Cloud Services Brokerage Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Cloud Services Brokerage Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The cloud services brokerage market was valued at USD 5.71 billion in 2020 and expected to reach USD 14.34 billion by 2026 and grow at a CAGR of 16.6% over the forecast period (2021 - 2026). The increasing security concerns regarding the data and the lack of awareness about the cloud brokerage services are some of the primary factors hindering the market growth.

Key Highlights

• The market studied is estimated to grow significantly over the forecast period, owing to exponentially increasing adoption of cloud service among various end-user industries, coupled with the surge in deployment of Pay-as-you-go (PAYG) cloud pricing model.
• With an increased demand for Infrastructure-as-a-Service (IaaS), Software-as-a-Service (SaaS), and Platform as a Service (PaaS), pay-as-you-go pricing model is also witnessing a surge in demand, as it is enhancing the above-mentioned platform's performance by reducing the billing complexity.
• However, the increasing security concerns regarding the data and the lack of awareness about the cloud brokerage services are some of the primary factors hindering the market growth.

Key Market TrendsInternal Cloud Services Brokerage is Expected to Hold the Major Share

• A CSB can bundle all the cloud services into a single bill, where the customers can manage cloud service provider bills for various infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), and software-as-a-service (SaaS) platforms by using CSB.
• Internal CSB provides a unified multi-cloud/SaaS governance, security, compliance, license management and support, spend management, and overall user experience to employees. It provides both centralized resources to both public and private cloud services’ users.
• For optimal result, CSB must be part of the company’s cloud equation. Otherwise, the benefits of moving services outside the organization may very well be hampered by the internal mess. It caters through the installed cloud workload, thereby across different cloud services among IaaS, PaaS, SaaS.

Asia-Pacific is Expected to Have the Fastest Growth Rate

• Asia-Pacific is the fastest growing region in the market studies, owing to the exponential growth of cloud services adoption among all forms of business.
• By implementing initiatives to build more business confidence across the cloud, local governments are playing a significant role in the development of cloud integration services market across the Asia-Pacific region. The region is also the fastest-growing area for data centers in the world, currently.

Competitive Landscape

The cloud services brokerage market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with innovation across the cloud segment, most of the companies are increasing their market presence, thereby expanding their business footprint across new markets.

• March 2018: Access to IBM Cloud services was made available via IBM Cloud Direct Link, a network service designed to enable security-rich and accelerated data transfer between private infrastructure and public cloud, which is now co-located in Interxion’s Frankfurt and Stockholm facilities.
• Jan 2018: DXC Digital Directions series, authored by the company’s global technology leaders, explores digital opportunities for enterprises to gain actionable, data-driven insights, drive better customer experiences, increase employee performance, and deliver better business outcomes.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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