Cloud Services Brokerage Market Size Is Projected To Grow CAGR Of 16.60% During The Forecast Period | IBM (U.S.), VMware (U.S.), Jamcracker (U.S.), BitTitan (U.S.), NTT Data (U.S.), ActivePlatform (Belarus), Arrow Electronics (U.S.), Cloudmore (Sweden), C

A business concept called cloud services brokerage (CSB) enables organisations to find, evaluate, buy, and manage cloud services from various cloud service providers. It acts as a go-between for users and cloud service providers, assisting businesses in combining many clouds into a single, cohesive cloud platform. By removing the need for expensive hardware and software infrastructure, CSB solutions assist organisations in lowering operational expenses and increasing IT efficiency. By 2030, the market for cloud services brokerage is anticipated to be worth USD 42.17 billion, expanding at a CAGR of 16.60% from 2020 to 2030.

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This development is primarily driven by increased cloud service demand, rising Internet of Things (IoT) enabled solution adoption, and rising digital transformation activities by businesses globally. The market for cloud services brokerage is expanding in part due to the rising availability of CSB services such as cloud management, disaster recovery, and security solutions.

Due to the increasing demand from businesses for cloud services and effective management, the procurement sector of the service outlook is anticipated to hold the biggest market share throughout the projection period. The market for cloud services brokerage is expanding as a result of the rising demand for solutions that support multi-cloud architectures.

Due to the scalability and affordability provided by public cloud services, the public cloud deployment category is predicted to hold the biggest market share during the projection period. To take advantage of the cutting-edge features provided by public cloud suppliers, businesses are progressively abandoning their antiquated on-premise systems and embracing cloud services. The exterior brokerage enablement subcategory is expected to hold the largest market share among the platforms during the forecast period. This market is anticipated to develop as a result of businesses' rising desire for third-party services like automation and integration.

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Due to the low prices connected with the platforms provided to SMEs and the growing acceptance of platform-as-a-service (PaaS) solutions by SMEs, the SME segment is anticipated to have the greatest share of the market during the forecast period. Furthermore, the expansion of this market is projected to be fueled by the introduction of disruptive technologies like blockchain, artificial intelligence (AI), machine learning (ML), and others.

Because consumer goods organisations are increasingly using cloud-based solutions for applications like customer relationship management (CRM) and supply chain management (SCM), the end user sector for consumer goods is predicted to experience the largest increase throughout the projection period. The adoption of cloud computing solutions in this industry is also being fueled by consumer products companies, who are now making use of the capabilities of cloud-based platforms to offer improved customer experiences.

As a result of its robust technological infrastructure and the existence of significant cloud services providers like Microsoft and Amazon Web Services, North America is predicted to hold the greatest market share in the cloud computing sector among the other regions. Additionally, the expansion of this market is projected to be fueled by the introduction of disruptive technologies like blockchain, artificial intelligence (AI), machine learning (ML), and others.

Microsoft plans to introduce Azure Blockchain as a Service in January 2022, giving businesses the option to construct and administer blockchain networks in the cloud. Google introduced the Cloud AI Platform in March 2022. This platform offers businesses a variety of ML and AI capabilities, including machine vision, natural language processing (NLP), and predictive analytics. AWS Fargate, a serverless computing technology that simplifies the deployment and management of cloud applications, was introduced by Amazon in January 2021.

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