Cloud Services Brokerage Market Size To Reach $30.49 Billion By 2030

Cloud Services Brokerage Market Growth & Trends

The global cloud services brokerage market size is anticipated to reach USD 30.49 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 17.3% from 2024 to 2030. 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.

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.

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Cloud Services Brokerage Market Report Highlights

• Integration and support services accounted for the highest revenue share of 24.2% in 2023. The increasing adoption of hybrid and multi-cloud strategies among enterprises globally has resulted in the emergence of complicated IT infrastructures.

• Internal brokerage enablement platforms accounted for a larger market share in 2023. These platforms provide a unified framework for organizations to manage their cloud services, enabling streamlined governance and control.

• The public cloud segment dominated the market with the highest revenue share in 2023. This is due to the affordability and enhanced security features of public cloud platforms.

• The IT & telecom sector accounted for the highest market share in 2023. This is owing to the industry’s reliance on high-end technology and infrastructure to drive innovation, efficiency, and customer satisfaction.

• North America cloud services brokerage market dominated the global market with a revenue share of 39.6% in 2023. This substantial contribution can be attributed to the region's early adoption and widespread acceptance of cloud-based technologies, coupled with a robust ecosystem of cloud service providers and brokerage platforms in countries such as the U.S. and Canada.

Cloud Services Brokerage Market Segmentation

Grand View Research has segmented the global cloud services brokerage market report based on service, platform, deployment, enterprise size, end-use, and region:

Cloud Services Brokerage Service Outlook (Revenue, USD Million, 2018 - 2030)

• Integration and Support

• Automation and Orchestration

• Billing and Provisioning

• Migration and Customization

• Security and Compliance

• Others

Cloud Services Brokerage Platform Outlook (Revenue, USD Million, 2018 - 2030)

• Internal Brokerage Enablement

• External Brokerage Enablement

Cloud Services Brokerage Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• Private

• Public

• Hybrid

Cloud Services Brokerage Enterprise  Size Outlook (Revenue, USD Million, 2018 - 2030)

• Large Enterprises

• Small and Medium-sized Enterprises

Cloud Services Brokerage End-use Outlook (Revenue, USD Million, 2018 - 2030)

• IT and Telecom

• BFSI

• Government and Public Sector

• Healthcare

• Consumer Goods and Retail

• Manufacturing

• Energy and Utilities

• Others

Cloud Services Brokerage Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • Japan

  • India

  • China

  • Australia

  • South Korea

• Latin America

  • Brazil

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

List Of Key Players in the Cloud Services Brokerage Market

• Accenture

• ActivePlatform

• Arrow Electronics, Inc.

• Atos SE

• Cognizant

• Fujitsu

• IBM

• NTT DATA Group Corporation

• Tech Mahindra Limited

• Wipro