Market Overview:

The Global Cloud Services Brokerage Market size was valued at USD 10.59 Billion in 2022 and is projected to reach USD 36.13 Billion by 2030, growing at a CAGR of 16.58% from 2022 to 2030.

Cloud service brokerage is a business model that helps enterprises choose the services and products that will best meet their customers' needs. It acts as a middleman between cloud providers and cloud users. We also give customers choices and possible cost savings to help them deploy and connect their apps across multiple clouds or add services from different companies to our catalog. It saves customers time by telling them how business owners and customers can find services from different vendors and use cloud computing to help their business reach its goals. We've made a new, more flexible way to buy IT by offering on-demand services that are naturally scalable. It includes value-added services like migration, VM portability, API management, and standardization of cloud intermediary platforms. This lets end users move freely between platforms and keep options from different cloud providers. These things are likely to make the market for cloud services brokerages bigger.

Over the next few years, the market is expected to grow at a very fast rate. This is due to the high demand for hybrid IT solutions among large businesses and the growing need to store and manage large amounts of business data. Also, businesses can give their partners and customers access to several cloud-based services, such as administration, billing, and support, from a single point of access. Because more and more people are using multi-cloud platforms to meet the needs of different clients.

COVID-19 Impact:

Many businesses have moved to a work-from-home model to protect employee health and keep operations running smoothly. This has increased the demand for cloud-based solutions. As more businesses use cloud-based solutions to improve their IT infrastructure, the demand for CSB solutions will continue to rise.

Market Dynamics:

Market Trends:

Cloud The cloud service brokerage market is growing in popularity thanks in large part to new technologies. Most of the big companies in the cloud services brokerage market are focusing on offering solutions that are on the cutting edge of technology to strengthen their market position. These companies are putting next-generation cloud services brokerage technologies like the internet of things (IoT), artificial intelligence (AI), microservices architecture, blockchain, virtualization, service-oriented architecture, multi-cloud, and others into their services to improve them by focusing on a specific area of expertise and offering value-added services. For example, in December 2021, BeyondTrust, a US-based privileged access management company, released a cloud privilege broker to help their customers regain control of important cloud infrastructure, improve communication, and reduce the risks that come with having entitlements in multiple clouds.

Driving Factors:

• Increased Need to Avoid Vendor Lock-in

When server infrastructure is put on the cloud, there is a chance that a customer will be stuck with one service provider. People often say that a big reason why they don't use cloud services is that they don't want to be stuck with one vendor. A cloud service migration is also hard to do, so some customers stay with their current provider to avoid the trouble. With the rise of multi-cloud system management, vendors can avoid being locked into one cloud provider by using a cloud environment with a lot of standardization. To avoid being locked into a single vendor, end users must make sure that the architecture they choose can run on different kinds of clouds. The cloud also makes it easy to move data from one cloud to another. Since there are now a lot of cloud service providers, the market has become very competitive, giving customers a lot of options. Enterprises need to make sure that they have the freedom to move applications from one provider to another. End users are choosing cloud services from different providers so they don't have to stick with one. For example, businesses use public cloud services from Amazon, Microsoft, and Google to store data that isn't important, while they use private cloud or on-premises systems to store data that is important. So, CSB makes it easier to manage a multi-cloud environment and a hybrid environment without giving up control over important resources. It also helps prevent being locked into one vendor.

• Growing Need for Storage and Effective Management of Large Volumes of Enterprise Data 

Over the next few years, the market is expected to grow at a very fast rate. This is due to the high demand for hybrid IT solutions among large businesses and the growing need to store and manage large amounts of business data. Also, businesses can give their partners and customers access to several cloud-based services, such as administration, billing, and support, from a single point of access. Over the next few years, the growth of the global cloud services brokerage market is likely to be driven by the increasing use of multi-cloud platforms to meet the needs of different clients, vendors, and technology partners.

Restraining Factors:

• Regulatory Compliance Issues

Companies that offer services on the cloud platform do business with a wide range of industries, such as financial services, the public sector, healthcare, and telecommunications. Regulations and other requirements and standards that are specific to an industry are changing. But new laws, rules, interpretations, or standards that aren't good for a certain industry could hurt businesses. Customers may be less likely to use and adopt solutions and services if they have to pay more to comply with laws, regulations, and interpretations that are specific to their industry. This could lower demand for solutions and services overall. In order to follow these rules, service providers may also have to give certain customers a lot of help, which could increase costs and lengthen sales cycles. For example, regulators in the financial services industry have set rules about how to use cloud computing services. These rules require specific rules to be followed or require financial service companies to get regulatory approval before outsourcing certain functions. But if organizations can't follow rules or regulations or if end users can't get permission from regulators to use services, the business as a whole could be hurt.

