The growing number of IT companies that are adopting for cloud services brokerage is expected to cast a positive impact on the global cloud services brokerage (CSB) market, reveals Market Reseach Future (MRFR). MRFR states that the global cloud services brokerage market is likely to expand with a CAGR of 16.4% over the assessment period (2019 to 2024) and touch a substantial valuation of USD 14.83 billion by 2024.
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The high rate of adoption of cloud services brokerage across large enterprises and SMEs is expected to surge the market. The increasing number of organizations opting for CSB is likely to promote the market growth. CSB adds value to an enterprise by streamlining the process of aggregation, integration, and customization included in cloud services. The growing need for multi-cloud management is prompting the need for hybrid IT, hence, the adoption of CSB is surging across multiple business verticals. This is anticipated to spur the growth of the global cloud services brokerage market. However, restraints like issues related to regulatory compliance and lack of awareness about CSB can hinder the cloud services brokerage market expansion.
By service, the global cloud service brokerage market has been divided into security and compliance, training and consulting, support and maintenance, workload management, operations management, reporting and analytics, and catalog management. The workload management segment is expected to grow at the highest CAGR during the forecast period. This is because migration of workloads is a challenging task for the organizations, and the cloud service brokers help in addressing this challenge by offering workload management services.
By platform, the global cloud service brokerage market has been divided into internal brokerage enablement and external brokerage enablement. The external brokerage enablement segment is expected to register the higher CAGR as it offers multi-tenant cloud delivery and management platform.
Based on organization size, the market has been segmented into large enterprise and small- and medium-sized enterprise (SME). The large enterprise segment is expected to have a greater market size during the review period. SMEs are expected to register the higher CAGR.
By deployment model, the global cloud service brokerage market has been divided into public cloud, private cloud and hybrid cloud. The hybrid cloud segment is expected to exhibit the higher CAGR during the forecast period.
On the basis of vertical, the global cloud service brokerage market has been divided into IT and telecommunication, banking, financial services, and insurance (BFSI), healthcare and life sciences, government and public sector, retail and consumer goods, energy and utilities, manufacturing, media and entertainment and others. The IT and telecom vertical is expected to be the largest segment and is expected to register the highest CAGR during the forecast period.
Cloud Services Brokerage Market is likely to register a CAGR of 16.4% during the forecast period,…
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