Cloud Service Brokerage Market Is Expected To Reach US$ 19.44 Bn by 2027 | Credence Research

Cloud Service Brokerage Market Is Expected To Reach US$ 19.44 Bn by 2027 | Credence Research

The latest market report published by Credence Research, Inc. “Cloud Service Brokerage Market – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027”, the global cloud service brokerage market was valued at US$ 5.03 billion in 2018 and is expected to reach US$ 19.44 billion by 2027 for a CAGR of 16.4% over the forecast period from 2019 to 2027.

Market Insights

Evolving need to manage hybrid IT and reduce security risk will spur revenue growth during the forecast period

Technology disruption, coupled with businesses expecting higher returns on investment, has generated demand for cloud infrastructure. Increasing adoption of hybrid IT comes with many challenges, and cloud service brokers have a vital role to play in addressing these challenges. The combination of the benefits offered by cloud broking, including enabling self-service IT across the environment and deployment, integrating, managing and tracking cloud services, and reducing cloud infrastructure costs, among others, is driving the growth of the cloud services brokerage market. In addition, cloud service brokers help companies find the right balance between service-by-service security, enforcement, efficiency and price across multi-cloud services.

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By 2020, 90% of the organizations will adopt hybrid IT infrastructure management capabilities. The cloud brokerage service comprises of varied set of capabilities including multi-tenancy, access management, service management and optimization, integrated chargeback and financial management, policy-driven governance, and compliance. In particular, the lack of standards for managing IaaS, SaaS and PaaS services through a single recording system is fueling governance concerns. All this makes it possible for unified consoles not only to integrate and customize cloud services in a self-service environment but also to keep up with rapidly evolving cloud service broker services. Thus bolstering the growth of cloud service brokerage market.

Industrial Developments

  • In September 2016, Jamcracker and VADS entered into a partnership agreement to deliver Malaysia’s first cloud exchange and marketplace via cloud service brokerage solutions.
    • In October 2015, Accenture announced the acquisition of Cloud Sherpas, a cloud and technology service providers. This acquisition further strengthens Accenture’s position in the market and enhances its product portfolio.

Key Market Movements

  • Globally, the cloud service brokerage market is growing at a CAGR of 16.4% for the period from 2019 to 2027.
    • Large enterprises segment expected to dominate the cloud service brokerage market with a revenue share of more than 65%. This can be associated with the high demand from large enterprises in order to increase productivity and reduce complexity.
    • In addition, SME segment expected to display remarkable growth throughout the forecast period. Owing to, the evolving need to optimally manage and utilize resources as SMEs have limited human resources in contrast to large enterprises.
    • North America dominates the cloud service brokerage market in terms of revenue with more than 35% of market share. North America will continue to dominate the global cloud service brokerage market throughout the forecast period. Owing to the rapid adoption of cloud technology and the presence of several vendors among others in the region.
    • Asia Pacific region projected to grow at the highest CAGR during the forecast period. Owing to the increasing awareness about cloud-based solutions and its adoption in the region.

List of Companies Covered:

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

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[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Report Scope by Segments

By Platform Segment

  • Internal Brokerage Enablement
  • External Brokerage Enablement

By Deployment Mode Segment

  • Private Cloud
  • Public Cloud
  • Hybrid Cloud

By Organization Size Segment

  • Small & Medium Enterprises
  • Large Enterprises

By End-user Segment

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

By Geography Segment

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

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