Cloud Service Brokerage Market Emerging Trends And Strong Application Scope

The global cloud service brokerage market is currently witnessing a high degree of competition on account of the presence of a large number of market players. According to a new study by Transparency Market Research (TMR), Accenture Plc, Cognizant Technology, and Capgemini S.A. held the leading share in the global market. By the end of 2017, these companies were slated to collectively account for nearly 58.2% of the global market. Some of the leading companies in the market offer wide range of cloud services. Besides this, they are focusing on strategic alliances and collaborations to expand their market share. For instance, recently Google has initiated a partnership with Accenture to build cloud solutions as per the need of specific industries.

According to TMR, the global cloud service brokerage market is projected to reach a valuation of US$ 22.4 bn by the end of 2024. The market is expected to progress at 23.6% of CAGR during the forecast period between 2016 and 2024.

On the basis of end users, telecom and IT sector is forecast to lead the market by accounting for a share of 26.5% in the market by the end of 2024. Increasing demand for smart gadgets will in turn create growth opportunities for the market in IT and telecom sector. Regionally, North America and Europe are leading the global cloud services brokerage market. Between the two regions, North America is expected to reach a valuation of US$ 9.8 bn by the end of 2024