Complete Analysis of Cloud Service Brokerage Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027. Increasing demand for hybrid IT solutions across large enterprises coupled with growing need for storage and effective management of large volumes of enterprise data is one of the major factors driving the growth of Global Cloud Service Brokerage Market.
Brandessence Market Research has published a new report title and According to the Study Cloud Service Brokerage Market is valued at USD 5278.4 Million in 2020 and expected to reach USD 14828.1 Million by 2027 with a CAGR of 15.9 % over the forecast period.
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Scope of Global Cloud Service Brokerage Market Report
The function of a cloud service broker (CSB) is to produce a marketplace for enterprise-approved services, integrate cloud services with one another and with on-premise applications, and also make sure the security of the company data. Cloud service brokerage provides the intermediary between cloud providers and cloud consumer that assist companies in choosing the services and offerings that most closely fits their needs. They also assist in the deployment and integration of apps across multiple clouds or provide a choice and possible cost-saving function, which include multiple competing services from a catalog. Approximately, over 30% of enterprises have adopted a cloud service brokerage to raise support cloud technology. Three fundamental sections which are addressed by a cloud service brokerage in cloud adoption are aggregation, integration, and customization brokerage. Aggregation– through an organization approved cloud application, end-users get access to the cloud enterprise software; integration– ensuring data interchange of cloud applications among one another and with on-premise applications to align business processes; and customization– augmentation of cloud services with variable data plans or improved security and compliance.
The COVID-19 outbreak has thrown light on weaknesses in business models across sectors, it has offered several opportunities to CSB vendors to expand their business across enterprises because the adoption of cloud has increased in lockdown. Amidst lockdown, many companies are reducing their IT spending in 2020. They’re strategically reconsidering their cost (CAPEX) spending.
Global cloud services brokerage market is segmented based on platform, development model, end use industry and region & country level. Based on platform, the market is divided into internal cloud services brokerage and external cloud services brokerage. based on development model, the market is divided into public, Private, and Hybrid. Based on end use industry, the market is divided into manufacturing, BFSI, retail and others.
The regions covered in this global Cloud Service Brokerage market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Cloud Service Brokerage is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Key Players for Global Cloud Service Brokerage Market Report:
Some major key players for Cloud Service Brokerage market are Accenture (Ireland), IBM, VMware, Jamcracker, Active Platform, Arrow Electronics, Cloudmore, Wipro, DXC Technology, iPortalis, Cognizant, InContinuum, Flexera, BitTitan, OpenText, CloudFX, Proximitum, Eshgro, NEC, AWS, CloudSME, Shivaami, and others.
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Rapid Growth in Demand for Hybrid IT Solutions Across Large Enterprises Coupled with Growing Need for Storage and Effective Management of Large Volumes of Enterprise Data are Some of the Major factors Driving the Market Growth
The major factor driving the growth of global cloud service brokerage market is the rapid growth in demand for hybrid IT solutions across large enterprises. According to “Future Possibilities report” of United Nations; as computing power and storage become cheaper and more efficient, and 5G technology is unrolled, future rises in connectivity are driven more by devices than people. In addition to this, growing need for storage and effective management of large volumes of enterprise data is also supplementing the market growth. According to data firm “ Spice works” adoption of cloud storage will rise: 39% of companies use cloud-based storage infrastructure (i.e., on Azure or AWS), and a further 20% decide to by 2022.mong organizations using or progressing to use file-sharing services, 70% have adopted Microsoft One Drive, and a further 11% commit to within two years. However, poor communication compatibility between sensors, systems, and IoT software can hamper the market growth. In spite of that, increasing number of technological advancement in this field may provide various opportunities for the further growth of the market.
North America is Expected to Dominate the Global Cloud Service Brokerage Market
The global Cloud Service Brokerage market is segmented into North America, Europe, Asia-Pacific Latin America and Middle East & Africa. North America is expected to dominate the cloud service brokerage market within the forecast period attributed to the strategic shift of enterprises adopting CSB solutions and increasing adoption of hybrid IT and multi-cloud management solutions in this region. Organizations have invested substantially in advanced technologies to achieve a competitive advantage and increase business productivity.
Europe is anticipated to be the second largest market during the forecast period owing to the rising need among enterprises to scale back the enterprise cost while maintaining the performance of the enterprise. These platforms and services offer improved agility and performance and manage and deliver multi-cloud services.
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Key Benefits for Global Cloud Service Brokerage Market Report:
Global Cloud Service Brokerage Market report covers in-depth historical and forecast analysis.
Global Cloud Service Brokerage Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
Global Cloud Service Brokerage Market report helps to identify opportunities in marketplace.
Global Cloud Service Brokerage Market report covers extensive analysis of emerging trends and competitive landscape.
Global Cloud Service Brokerage Market Segmentation:
By Platform:
Internal Cloud Services Brokerage
External Cloud Services Brokerage
By Development Model:
Public
Private
Hybrid
By End Use Industry:
Manufacturing
BFSI
Retail
Others
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