SAN FRANCISCO, Feb. 18, 2019 /PRNewswire/ -- The global cloud services brokerage market size is estimated to reach USD 17.2 billion by 2025, according to a new study by Grand View Research, Inc. It is projected to expand at a CAGR of 17.3% during the forecast period. Cloud Service Brokerage (CSB) is a business model that helps plan and manage IT resources across all cloud models from numerous vendors whilst reducing compliance risk and total IT costs. It helps reduce business complexities through managing, integrating, orchestrating, and controlling multi-cloud environments on a centralized platform.
Key suggestions from the report:
- In 2018, North America captured a significantly high market share, attributed to a large number of data centers along with several large IT and cloud service providers
- Asia Pacific is expected to witness significant growth from 2019 to 2025, mainly due to growing adoption of cloud services in small and medium enterprises to reduce infrastructure costs and to sustain in a highly competitive environment
- Cloud vendor management segment is anticipated to witness robust growth over the forecast period owing to benefits of these services that allow efficient management of multi-cloud platforms for numerous vendors
- External brokerage enablement segment delivers multi-tenant cloud delivery and management platform, which assist applications such asdelegated administration, self-service cloud fulfillment, and channel enablement for distributors, cloud service providers, and resellers. This is expected to drive segment growth over the forecast period
- Prominent players operating in the cloud service brokerage market focus on mergers and acquisitions to deliver high security over multi-cloud platforms and to enhance their regional presence. For instance, BMC Software, Inc. acquired CorreLog, Inc. in October 2018 to deliver real-time security management to its mainframe customers.
Read 101 page research report with TOC on "Cloud Service Brokerage (CSB) Market Size, Share & Trends Analysis Report By Service, By Deployment Model, By Organization Size, By Platform, By End-use Industry, By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/cloud-service-brokerage-csb-market
Additionally, enterprises can provide several cloud-based services from a single point of access, including administration, billing, and support, to their partners and customers. The significant rise in adoption of multi-cloud platforms to cater to the needs of various clients, vendors, and technology partners is likely to remain the key factor driving growth of the global cloud services brokerage market over the forecast period.
Cloud service brokers help manage services implemented on hybrid clouds and integrate these platforms with the systems and cloud-based applications deployed at consumer's premises. The aim is to make services more secure and specific to the company. With the increasing use of cloud services for both B2B processes and back-office systems, integration and coordination of a high order is needed. Moreover, the rise of outsourcing of interdependent business processes to multi-cloud vendors makes business processes highly complex. This is likely to result in increased adoption of CSB solutions over the forecast period.
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, is expected to lead the market toward a remarkable growth path over the forecast period. Furthermore, the rapid migration of Small and Medium Enterprises (SMEs) on cloud platforms - to reduce infrastructure costs and improve the ease of data accessibility - is expected to lead to high demand for cloud service brokerage solutions and services.
Besides, rapidly increasing numbers of digital payment vendors and rising government initiatives aimed at the promotion of digital banking technologies are likely to foster growth of the cloud service brokerage market over the forecast period. Key market players focus on mergers and acquisitions to expand their service portfolios, customer base, and regional presence. However, the lack of awareness about the benefits of CSB solutions, coupled with the rising concerns related to cybersecurity among consumers, may hinder the growth over the forecast period.
Grand View Research has segmented the global Cloud Services Brokerage (CSB) market on the basis of service, deployment model, organization size, platform, end-use industry, and region:
- Cloud Services Brokerage Service Outlook (Revenue, USD Million, 2014 - 2025)
- Cloud Integration, Sourcing, and Procurement
- Cloud Vendor Management
- Cloud Governance & Control
- Cloud Services Brokerage Deployment Model Outlook (Revenue, USD Million, 2014 - 2025)
- Private Cloud
- Public Cloud
- Hybrid Cloud
- Cloud Services Brokerage Platform Outlook (Revenue, USD Million, 2014 - 2025)
- Internal Brokerage Enablement
- External Brokerage Enablement
- Cloud Services Brokerage Organization Size Outlook (Revenue, USD Million, 2014 - 2025)
- Large Enterprises
- Small & Medium Enterprises
- Cloud Services Brokerage End-use Industry Size Outlook (Revenue, USD Million, 2014 - 2025)
- IT & Telecom
- Government & Public Sector
- Consumer Goods & Retail
- Energy & Utilities
- Cloud Services Brokerage Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Find more research reports on Communications Infrastructure market, by Grand View Research:
Cable Management System Market – Global cable management system market size was valued at USD 14.26 billion in 2017. It is estimated to expand at a CAGR of 8.2% during the forecast period
Point-of-Sale Terminals Market – Global Point-of-Sale terminals market size was valued at USD 62.34 billion in 2018 and is projected to expand at a CAGR of 7.8% during the forecast years
Data Center Power Market – Global data center power market size was USD 6.80 billion in 2018 and is expected to register a CAGR of 6.9% from 2019 to 2025
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
SOURCE Grand View Research, Inc