Opportunities:

• Growing Demand among SMEs

Small and medium-sized businesses (SMEs) are using the cloud more and more every day because it helps them. Cloud-based solutions help small and medium-sized businesses solve a number of problems, such as improving IT operations and lowering IT costs. In the past few years, SMEs have become more interested in public cloud. The State of the Cloud Report 2020 from Flexera shows that small and medium-sized businesses (SMEs) are adopting public cloud faster than large businesses. Through the internal enablement model, the SMEs market is becoming more interesting for cloud providers, and it's also a good market for external cloud brokers like telecom providers and SIs. With multi-source cloud services, SMEs would be more likely to use the cloud, which would be good for the market in the long run.

Challenges:

• Lack Of Awareness and Security Concerns

Some people don't know what cloud computing and storage services and solutions can do for them. Because people aren't aware, there is a big gap between buyers and sellers. Over time, cloud infrastructure services have grown, but security, scalability, and compatibility have always been big problems. Professionals are also worried that a merged cloud ecosystem will lead to data loss. Because of this, many small businesses don't want to move their data from their own servers to the cloud. So, cloud processes need to be checked on all the time to reduce risks and improve security.

Strategic Development:

• In May 2020 - Microsoft will start selling Back2Business Solution Boxes for SMBs in India. The new solution is meant to help Indian small and medium-sized businesses (SMBs) keep their businesses running and keep using the cloud during COVID-19. It also wants to help SMBs deal with the problems they face when they work from home.
• In June 2018 - Atos SE announced a new set of cloud security brokerage solutions to make hybrid cloud environments safer for data.
• In March 2022 - Persistent Systems, a middle-tier software services provider, has bought its fourth company in the last seven months. This is in line with the company's plan to focus on high-growth markets and expand its services. Its most recent purchase, MediaAgility, a Google Cloud premium partner, cost $71.7 million. Using financial information from CY2021, the transaction is worth 2.8 times the enterprise value to revenue ratio.
• In March 2021 - BoomTown, a US-based company that builds real estate platforms, bought Brokermint for an amount that was not made public. BoomTown is now one of the companies that offer fully integrated, end-to-end solutions for the real estate transaction lifecycle. This is because it bought Brokermint. Brokermint is a company in the US that makes cloud-based software for managing brokerages.

Key Vendors:

Top market players are

• Accenture Plc

Accenture Plc (Accenture) offers a wide range of strategy, consulting, digital, technology, and operations services and solutions. The company works with many different types of businesses, such as those in agribusiness, automotive, banking, capital markets, chemicals, media and technology, communications, and capital markets. Accenture runs business processes for enterprise functions like sourcing and procurement, finance and accounting, supply chain, marketing and sales.

• Arrow Electronics Inc.

Arrow Electronics, Inc. sells computer parts and electronic parts to industrial and business customers. The company sells a wide range of products, such as computer systems, peripherals, software, and mass storage products, to original equipment manufacturers and business customers all over the world.

• Capgemini Services SAS

Capgemini Service provides commercial services. Consulting, digital transformation, technology, and engineering services are what the company does best. Capgemini Service works with companies all over the world in the automotive, insurance, electronics, telecommunications, banking, and energy sectors.

• Cognizant Technology Solutions Corp.

Cognizant Technology Solutions Corp (CTS) offers services in information technology (IT), consulting, and business process outsourcing (BPO). The company offers artificial intelligence, digital engineering, digital experience, digital strategy, the Internet of Things, enterprise services, industry and platform solutions, intelligent process automation, application services, cloud enablement, infrastructure services, security services, core modernization, enterprise application services, and quality engineering and assurance.

• Dell Technologies Inc.

Dell Technologies Inc. (Dell) is a company that sells desktop PCs, software, and other hardware. The company designs, develops, makes, markets, sells, and supports IT infrastructure like laptops, desktops, mobiles, workstations, storage devices, software, cloud solutions, and notebooks.

• DXC Technology Co.

DXC Technology helps global companies run their mission-critical systems and operations while modernizing IT, optimizing data architectures, and making sure security and scalability across public, private, and hybrid clouds. The largest companies and government agencies in the world trust DXC to set up services that will improve their IT performance, competitiveness, and customer experience.

• Fujitsu Ltd.

Fujitsu is the biggest Japanese company in the world when it comes to information and communication technology. It has a wide range of technology products, services, and solutions. Fujitsu Ltd. (also called "Fujitsu") makes solutions for information and communication technology (ICT). It sells a variety of computers, storage devices, servers, networking systems, electronic devices, and products that are similar to these.

• Hewlett Packard Enterprise Co.

Hewlett Packard Enterprise is an IT company that sells hardware and software to large businesses. Its main product lines are compute servers, storage arrays, and networking equipment. It also has a business for high-performance computing. HPE wants to be a company that does everything from the edge to the cloud.

• International Business Machines Corp.

