Cloud Services Brokerage Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Cloud Services Brokerage market in 2021?

The global cloud services brokerage market had a market size of USD 7.25 billion in 2021, with a Compound Annual Growth Rate (CAGR) of 12.5% from 2021 to 2028. As a result, the market is anticipated to reach a value of USD 17.43 billion by 2028.

COVID-19 Impact on the Cloud Services Brokerage Market

The COVID-19 pandemic has significantly impacted the cloud services brokerage market. With the sudden shift to remote work and digital transformation initiatives by businesses, the demand for cloud services brokerage solutions has surged. Organizations are relying on cloud services brokers to optimize their cloud spending, enhance security, and streamline cloud management. The pandemic has accelerated the adoption of cloud services brokerage services across various industries.

Cloud Services Brokerage Dynamics

The dynamics of the cloud services brokerage market are evolving rapidly, driven by factors such as increasing adoption of cloud services, rising demand for hybrid cloud solutions, and the need for efficient cloud management. Cloud services brokers are playing a crucial role in helping organizations navigate the complexities of multi-cloud environments, ensuring cost savings, and enhancing operational efficiency.

Segments and Related Analysis

The cloud services brokerage market can be segmented based on service type, deployment model, organization size, and end-user industry. The key segments include Cloud Service Aggregation, Cloud Service Customization, Cloud Service Integration, and Cloud Service Orchestration. Each segment offers unique value propositions and caters to specific customer needs.

By Region Analysis

The cloud services brokerage market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America currently holds the largest market share, driven by the presence of major cloud service providers and high adoption rates of cloud services. However, the Asia Pacific region is expected to witness the fastest growth due to increasing digitalization initiatives and expanding cloud infrastructure.

Key Market Players and Competitive Landscape

The cloud services brokerage market is highly competitive, with key players such as Accenture plc, IBM Corporation, Cognizant Technology Solutions, and DXC Technology Company leading the market. These players are focusing on strategic partnerships, acquisitions, and product innovations to gain a competitive edge in the market. The competition among market players is intensifying as the demand for cloud services brokerage services continues to grow.

Recent Happenings in the Cloud Services Brokerage Market

1. In May 2022, Accenture announced the acquisition of a cloud services brokerage startup to enhance its cloud management capabilities. 2. IBM Corporation introduced a new cloud services brokerage platform with advanced security features in July 2022. 3. Cognizant Technology Solutions partnered with a leading cloud service provider to offer innovative cloud solutions to customers in September 2022. 4. DXC Technology Company launched a comprehensive cloud services brokerage suite tailored for enterprises in October 2022.