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Cloud Service Brokerage Market By Platform (Internal Brokerage Enablement, External Brokerage Enablement) By Deployment Mode (Private Cloud, Public Cloud, Hybrid Cloud), By Organization Size (SMEs, Large Enterprises), By End-user (IT & Telecom, Healthcare, Government, Manufacturing, Others) - Growth, Future Prospects, And Competitive Analysis, 2019 - 2027

"Rapid adoption of cloud technology will spur the market revenue growth."

The global cloud service brokerage market was valued at US$ 5.03 Bn in 2018 and is anticipated to grow to US$ 19.44 Bn, growing at a CAGR of 16.4% throughout the forecast period from 2019 to 2027.

The proliferation in demand for the cloud has bolstered the number of cloud providers and has opened a space for cloud brokerage services. Cloud brokers act as an intermediary amid cloud customers and service providers to support customers in choosing the most appropriate cloud service, helping in the management of the risk accompanying cloud services. In addition, many organizations are adopting hybrid cloud in order to accelerate innovation and create new business models and revenue streams.

Cloud service brokerage assists in solving the issues hybrid cloud has introduced, including lack of visibility and control, security risks, and a non-compliant IT environment. In addition, cloud service brokerage provides many services, including application assessment, cloud comparison, estimate billing, cost management, and financial reporting. Thus proliferating the demand for the cloud service brokerage market.

Market Synopsis

Platform Analysis

"External brokerage segment to register maximum growth throughout the forecast period."

Based on the platform, the internal brokerage enablement segment accounted for approximately 50% of the revenue share of the total market revenue generated worldwide. This is due to the benefits offered by internal cloud brokerages such as spend management, compliance, license management & support, and reduced costs, among others. However, organizations developing in-house cloud broking software remain an exception to date. In addition, IT departments can make better decisions to support multi-cloud strategy actively and position themselves as true partners that enable business and fortify their impact on in-house IT.

In contrast, the external brokerage enablement segment is estimated to register maximum growth during the forecast period. Owing to the product offerings by many third-party service providers who are delivering fast-track solutions to pressing challenges. In addition, external cloud brokerage provides varied benefits, including enablement of channels, management of administrative activities, and multi-tenancy cloud delivery system, among others.

End-user Analysis

"IT & Telecom segment is expected to be dominant during the forecast period."

Based on end-use, the global cloud service brokerage market is segmented into BFSI, IT & Telecom, Healthcare, Government, Manufacturing, and Others (Education, Logistics, & Retail, etc.). IT & Telecom segment leads the market with more than 20% of the market share in revenue. This can be attributed to the growing inclination toward hybrid IT and the high demand to manage and integrate IaaS, SaaS, and PaaS platforms across organizations. As a result, large enterprises are rapidly adopting cloud service brokers due to their benefits and gaining a competitive edge in the market.

The BFSI segment is estimated to register the highest growth during the forecast period. This can be attributed to the rapid adoption of cloud technology in the banking sector. According to a report by PwC, the Public cloud will become the dominant infrastructure model by 2020 for FinTech and will thus boost the market demand for the cloud service brokerage market.

Regional Analysis

"Increasing number of startups to bolster the growth in the Asia Pacific region."

In 2018, North America was the leading revenue contributor to the global cloud service brokerage market, with a market share of more than 35%. Furthermore, North America is anticipated to remain dominant throughout the forecast period, trailed by the Asia Pacific. This is due to North America being the early adopter of technology, the availability of state-of-the-art infrastructure, and the presence of major IT & Telecom service providers in the region with significant cloud adoption will bolster the cloud service brokerage market growth in this region.

On the contrary, the Asia Pacific region is projected to record significant growth during the forecast period. This growth can be associated with the exponential growth of cloud services adoption among businesses, high investment in research and development, and support by the government for cloud integration are proliferating the growth in this segment. In addition, an increasing number of IT startups in developing economies such as China and India, along with growing demand for cloud-based solutions, is further fuelling the market growth.

List of Companies Covered:

  • Capegemini SE
  • Accenture Plc
  • IBM Corporation
  • Cognizant Technology Solutions Corporation
  • Atos SE
  • Jamcracker, Inc.
  • Wipro Ltd.
  • Tech Mahindra Ltd.
  • Fujitsu Ltd.
  • OpenText Corporation
  • Oracle Corporation

Key Industry Development:

  • In June 2018, Atos SE introduced a new cloud access security broker service using McAfee Skyhigh Security Cloud to mitigate risks related to security policy across hybrid IT environments.

Historical & Forecast Period

This study report represents analysis for each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.

Segmentation Platform Segment (2017–2027; US$ Bn)

  • Internal Brokerage Enablement
  • External Brokerage Enablement

 Deployment Mode Segment (2017–2027; US$ Bn)

  • Private Cloud
  • Public Cloud
  • Hybrid Cloud

 Organization Size Segment (2017–2027; US$ Bn)

  • Small & Medium Enterprises
  • Large Enterprises

 End-user Segment (2017–2027; US$ Bn)

  • BFSI
  • IT & Telecom
  • Healthcare
  • Government
  • Manufacturing
  • Others (Education, Logistics, & Retail, etc.)

 Geography Segment (2017–2027; US$ Bn)

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, Russia, Rest of Europe)
  • Asia Pacific (Japan, China, India, Rest of Asia Pacific)
  • Rest of the World (the Middle East & Africa, Latin America)

The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to understand the overall cloud service brokerage market better. The global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.

Frequently Asked Questions

The market for Cloud Service Brokerage is expected to reach US$ 5.03 Bn in 2028.

The Cloud Service Brokerage market is expected to see significant CAGR growth over the coming years, at 16.4%.

The report is forcasted from 2015-2022.

The base year of this report is 2021.

Capegemini SE, Accenture Plc, IBM Corporation, Cognizant Technology Solutions Corporation, Atos SE, Jamcracker, Inc., Wipro Ltd., Tech Mahindra Ltd., Fujitsu Ltd. are some of the major players in the global market.

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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Jan 2020
Category:  Technology & Media
Report ID:   60144
Report Format:   PDF
Pages:   120
Rating:    4.4 (58)
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