IBM, which stands for International Business Machines Corporation, makes computer solutions. The company offers business resiliency, strategy, and design solutions, as well as application, technology consulting and support, process design and operations, cloud, digital workplace, and network services. IBM has clients all over the world.

• Wipro Ltd.

Wipro Limited is a leading technology services and consulting company that focuses on building innovative solutions to meet clients' most complex digital transformation needs.

Segmentation Analysis:

The market segmented on the basis of service type, deployment, platform, organization size, end-user and regions.

By Service Type:

Cloud brokers help companies connect their on-premises systems to cloud services from other companies. So, cloud brokers help organizations manage the life cycle of their services and the changes that come with them. They also handle the integration of services from different CSPs, making a package of cloud services for the customer. The broker creates a single connection between the organization and the different CSPs by giving the organization a single pane of glass platform that protects it from the technical complexity of working with multiple CSPs. By integrating the different business processes of the organization, the broker makes it easy for its customers to move to the cloud.

• Integration And Support
• Automation And Orchestration
• Billing And Provisioning
• Migration And Customization
• Security And Compliance
• Other Services

By Deployment:

The public cloud is made up of computing services that are offered by third-party companies over the public internet. Anyone can use or buy these services. The public cloud is a type of computing that shares resources, like storage, processing, and networking, with outside entities based on their needs. In the public deployment model, client enterprises can access resources like applications, storage, virtual servers, and hardware over the internet. The services that are available through the public deployment model are either free or cost money. It helps organizations meet their needs for scalability, offers a pay-per-use pricing model, and is easy to put into place. Redundancies are usually built into the public cloud so that data doesn't get lost. Service providers may store copies of files in multiple data centers to make sure that recovering from a disaster is easy and quick. Most people think that data stored on a public cloud platform is safe from most risks. However, businesses can make their operations much more efficient by using public clouds. For example, businesses can store non-sensitive data, collaborate on documents online, and send and receive email through the public cloud. Some of the biggest providers of a public cloud are AWS, Microsoft, IBM, and Google.

• Public Cloud
• Private Cloud

By Platform:

The market is split into Internal Cloud Services Brokerage and External Cloud Services Brokerage based on the platform. The External Cloud Services Brokerage segment gives telecom service providers, distributors, Value-Added Resellers, and cloud providers a multi-tenant cloud delivery and management platform that helps them offer different services, set up channels, and take care of administrative tasks. On a common platform, the enablement platform also works with different cloud services. The External Cloud Services Brokerage segment is likely to grow because it gives technology and service providers a lot of business benefits and opportunities.

• Internal Cloud Services Brokerage
• External Cloud Services Brokerage

By Organization Outlook:

The market has been split into large enterprises and small and medium enterprises based on the size of the companies. In 2018, the large enterprises segment had more than 60.0% of the market share. This was because a lot of large businesses wanted to use multi-cloud platforms to boost productivity and simplify things.

Also, the segment of small and medium-sized enterprises (SMEs) is expected to grow a lot over the next seven years. The main reason for the growth will be the growing need for CSBs to help small and medium-sized businesses (SMEs) make the best use of their limited human resources.

• SMEs
• Large Enterprise

By End-User:

The market is divided into Government, Manufacturing, BFSI, Retail, IT and telecom, Healthcare, and Others, based on the end-use industry. IT and telecom took up about 20% of the market. This is because there is a strong demand for CSB to manage SaaS, PaaS, and IaaS platforms in many organizations, and the demand for hybrid IT services is growing quickly around the world. Also, the high demand for CSB from the IT and telecom industries to provide data harmonization and agility, rapid request-driven provisioning, and predictive analytics, as well as to lower the total cost of ownership of IT infrastructure, is expected to drive the segment over the estimated period.

• Government
• IT and telecom
• Manufacturing
• BFSI
• Retail
• Healthcare
• Others

Regional Insights:

Asia Pacific is expected to grow the fastest over the next few years because China, India, Singapore, Australia, and New Zealand use CSB on a large scale. APAC is made up of countries with a complex ecosystem of startups, government companies, small and medium-sized enterprises (SMEs), and large multinational corporations (MNCs) that use and develop a wide range of Information and Communications Technology (ICT) solutions. Rising rates of urbanization, new technologies, and government support for the digital economy are all important for technological progress in the region. Rapid changes in telecommunications, cloud computing, and the Internet of Things (IoT) have led many companies to switch to cloud-based strategies. During the forecast period, the area is expected to grow by a lot.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Scope of Report:

Conclusion:

• The report covers all aspects of the industry and has a section on key players, including market leaders, those who follow them, and newcomers to the market by region.
• The report covers all aspects of the industry and has a section on key players, including market leaders, those who follow them, and newcomers to the market by region.
• External and internal factors that are expected to have a positive or negative effect on the business have been looked at.
• The report also helps you understand the Global Cloud Services Brokerage Market's structure and dynamics by looking at the market's different segments and estimating its size.