Cloud Services Brokerage Market To Reach $20.4 Billion By 2029: Expects A CAGR Of 15.8%
28 Jan, 2025
What Is The Evolution Of The Cloud Services Brokerage Market?
The cloud services brokerage market has been demonstrating strong progress over the past few years.
• The market size expanded from $10.34 billion in 2024 to $11.35 billion in 2025, with an impressive CAGR of 9.7%.
This robust growth in the historic period can be credited to the rapid adoption of cloud services, the complexity in multi-cloud environments, the need for seamless integration and interoperability, usage of simplified cloud management, and a focus on cost optimization and efficiency.
What Will Be The Forecast Of The Cloud Services Brokerage Market?
The cloud services brokerage market is anticipated to witness swift growth in the upcoming years.
• It is projected to burgeon to $20.4 billion in 2029, registering a compound annual growth rate (CAGR) of 15.8%.
Factors like the focus on enhancing the customer experience, shift towards self-service and automation, the integration of AI, service aggregation and customization trends, emphasis on interoperability, and various trends including hybrid and multi-cloud adoption, simplified cloud management, digital transformation initiatives, cost optimization, and the adoption of brokerage services for governance are expected to propel the growth during the forecast period.
What Are The Key Factors Driving The Growth Of The Cloud Services Brokerage Market?
The escalating demand for hybrid and multi-cloud strategies is pushing the growth of the cloud services brokerage market. A multi-cloud strategy enables different divisions to select the most optimal computing environment for their purposes and allows porting of workloads across cloud service providers (CSPs). Such strategies significantly enhance performance, cost savings, and scalability. The Flexera 2021 State of the Cloud Report records that as of March 2022, about 92% of businesses have adopted a multi-cloud approach, underlying the significance of this strategy on the growth of the cloud services brokerage market.
How Is The Cloud Services Brokerage Market Segmented?
The cloud services brokerage market is segmented as follows –
1) By Service Type: Integration And Support, Automation And Orchestration, Billing And Provisioning, Migration And Customization, Security And Compliance
2) By Platform Type: Internal Brokerage Enablement, External Brokerage Enablement
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Verticals: BFSI, Telecommunications, IT and ITeS, Government And Public Sector, Retail And Consumer Goods, Manufacturing, Energy And Utilities, Media And Entertainment, Healthcare And Life Sciences
What Are The Prevailing Trends In The Cloud Services Brokerage Market?
Key players in the cloud services brokerage market are integrating technological advancements such as IoT, AI, microservices architecture, blockchain, virtualization, service-oriented architecture, multi-cloud, etc., to augment their service offerings. For instance, BeyondTrust in January 2024, launched Cloud Privilege Broker to address multi-cloud entitlement challenges, significantly enhancing its privileged access management (PAM) offerings.
Who Are The Major Players In The Cloud Services Brokerage Market?
Major companies operating in the cloud services brokerage market include:
• Accenture PLC
• Capgemini SE
• DXC Technology Company
• Wipro Limited
• International Business Machines Corporation (IBM)
• VMware Inc.
• Jamcracker Inc.
• ActivePlatform LLC
• Arrow Electronics Inc.
• Cloudmore Group AB
What Is The Geographical Outlook Of The Cloud Services Brokerage Market?
North America held the largest market share in the cloud services brokerage market in 2024. However, the Asia-Pacific region is expected to experience the fastest growth rate in the upcoming years. The report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.