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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Cloud Services Brokerage Market Outlook
The global cloud services brokerage market attained a value of about USD 9.82 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 17.2% to reach nearly USD 40.94 billion by 2032.
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The Asia Pacific to Significantly Contribute to the Growth of the Cloud Services Brokerage Industry
Due to the widespread adoption of cloud services brokerage in China, India, Singapore, Australia, and New Zealand, the Asia Pacific market is expected to grow at the highest rate in the next few years. Factors such as the rising urbanisation, technical advances, and government backing for the digital economy are all boosting the regional growth. Several businesses in the region have adopted cloud-based methods as a result of rapid developments in telecommunications, cloud computing, and IoT. The region is also home to the world's fastest-growing data centre market. As a result, this region is anticipated to expand rapidly throughout the forecast period. Thereby significantly contributing to the growth of the global market.
Rising Demand for the Public Cloud to Augment the Global Market for Cloud Services Brokerage
The public cloud is expected to share a significant market percentage as it is easily available to anyone who wants to purchase or use them over the public internet. The market is expected to further grow over the forecast period since companies require it to meet their scaling requirements while also providing a pay-per-use pricing approach and ease of setup. The public cloud is expected to assist in data loss prevention and easy and quick disaster recovery, resulting in the market growth of cloud services brokerage.
Cloud Services Brokerage Industry: Definition and Segmentation
Cloud service brokerage is a business concept that works as a middleman between cloud providers and cloud users, assisting businesses in selecting the services and solutions that best meet their needs. A client may handle numerous cloud service provider bills for different platforms such as infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), and software-as-a-service (SaaS) by utilising an effective CSB technology (SaaS).
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By platform, the industry is segmented into:
- Internal Brokerage Enablement
- External Brokerage Enablement
By deployment model, the industry is divided into:
- Public
- Private
- Hybrid
On the basis of organisation size, the industry is segmented into:
- Large Enterprises
- Small and Medium Sized Enterprises
By vertical, the industry is categorised into:
- Banking, Financial Services, and Insurance
- IT and Telecom
- Government and Public Sector
- Retail and Consumer Goods
- Manufacturing
- Healthcare and Life Sciences
- Energy and Utilities
- Others
The EMR report looks into the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Fear of Vendor Lock-In to Bolster the Growth of the Cloud Services Brokerage Industry
The market for cloud service brokerage is being driven by the negative perception of cloud service, since the fear of vendor lock-in is quite prevalent globally. The introduction of cloud service brokerage has alleviated such perception of cloud services, thereby simultaneously boosting the demand for cloud services and cloud services brokerage. Furthermore, the market is expected to expand over the forecast period as more cloud services, such as hybrid IT and multi-cloud management, are being used to improve data accessibility from anywhere in the world.
The expansion of the cloud service brokerage industry is also fueled by the rising usage of Platform-as-a-Service (PaaS) across various organisations to create and test applications. Furthermore, increased expenditures for the improvement and deployment of sophisticated telecom network infrastructure, as well as global internet penetration, are expected to create significant growth possibilities for the market. In addition, the market is expected to thrive over the forecast period due to the rising usage of cloud services brokerage in small scale companies.
Key Industry Players in the Global Cloud Services Brokerage Market
The report presents a detailed analysis of the following key players in the global cloud services brokerage market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- IBM Corporation
- Oracle
- Microsoft Corporation
- Accenture PLC
- VMware
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Platform |
|
| Breakup by Deployment Model |
|
| Breakup by Organisation Size |
|
| Breakup by Vertical |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Cloud Services Brokerage Market Report Snapshots
Cloud Services Brokerage Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global cloud services brokerage market attained a value of nearly USD 9.82 billion.
The market is projected to grow at a CAGR of 17.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 40.94 billion by 2032.
The major drivers of the market include the increasing adoption of cloud, growing need to avoid vendor lock-in to drive adoption of cloud service brokerage, surging usage of cloud services brokerage in small scale companies, and efforts of various governments towards a digital economy.
The key market trends include rising urbanisation, technical advances, increasing expenditures for the improvement of sophisticated telecom network infrastructure, rising usage of Platform-as-a-Service (PaaS) across various organisations, and the global internet penetration.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant platforms include internal brokerage enablement and external brokerage enablement.
The leading deployment models of cloud services brokerage in the market are public, private, and hybrid.
The organisation sizes in the market are large enterprises and small and medium sized enterprises.
The significant verticals are banking, financial services, and insurance, IT and telecom, government and public sector, retail and consumer goods, manufacturing, healthcare and life sciences, energy and utilities, among others.
The key players in the global cloud services brokerage market are IBM Corporation, Oracle, Microsoft Corporation, Accenture PLC, and VMware, among others.
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