The global cloud services brokerage market should grow from $12.6 billion in 2019 to $30.1 billion by 2024 with a compound annual growth rate (CAGR) of 19.1% for the period of 2019-2024.
A cloud service is a bundle of services made available to the user, on-demand, over the internet, from a cloud computing provider’s server. Cloud services brokerage is a business model, in which, a third-party entity adds value to one or more cloud services (on behalf of one or more customers of that service). This is done through aggregation, integration and arbitrage services. Cloud services brokers act as intermediaries between cloud services companies and end users needing such services at lower cost. This system allows end users to manage multiple platforms from a single place with more flexibility.
As cloud computing evolves, integration of cloud services becomes too complex for cloud consumers to handle. A cloud customer requires local assistance rather than international assistance. Because of this, cloud brokers became an alternative and better option than cloud companies. A cloud broker is an entity that manages performance, usability and delivery of cloud services and establishes a seamless relationship between the cloud provider and cloud consumer.
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As mentioned above, cloud services brokers manage cloud services in three modes –
– Service intermediation: Firms directly dealing with established cloud service dealers, face service issues in remote area setups or between manual faults. In this situation entities contact cloud services brokers for internal maintenance. Cloud services brokers manage identity, access to cloud services, performance reporting and enhanced security on behalf of direct dealers.
– Service aggregation: In the present business scenario, cloud services companies merge or acquire local cloud services providers or brokers. This helps established companies to provide services through local platforms and gain trust in local markets.
– Service arbitrage: A brokerage company provides different options to the client pertaining to servers and features.
At the end of 2020, global spending on cloud computing and related IT services is expected to reach approximately $REDACTED billion. Organizations across geographies are shifting towards newer technologyplatforms and migrating old, physical IT frameworks to cloud servers. However, some enterprises still have concern about the security of cloud software packages. The use of cloud services is transform ing business.
The cloud services brokerage market is segmented into the following categories –
– By service type: cost and assets management, managed infrastructure services, software and mobile applications management, workload planning, supply chain management, security and surveillance management and others.
– By deployment type: public cloud, private cloud and hybrid cloud.
– By platform: internal brokerage enablement and external brokerage enablement.
– By organization size: small-sized enterprises, medium-sized enterprises and large enterprises.
– By vertical: telecommunications and IT, BFSI, government and public sector, healthcare and life sciences, manufacturing and others.
– By region: North America (segmented into the U.S., Canada and Mexico), Europe (segmented into the UK, Germany and the Rest of Europe) Asia-Pacific (APAC) (segmented into China, India and the Rest of Asia-Pacific), Rest of the World (RoW) (segmented into Latin America, Middle East and Other RoW).
In addition to industry and competitive analysis of the cloud services brokerage market, this report also offers patent analysis and a listing of company profiles for key players that are active in the global market.
– 104 data tables
– An in-depth analysis of the cloud services brokerage market
– Analyses of the global market trends with data from 2018, 2019, and projections of compound annual growth rates (CAGRs) through 2024
– Identification of key trends related to technology, industry, and regional factors that shape and influence the overall cloud services brokerage market
– Quantitative and qualitative analysis of cloud services brokerage market by service type, deployment type, brokerage platform, organization structure and application industry
– A detailed patent review and examination of new developments in the industry
– Company profiles of market leading players within the cloud computing industry, including
AMAZON WEB SERVICES
ARROW ELECTRONICS INC.
CLOUDFX PTE LTD.
COGNIZANT TECHNOLOGY SOLUTIONS CORP.
Dell Technologies Inc.
FLEXERA SOFTWARE INC.
HEWLETT PACKARD ENTERPRISE CO.
INTERNATIONAL BUSINESS MACHINES CORP. (IBM)
NTT DATA CORP.
TECH MAHINDRA LTD.
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