Cloud Services Brokerage Market Size 2019 – 2025 Astonishing Growth | Top Key players DoubleHorn, Jamcracker, IBM, HPE, RightScale, Dell, Wipro, Arrow Electronics, ActivePlatform, Cloudmore
The integration, sourcing, & procurement segment has the largest cloud services brokerage market share due to the rising demand for integration services across large enterprises to integrate their businesses with clients, third-party vendors, and technology partners. Enterprises are increasingly adopting cloud-based vendor management services to manage orders, billings, and other requirements from numerous vendors. This will augment the growth in the vendor management segment.
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As the competition among cloud services brokerage market players in increasing, organizations started moving toward more agile business models that enhance operational performance and reduce the cost of operation. Therefore, the organizations are adopting multiple cloud platforms to take advantage of different features offered by the vendors. Cloud services brokerage can enable enterprises to simplify their business process by effectively managing the data, services, and process in multiple cloud platforms.
However, the organizations are still reluctant to adopt cloud-based services due to data safety and security issues associated with the services. Moreover, the lack of awareness among SMEs related to the benefits offered by cloud services and CSBs also acts as a major challenge in the cloud services brokerage market growth.
Public cloud is leading the deployment landscape. The public cloud model has witnessed a rise of 30% from 180 billion in 2018 to USD 210 billion in 2019. The cloud services brokerage market is driven by the rising demand for scalability, reliability, and flexibility among organizations. The hybrid model has added benefits of public and private models and is expected to increase with the rising inter-operability between legacy IT infrastructure and modern cloud technologies.
The Asia Pacific cloud services brokerage market is expected to grow rapidly as several startups in India and China will bolster the use of cloud-based services to reduce infrastructure costs and sustain in a highly competitive environment. Governments in Asia are also investing heavily in cloud-based infrastructures. According to an action plan issued by the Chinese Ministry of Industry and Information Technology, the scale of the cloud-computing industry in China is expected to grow more than 2.5 times by 2019 compared to 2015. However, difficulties in application portability and regulatory compliance issues can restrain market growth in this region.
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The major players in the cloud services brokerage market are DoubleHorn, Jamcracker, IBM, HPE, RightScale, Dell, Wipro, Arrow Electronics, ActivePlatform, Cloudmore, InContinuum, DXC Technology, Cognizant, BitTitan, Nephos Technologies, OpenText, ComputeNext, CloudFX, Fujitsu, Tech Mahindra, Atos, Cloudreach, Neostratus, and Proximitum. These providers are focusing on product enhancements to serve a variety of demands and provide better data security.
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