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||Product code||264583|
|Published||Content info||143 Pages
Delivery time: 1-2 business days
|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: May 10, 2018||Content info: 143 Pages||
"Growing adoption of multi-cloud management and hybrid IT is expected to fuel the demand for cloud services brokerage across the globe"
The global Cloud Services Brokerage (CSB) 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. An increasing adoption of multi-cloud approaches that involve dynamic management of a variety of cloud providers and services is one of the major drivers for the CSB market. However, stringent regulations and difficulty in application portability are expected to limit the growth of these solutions.
Brokers help reduce the complexities of an organization by managing the services deployed on the hybrid cloud as well as look after its integration with the applications and systems on-premises. It also looks after the metering, billing, and other settlements with the third-party cloud provider on behalf of the cloud customer. Moreover, brokers help organizations in looking after the process from order till the settlement of services is done. Hence, the demand for these services is expected to increase across verticals.
The CSB market has been segmented by platform into internal brokerage enablement and external brokerage enablement. These internal enablement platforms empower enterprises to provide a unified multi-cloud governance and management experience to their employees. Enterprises utilize internal brokerage enablement platforms for unifying security, policy enforcement, license management, and employee usage monitoring across cloud services. Hence, the CSB market for internal brokerage enablement is expected to hold a larger market size during the forecast period.
North America is estimated to hold the largest market size in the global CSB market in 2018, and the trend is expected to continue during the forecast period. Growth in the adoption of cloud-based services among SMEs and large enterprises is expected to drive the CSB market in this region. On the other hand, the CSB market in Asia Pacific (APAC) is expected to witness an exponential growth and is projected to be one of the fastest-growing regions in the global CSB market. This is attributed to the large-scale adoption of reliable and cost-effective CSB services in these regions.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people.
The break-up of the profiles of the primary participants is given below:
The key vendors profiled in the report are as follows:
The market is segmented on the basis of service type that includes operations management; catalog management; workload management; integration, reporting, and analytics; security and compliance; training and consulting; and support and maintenance. The platform segment includes internal brokerage enablement and external brokerage enablement. The deployment model segment includes public cloud, private cloud, and hybrid cloud. The organization size consists of SMEs and large enterprises. The market by vertical covers BFSI, Healthcare and Life Sciences, IT and Telecommunications, Retail and Consumer Goods, Manufacturing, Government and Public Sector, Media and Entertainment, Energy and Utilities, and others (Education and Transportation & Logistics). The market has also been segmented on the basis of major regions into North America, Europe, APAC, Middle East and Africa (MEA), and Latin America.
The report is expected to help the market leaders/new entrants in the following ways:
*Details on Business Overview, Products offered & Services strategies, Key Insights, Recent Developments, MnM View might not be captured in case of unlisted companies.