According to new market research
report "Cloud Services Brokerage Market by Service Type (Integration
& Support, Migration & Customization, and Automation &
Orchestration), Platform, Deployment Model, Organization Size, Vertical, and
Region, - Global Forecast to 2025", published
by MarketsandMarkets™, the Cloud Services Brokerage Market size is expected to grow from USD 5.9 billion in 2020 to USD 12.9
billion by 2025, at a Compound Annual Growth Rate (CAGR) of 16.8% during the
forecast period. The flexibility and agility of cloud-based models would
support the IT service needs of enterprises.
The leading
CSPs/hyper scalers—Microsoft, IBM, and AWS—are expected to increase their CAPEX
primarily for data center expansion to support the increasing workload for
their internal and external stakeholders. The increasing volume of data
generation in websites and mobile apps, rising focus on delivering
customer-centric applications for driving customer satisfaction, and growing
need to control and reduce Capital Expenditure (CAPEX) and Operational
Expenditure (OPEX) are a few factors driving the growth of the emerging
technologies. The emerging technologies, such as big data, Artificial
Intelligence (AI), and Machine Learning (ML), are gaining traction, which is
ultimately leading to the growth of the Cloud Services Brokerage Market globally.
Browse and
in-depth TOC on “Cloud Services
Brokerage Market”
234 –
Tables
48
- Figures
222
- Pages
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The sudden shutdown of offices, schools, colleges, and
physical retail stores has massively disrupted operations; this has led to an
increase in the demand for digital workplace tools and services, such as Zoom,
Slack, Blackboard, Lynda, Canvas, Google Classroom, AnyMeeting, and Moodle.
AWS, Microsoft, and Google host and manage all applications in a public cloud
environment. Increased spend on cloud services by select industries due to
COVID-19. Industries such as IT and ITeS, telecom, online retail/commerce,
media, and BFSI, are expected to increase spending on cloud-based services to
sustain their business. Highly regulated and cash-rich industries, such as
BFSI, are also expected to move selective workloads to public cloud
environments.
The market is expected to
be driven by the need of cloud migration and customization
Cloud migration services
have gained popularity as enterprises across the globe continue to migrate
workloads from on-premises infrastructure to cloud environments for better
operational efficiency and cost savings. The demand for cloud services has
surged in recent times due to COVID-19, and many enterprises across the regions
have shifted enterprise workloads on cloud environment. Therefore, CSB vendors
specializing in migration and customization services are in high demand. Cloud
brokers offer customization services to the customers as per business needs,
which provides better-bundled offerings facilitating higher returns on cloud
investments.
Increased security
capabilities and customized costing in private cloud-based services is driving
the adoption of private cloud-based deployment
A private cloud is a
computing model that offers a proprietary environment dedicated to a single
business entity. A private cloud provides extended and virtualized computing
resources. This deployment model enables a company to have better control over
its data and reduce risks, such as data loss and issues related to regulatory
compliance. The private cloud is used in banking and financial institutions, large
enterprises, and government organizations, where only authorized users can
access the system. The acceptance of private cloud deployments for enterprises
with compliance concerns is due to its security and control benefits. Service
providers offering hosted private cloud address significant essentials of
compliance with regulations, such as HIPAA and PCI. Some of the popular private
cloud providers are VMware, DXC, Dell EMC, Oracle, IBM, and Microsoft.
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North America to dominate the global Cloud Services Brokerage Market in 2020
North America has been
continued to dominate the CSB market in terms of revenue and is expected to
have the largest market size among regions in the CSB market as the
organizations are shifting toward cloud-based solutions and services with the
increasing adoption of digital business strategies. This trend is expected to
continue during the forecast period. North America is a mature market due to
the presence of various players offering CSB. Enterprises are increasing their
budgets to accommodate CSB, which is favoring the growth of the Cloud
Services Brokerage Market in North America. The US and Canada are the top countries
in North America, which contribute to the CSB market. The US, being a major
economy, holds a significant market share due to the country’s technological
advancements and the inclination toward innovation and the adoption of new
technologies. Organizations have invested substantially in advanced
technologies to gain a competitive advantage and increase business
productivity. The Cloud Services Brokerage Market is expected to grow
steadily as enterprises are adopting cloud-based solutions and services at
various levels as a part of their strategy to sustain themselves in the market
and achieve improved business functioning.
The Cloud Services Brokerage Market includes major vendors, such as Accenture (Ireland), IBM (US),
VMware (US), Jamcracker (US), ActivePlatform (Belarus), Arrow Electronics (US),
Cloudmore (Sweden), Wipro (India), DXC Technology (US), iPortalis (UK),
Cognizant (US), InContinuum (Netherlands), Flexera (US), BitTitan (US),
OpenText (Canada), CloudFX (Singapore), Proximitum (UK), Eshgro (Netherlands),
NEC (Japan), AWS (US), CloudSME (Germany), Shivaami (India), NTT Data (US),
Infosys (India), TCS (India), Pax8 (US), Oracle (US), Fujitsu (Japan),
Microsoft (US), Capgemini (France), and Doublehorn (US).
The major players have
implemented various growth strategies to expand their global presence and
increase their market shares. Key players such as Accenture, IBM, VMware,
Jamcracker, and ActivePlatform have majorly adopted many growth strategies,
such as new product launches, acquisitions, and partnerships, to expand their
product portfolios and grow further in the CSB market.
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