The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Cloud Services Brokerage Market. The growth sectors of the Cloud Services Brokerage Market are identified with precision for a better growth perspective.
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.
The cloud services brokerage market has been segmented on the basis of service, platform, organization size, deployment model, and vertical.
Based on the service, the global cloud service brokerage market has been segmented into security and compliance, support and maintenance, reporting and analytics, training and consulting, workload management, operations management, and catalog management. Cloud service brokers help in resolving problems associated with the migration of workloads in an organization by offering workload management services. The workload management segment is expected to register a healthy CAGR as it is observed to gain popularity across different organizations.
Based on the platform, the global cloud service brokerage market has been segmented into external brokerage enablement and internal brokerage enablement. External brokerage enablement acts as a management platform for multi-tenant cloud delivery. Hence, the external brokerage enablement segment is anticipated to grow at a rapid pace over the evaluation period.
Based on the organization size, the global cloud service brokerage market has been segmented into small- and medium-sized enterprise (SME) and large enterprise. The large enterprise segment is likely to garner a higher share of the market over the SMEs segment 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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