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Cloud Services Brokerage Market Poised for Growth Driven by Multi-Cloud Adoption and Evolving Technology Needs
Cloud Services Brokerage (CSB) Market
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Market Drivers
One of the key factors driving market growth is the wide range of options available to organizations through multi-cloud platforms. Businesses are increasingly relying on external expertise to select the best cloud solutions that ensure performance, security, and agility. As technology continues to evolve rapidly, companies are adapting their procedures to meet customer demands. Cloud service providers are embracing flexible IT procurement strategies, offering on-demand services that help organizations streamline processes and better integrate data across multiple platforms.
The growing acceptance of cloud services, particularly in sectors like Infrastructure-as-a-Service (IaaS), Software-as-a-Service (SaaS), and Platform-as-a-Service (PaaS), is also contributing to market expansion. The popularity of Pay-As-You-Go (PAYG) pricing models simplifies billing and enhances performance, making it an attractive option for many organizations. A recent contract awarded to Peraton, valued at up to USD 1 billion, exemplifies this trend as it supports the U.S. Department of the Interior in procuring secure cloud services.
Market Restraints
Despite the positive outlook, the market faces challenges, including a lack of awareness about cloud brokerage services and growing security concerns surrounding data management. Compliance costs and regulations specific to industries can also hinder the adoption of these services. Financial service authorities, for instance, impose stringent rules on cloud computing, requiring firms to secure regulatory approvals before outsourcing tasks, which may impede market growth in the near term.
Segment Insights
The CSB market can be segmented by platform, deployment model, and end-use.
Platform Insights: The market is divided into internal and external service brokerage. The internal service brokerage segment held the largest market share in 2022, offering benefits such as spend management, compliance, and centralized resources for users of both public and private clouds. Meanwhile, the external service brokerage segment is expected to grow rapidly, providing quick solutions and advantages like multi-tenancy cloud delivery.
Deployment Model Insights: The cloud services brokerage market is categorized into public, private, and hybrid deployment models. The public cloud segment dominated the market in 2022, driven by its scalability and cost-effectiveness, allowing businesses to pay only for the resources they use.
End-Use Insights: In terms of end-use sectors, the retail and e-commerce segment accounted for the largest market share in 2022. Retailers are adopting advanced technologies, including cloud computing and big data analytics, to enhance customer experience and drive sales. The healthcare segment, however, is projected to grow at the fastest rate due to the increasing demand for cloud brokerage services to manage the vast amounts of data generated in the industry.
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Cloud Services Brokerage Top Companies and Competitive Landscape
The global Cloud Services Brokerage market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products.
Some of the major companies included in the global Cloud Services Brokerage (CSB) market report are:
IBM
VMware, Inc
Jamcracker, Inc.
ActivePlatform
Rochester Electronics
Cloudmore
Wipro
DXC Technology Company
iPortalis
Cognizant
InContinuum Software B.V.
Flexera
BitTitan, Inc.
CloudFX
Open Text Corporation
Eshgro BV
NEC Corporation
Amazon Web Services
NTT DATA Group Corporation
Infosys Limited
TATA Consultancy Services Limited
Microsoft
Oracle
Capgemini
Fujitsu
Hewlett Packard Enterprise Development LP
Atos SE
Tech Mahindra Limited.
Cloud Services Brokerage Latest Industry Updates
In April 2023, to help healthcare payers and providers access technology solutions, streamline claims processing, and improve interoperability to maximize business operations and provide better patient and member experiences, Cognizant and Microsoft announced that they were expanding their healthcare collaboration.
In January 2022, for clients to efficiently run their compute-bound High-Performance Computing (HPC) workloads on AWS with up to 65 percent better price performance over equivalent x86-based compute-optimized instances, AWS announced Amazon EC2 Hpc6a instances. Customers have requested more cores with greater computation power, memory, and network performance as their operations get more complex in order to shorten turnaround times.
Interested in knowing more relevant information? Click here: https://www.emergenresearch.com/industry-report/cloud-services-brokerage-market
For the purpose of this report, Emergen Research has segmented the global Cloud Services Brokerage market on the basis of service type, platform, deployment model, enterprise, end-use, and region:
Service Type Outlook (Revenue, USD Billion; 2019-2032)
Integration and Support
Automation and Orchestration
Billing and Provisioning
Migration and Customization
Security and Compliance
Other Services
Platform Outlook (Revenue, USD Billion; 2019-2032)
Internal Cloud Services Brokerage
External Cloud Services Brokerage
Deployment Model Outlook (Revenue, USD Billion; 2019-2032)
Public
Private
Hybrid
Enterprise Outlook (Revenue, USD Billion; 2019-2032)
Large Enterprises
Small and Medium Enterprises
End-Use Outlook (Revenue, USD Billion; 2019-2032)
BFSI
IT and ITES
Telecommunication
Government
Healthcare
Retail and Ecommerce
Media and Entertainment
Manufacturing
Other Industries
Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
Look Over transcripts provided by Emergen Research
Cloud Services Brokerage (CSB) Market Size@ https://www.emergenresearch.com/industry-report/cloud-services-brokerage-market/market-size
Cloud Services Brokerage (CSB) Market Share@ https://www.emergenresearch.com/industry-report/cloud-services-brokerage-market/market-share
Cloud Services Brokerage (CSB) Market Trends@ https://www.emergenresearch.com/industry-report/cloud-services-brokerage-market/market-trends
Cloud Services Brokerage (CSB) Regional Market Demand@ https://www.emergenresearch.com/industry-report/cloud-services-brokerage-market/regional-market-demand
Cloud Services Brokerage (CSB) Market Analysis@ https://www.emergenresearch.com/industry-report/cloud-services-brokerage-market/market-analysis
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
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About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors
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