A cloud services brokerage is a service provided by a third party to cloud services available to consumers on their behalf. They act as an intermediary between cloud providers and cloud consumers through three main functions, namely, aggregation, integration, and customization. Cloud Services Brokerage (CSB) technology can combine all cloud services under one account. In other words, using efficient CSB technology, the customer can manage the accounts of different cloud service providers for different platforms, such as infrastructure as a service (IaaS), platform as a service (PaaS) and software as a service (SaaS).
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CLOUD SERVICES BROKERAGE MARKET DYNAMICS
Increasing adoption of hybrid IT and multi-cloud management is significant factor boosting the market growth for cloud brokerage services and increasing flexibility and productivity and lowering enterprise costs are few other factors driving the market growth. However, growing concerns about data security and lack of awareness of cloud brokerage services are some of the main factors hindering the growth of the market.
COVID 19 IMPACT ON CLOUD SERVICES BROKERAGE MARKET
Covid19, drastically affects the world supply chain and industrial sector growth. At the initial stages of the pandemic, the world experienced, ‘supply shocks’. In the foreseeable future, the COVID-19 pandemic has accelerated the existing trend toward digital marketplaces. Many vertical businesses have adopted a work-from-home model to protect employee well-being and maintain operational efficiency while driving demand for cloud solutions. As more enterprises return to developing their IT infrastructure with cloud solutions, the demand for CSB solutions will continue to grow.
CLOUD SERVICES BROKERAGE MARKET SEGMENTAL OVERVIEW
The report analyses the cloud services brokerage market based on service type, organization size, deployment model, platform, vertical, and geography.
CLOUD SERVICES BROKERAGE MARKET BY SERVICE TYPE
By service type, the global cloud services brokerage market is segmented into integration and support, automation and orchestration, billing and provisioning, migration and customization, security and compliance, and other. Cloud brokers help organizations integrate external cloud services with their core back-end systems. The broker simplifies the migration to the cloud for its customers by integrating the various interdependent business processes of the organization.
CLOUD SERVICES BROKERAGE BY ORGANIZATION SIZE
By organization size, the global cloud services brokerage market is segmented into small and medium-sized enterprises and large enterprises. Large enterprises is expected to hold the largest market share in the forecast period. Large enterprises using cloud brokerage services and supporting solutions are able to provide new services to their customers and open their horizons to enter promising markets.
CLOUD SERVICES BROKERAGE MARKET BY DEPLOYMENT MODEL
The global cloud services brokerage by deployment model is classified into public cloud and private cloud.Among these, public cloud is expected to adopt largest market share. In public cloud deployment model, various resources, such as applications, storage, virtual servers, and hardware, are available to the enterprise's customers on the internet. The services offered under the public implementation model are either free or subscription-based. It helps organizations meet their scalability needs, while providing a pay per usage pricing strategy for ease of use and ease of implementation.
CLOUD SERVICES BROKERAGE MARKET BY PLATFORM
The global cloud services brokerage by platform is classified into internal brokerage enablement and external brokerage enablement. The external brokerage segment is expected to show significant growth in the forecast period, driven by the rapidly growing demand for CSBs to integrate and manage multiple vendors, resellers and CSPs on a single platform and accept multiple currencies, time zones, languages and date formats.
CLOUD SERVICES BROKERAGE MARKET BY VERTICAL
The global cloud services brokerage by vertical is classified into BFSI, telecommunications, IT and ITES, government and public sector, retail and consumer goods, manufacturing, energy and utilities, media and entertainment, healthcare and life sciences, and others.
CLOUD SERVICES BROKERAGE MARKET BY GEOGRAPHY
Geographically, the cloud services brokerage market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the rest of the world regions which includes Latin America, and Middle East & Africa. The Asia-Pacific region is projected to experience the fastest growth in the forecast years, due to the widespread adoption of CSBs in China, and India. APAC is made up of countries with a complex ecosystem of startups, public companies, small and medium-sized enterprises and large multinational companies using and developing a range of valuable information and communication technology (ICT) solutions. Rapid development in telecommunications, cloud computing, and IoT have led several organizations to adopt cloud-based strategies in the region.
CLOUD SERVICES BROKERAGE KEY PLAYERS
Some of the major players operating in this market include IBM (US), VMware (US), Jamcracker (US), ActivePlatform (Belarus), Arrow Electronics (US), Cloudmore (Sweden), Wipro (India), DXC Technology (US), iPortalis (UK), Cognizant(US), InContinuum (Netherlands), Flexera (US), BitTitan (US), OpenText (Canada), CloudFX (Singapore), Proximitum (UK), Eshgro (Netherlands), NEC (Japan), AWS (US), CloudSME (Germany), and Shivaami (India)
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