New York, April 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cloud Services Brokerage Global Market Report 2023" - https://www.reportlinker.com/p06319905/?utm_source=GNW
, Hewlett Packard Enterprise Company, NEC Corporation, Rightscale Inc., Infosys Limited, Fujitsu Ltd., Tech Mahindra Limited, Activeplatform Limited, Arrow Electronics Inc., Bittitan Inc., OpenText Corporation, Cloudmore AB, Computenext Inc., Dell Inc., Doublehorn, Nephos Technologies and Incontinuum Software BV.
The global cloud services brokerage market grew from $8.92 billion in 2022 to $10.14 billion in 2023 at a compound annual growth rate (CAGR) of 13.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cloud services brokerage market is expected to grow to $17.15 billion in 2027 at a CAGR of 14.0%.
The cloud services brokerage (CSB) market includes revenues earned by entities by providing services that assist organizations of all kinds in utilizing cloud services at a lower cost and risk.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Cloud services brokerage (CSB) refers to an IT role and business model in which a firm or other entity provides value to one or more cloud services (public or private) on behalf of one or more service users.The primary roles of a cloud services broker include aggregation, integration, and customization brokerage.
CSB includes the process of controlling how cloud services are used, performed, and delivered while also negotiating contracts between cloud providers and cloud users.
North America was the largest region in the cloud services brokerage market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the cloud services brokerage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main service types of cloud services brokerage are integration and support, automation and orchestration, billing and provisioning, migration and customization, and security and compliance.Integration and support cloud services brokerage provides integration and support services.
Integration and support provide services such as backup and recovery, resiliency, and security.Internal and external brokerage enablement are two platforms for cloud services brokerage.
Small, medium, and large-scale enterprises in banking, financial services and insurance (BFSI), telecommunications, information technology (IT) and information technology-enabled services (ITeS), government and public sector, retail and consumer goods, manufacturing, energy and utilities, media and entertainment, healthcare and life sciences use the cloud services brokerage.
The growing demand for hybrid and multi-cloud strategies is expected to propel the cloud service brokerage market.A multi-cloud strategy allows different divisions to choose the optimal computing environment for their purposes.
It also allows porting of workloads across cloud service providers (CSPs).Adopting a multi-cloud and hybrid architecture will improve performance, cost savings, and scalability.
According to the Flexera 2021 State of the Cloud Report, in March 2022, which surveyed 753 global cloud decision-makers and users, organizations are broadly adopting a multi-cloud strategy, with an estimated 92% of businesses adopting a multi-cloud approach. Therefore, the growing demand for hybrid and multi-cloud strategies will drive the cloud service brokerage market.
Cloud Technological innovations are key trends in gaining popularity in the cloud service brokerage market.Major companies operating in the cloud services brokerage market are focused on providing technologically-advanced solutions to strengthen their market position.
These companies are implementing next-generation cloud services brokerage technologies into their services, such as internet of things (IoT), artificial intelligence (AI), microservices architecture, blockchain, virtualization, service-oriented architecture, multi-cloud, and others to enhance a given service by strengthening some specific competence and providing value-added services. For instance, in December 2021, BeyondTrust, a US-based privileged access management company, launched a cloud privilege broker to assist their customers in regaining control of essential cloud infrastructure and improving communication and risk mitigation associated with multi-cloud entitlements.
In March 2021, BoomTown, a US-based real estate platform development company, acquired Brokermint for an undisclosed amount.Through its acquisition of Brokermint, BoomTown has become one of the companies in fully integrated, end-to-end real estate transaction lifecycle solutions.
Brokermint is a US-based provider of cloud-based brokerage management software solutions.
The countries covered in the cloud services brokerage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The cloud services brokerage market research report is one of a series of new reports that provides cloud services brokerage market statistics, including cloud services brokerage industry global market size, regional shares, competitors with a cloud services brokerage market share, detailed cloud services brokerage market segments, market trends and opportunities, and any further data you may need to thrive in the cloud services brokerage industry. This cloud services brokerage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06319905/?utm_source=GNW
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