Global Cloud Services Brokerage Market Overview 2024: Size, Drivers, And Trends
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The Business Research Company’s Cloud Services Brokerage Global Market Report 2024 offers crucial insights into the cloud services brokerage market help businesses analyse and build stronger strategies.
The cloud services brokerage market has witnessed rapid growth in recent years, driven by the increasing adoption of cloud services and the need for seamless integration. Let’s explore the key drivers behind this growth and the trends shaping the industry’s future.
- Steady Growth Projection: The market is expected to reach $10.58 billion in 2024, growing at a CAGR of 10.9%, with a forecasted expansion to $17.35 billion by 2028 at a CAGR of 13.2%.
Rising Demand For Hybrid And Multi-Cloud Strategies Fuels Cloud Service Brokerage Market
Hybrid and multi-cloud strategies are becoming increasingly popular, driving the growth of the cloud service brokerage market.
- Adoption of multi-cloud strategies allows organizations to optimize performance, cost savings, and scalability.
- According to the Flexera 2021 State of the Cloud Report, 92% of businesses are adopting a multi-cloud approach, highlighting the widespread adoption of this strategy.
- Major players like Accenture, IBM, and VMware are capitalizing on the growing demand for hybrid and multi-cloud solutions, offering tailored services to meet diverse organizational needs.
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Technological Advancements In The Cloud Service Brokerage Market
Technological innovations play a pivotal role in shaping the cloud service brokerage market landscape.
- Companies are integrating advanced technologies such as IoT, AI, blockchain, and microservices architecture into their solutions to enhance functionality and provide value-added services.
- BeyondTrust’s launch of a cloud privilege broker demonstrates the industry’s commitment to improving cloud infrastructure management and risk mitigation.
- Acquisitions, like BoomTown’s acquisition of Brokermint, signify efforts to enhance real estate solutions and provide comprehensive end-to-end transaction lifecycle support.
Market Segmentation and Regional Dynamics
The cloud services brokerage market is segmented based on service type, platform type, organization size, and verticals, reflecting its diverse applications across industries.
- Service Type Segmentation:
- Integration And Support
- Automation And Orchestration
- Billing And Provisioning
- Migration And Customization
- Security And Compliance
- Platform Type Segmentation:
- Internal Brokerage Enablement
- External Brokerage Enablement
- Organization Size Segmentation:
- Small And Medium-Sized Enterprises (SMEs)
- Large Enterprises
- Verticals Segmentation:
- Banking, Financial Services, And Insurance (BFSI)
- Information Technology (IT) And Information Technology Enabled Services (ITeS)
- Government And Public Sector
- Retail And Consumer Goods
- Energy And Utilities
- Media And Entertainment
- Healthcare And Life Sciences
- North America led the cloud services brokerage market in 2023, with Asia-Pacific expected to be the fastest-growing region in the forecast period.
Future Trends in the Cloud Services Brokerage Market
Looking ahead, several trends are expected to shape the future of the cloud services brokerage market.
- Increased Demand for Simplified Cloud Management: Organizations will seek simplified solutions to manage complex cloud environments more effectively.
- Rise of Digital Transformation Initiatives: The focus on digital transformation will drive demand for cloud services brokerage solutions that facilitate seamless integration and agility.
- Emphasis on Cost Optimization and Efficiency: Companies will prioritize cost optimization and efficiency, leading to increased adoption of brokerage services for governance and resource optimization.
- Integration of AI and Automation: AI and automation will play a critical role in enhancing cloud management processes and driving operational efficiencies.
- Ethical AI and Responsible Practices: There will be a growing emphasis on ethical AI and responsible practices to ensure transparency, security, and compliance.
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The Cloud Services Brokerage Global Market Report 2024 provides a comprehensive outlook of the cloud services brokerage market for the historic years (2010 -2021) and ten years forecast (2023 – 2032).The cloud services brokerage market forecast offers a thorough analysis oncloud services brokeragemarket size, cloud services brokerage market share,prominent players and their strategies.
The Table Of Content For The Cloud Services Brokerage Market Include:
1. Cloud Services Brokerage Market Executive Summary
2. Cloud Services Brokerage Market Segments
3. Cloud Services Brokerage Market Size And Cloud Services Brokerage Market Growth Rate
4. Key Cloud Services Brokerage Market Trends
5. Major Cloud Services Brokerage Market Drivers
25. Key Mergers And Acquisitions In The Cloud Services Brokerage Market
26. Top Cloud Services Brokerage Companies
27. Cloud Services Brokerage Market Opportunities And Strategies
28. Cloud Services Brokerage Market, Conclusions And Recommendations
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