primary drivers of this market. Businesses across various industries are rapidly adopting hybrid and multi-cloud solutions, necessitating intermediary cloud service brokers to help them manage, integrate, and optimize cloud usage effectively.
The expansion of digital transformation initiatives and the rise of cloud-native technologies have fueled the demand for cloud brokerage platforms that facilitate seamless integration between public, private, and hybrid cloud infrastructures. As companies continue to transition from on-premises to cloud-based infrastructures, the need for cloud cost management, automation, governance, and orchestration tools has surged. Enterprises are increasingly relying on CSB providers to maximize cloud investments, improve IT agility, and streamline operations across diverse cloud service providers (CSPs).
Furthermore, security and compliance concerns have propelled the demand for specialized cloud security services. With data breaches and regulatory requirements intensifying, organizations seek secure cloud service brokerage solutions to ensure robust governance, access control, and compliance management. The rising adoption of AI and automation-driven cloud platforms is further accelerating market expansion by enabling real-time workload optimization, cost forecasting, and risk mitigation strategies.
Regionally, North America dominates the market due to the early adoption of cloud computing, strong IT infrastructure, and the presence of leading CSB providers. However, Asia-Pacific (APAC) is expected to register the fastest growth rate, driven by rapid cloud adoption, increasing digitalization, and government-led cloud initiatives in countries such as India, China, and Japan.