Market Overview
Market Research Future
(MRFR) reveals in its latest study that the cloud services brokerage (CSB)
market 2020 can advance at a rate of 16.4% from 2019 to 2024 (review period).
The study also confirms that the market can expand to a size of USD 14.83 billion
by 2024. We will provide covid-19 impact analysis with the report, offering an
extensive market evaluation post the coronavirus disease outbreak.
Key Drivers and Top
Barriers
The novel coronavirus has
compelled a huge number of IT enterprises to take up the work from home model
after the imposition of the lockdown across nations. The situation has boosted
the demand for cloud services across the world; with digital tool providers
such as Zoom and Microsoft observing significant uptick in the deployment across
Italy, the US and China due to the SARS-CoV-2 outbreak. As a result, experts
believe that the demand for cloud services as well as the expenditure on
communications equipment, telecom services and specialized software can boom
during these uncertain times. The pandemic has also led to higher spending on
those working remotely along with the educators with the surge in the work from
home model and online courses trending across the education industry.
With the dearth in
on-site IT professionals due to the lockdown, companies are progressively
adopting cloud capabilities to maintain, monitor and check their storage and
server installations within the data centers. Therefore, the COVID-19 has
enhanced the use of cloud services to facilitate disaster-averse and stronger
systems that are accessible to the remote workforce while safeguarding the data
integrity. In a nutshell, the surge in the deployment of multi-cloud management
and hybrid IT can be a major booster in the Cloud
Services Brokerage Market. Also, following the COVID-19 impact on the
IT sector, the increasing requirement for cost-effective and better quality
brokerage solutions can benefit the worldwide market.
Most of the leading
competitors prefer product development and partnerships to solidify their
market position, while catering to the companies across different verticals. To
illustrate, in June 2020, Trustology, a Crypto custody solutions provider
entered a partnership with GCEX, an OTC broker to develop a secure and reliant
liquidity network for digital asset trading, to meet with the demands of their
client base that includes high-net-worth professionals, brokers and
institutional investors. The partnership is expected to enable the clients to
finish various transactions quickly, but with better security.
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Market Segmentation
The Cloud Services Broker
Market has been considered for service, platform, organization size, deployment
and vertical.
The services-based
sections are training and consulting, security and compliance, workload management,
support and maintenance, reporting and analytics, catalog management and
operations management.
The platforms studied in
the report are external brokerage enablement as well as internal brokerage
enablement.
The ranges of the
organization size covered in the market study include small- and medium-sized
enterprise/SME along with large enterprise.
The deployment models
examined in the research are private cloud, hybrid cloud and public cloud.
The vertical-dependent
market segmentation comprises BFSI/banking, financial services, and insurance,
media and entertainment, manufacturing, healthcare and life sciences, energy
and utilities, retail and consumer goods, government and public sector, IT and
telecommunication, and more.
Regional Insight
The geographical
dissection of the CSB market covers South America, Europe, North America,
APAC/Asia Pacific and the Middle East and Africa/MEA.
MRFR’s evaluations
confirm that North America is the highest revenue generating market, as a
result of the increasing adoption of CSB solutions among enterprises in line
with the rising use of multi-cloud and hybrid IT management solutions. The
regional market is headed by the US, given the country’s lead in the
technological world as well as the high prevalence of the cloud technology.
Also, the surge in mobile workforce post COVID-19 outbreak along with the
mounting demand for disaster security and recovery to prevent high costs
related to network downtime can boost the uptake of cloud managed services and
ultimately cloud services brokerage solutions in the region.
Europe can be the second
biggest gainer in the global market, thanks to the high demand for
Software-as-a-Service (SaaS), Platform as a Service (PaaS),
Infrastructure-as-a-Service (IaaS), and pay-as-you-go pricing model.
The APAC market is
presumed to attain the fastest expansion rate in the ensuing years, mostly due
to the escalating number of IT start-ups in India and China. Also, with the
accelerated consumption of cloud-based services and solutions, the regional
market can demonstrate strong growth over the next few years. The vast
investments on the development of the telecom infrastructure and the focus on
offering better bandwidth to the consumers also induces growth of the cloud
services brokerage market in the region.
Top Contenders
Some of the top
contenders in the cloud services brokerage industry include Atos (France), NEC
Corporation (Japan), BT (UK), Infosys (India), Arrow Electronics (US), IBM
Corporation (US), ActivePlatform (US), Wipro (India), DXC Technology (US),
CloudFX (Singapore), Fujitsu (Japan), Cognizant (US), BitTitan (US), Accenture
(Ireland), Capgemini (France), and more.
Some more competitors in
the global industry are identified as Progressive Infotech (India), Neostratus
Zrt (Hungary), CLOUDREACH (UK), Pax8 (US), Tech Mahindra (India), Proximitum
(UK), NTT DATA (Japan), to name a few.
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https://www.marketresearchfuture.com/reports/cloud-services-brokerage-market-8124
Cloud Services Brokerage Market Research Report:
Information by Technology (Hall Effect, Magneto Resistive, Variable
Reluctance), By Application (Automotive, Industrial, Aerospace & Defense,
Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle
East & Africa, and South America)—Forecast till 2030
About Market Research
Future:
At Market Research Future (MRFR), we enable our customers to unravel
the complexity of various industries through our Cooked Research Report (CRR),
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MRFR team have supreme objective to provide the
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