Market Overview:
The cloud services brokerage market size has been witnessing significant growth over the past decade. Organizations of all sizes and across various industries have been increasingly adopting cloud computing solutions to improve operational efficiency, scalability, and cost-effectiveness. As a result, the demand for cloud services brokers has risen to address the challenges associated with cloud adoption, such as vendor selection, integration complexities, security concerns, and service management. The cloud services brokerage (CSB) market is expected to register a CAGR of 15.30% during the forecast period to reach USD 19.6 billion by 2032.
The cloud services brokerage (CSB) market refers to the industry that provides intermediation services to organizations in their adoption and management of cloud-based solutions. A cloud services broker acts as a facilitator between cloud service providers and businesses, helping them select, integrate, customize, and manage various cloud services to meet their specific needs.
Key Players and Competitive Landscape:
- Vaultive Inc. (U.S.)
- Thales e-Security (France)
- Trend Micro Incorporated (Japan)
- Gemalto N.V. (Netherlands)
- HyTrust Inc. (U.S.)
- Sophos Group Plc (U.K.)
- CipherCloud (U.S.)
- Symantec Corporation (U.S.)
- Netskope Inc. (U.S.)
- Skyhigh Networks (U.S.)
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Key Factors Driving the Market:
Cloud Adoption: The widespread adoption of cloud services across industries is a primary driver of the CSB market. Organizations are leveraging cloud infrastructure, platforms, and software as a service (IaaS, PaaS, and SaaS) to streamline their IT operations and achieve digital transformation.
Multi-Cloud and Hybrid Cloud Environments: Many businesses are adopting multi-cloud and hybrid cloud strategies to combine the benefits of various cloud platforms and on-premises infrastructure. CSBs play a crucial role in managing these complex environments, providing seamless integration, data migration, and interoperability between different cloud providers.
Service Customization and Aggregation: CSBs enable businesses to customize and aggregate cloud services from multiple providers to create tailored solutions that meet their specific requirements. This flexibility allows organizations to optimize their cloud resources and choose the best services for each workload.
Security and Compliance: As cloud computing introduces new security challenges, CSBs assist organizations in implementing robust security measures and ensuring compliance with industry regulations. They offer security assessment, data protection, identity and access management, and other security-related services to safeguard critical business data.
Cost Optimization: CSBs help organizations optimize their cloud spending by offering cost management and optimization solutions. They assist in monitoring and controlling cloud resource usage, rightsizing infrastructure, and identifying opportunities for cost savings.
Future Outlook:
The future of the cloud services brokerage market looks promising as organizations continue to adopt cloud computing and seek assistance in managing complex cloud environments. As technology advancements like edge computing, serverless architectures, and artificial intelligence (AI) gain momentum, CSBs are likely to play a crucial role in helping businesses leverage these technologies effectively. The market is expected to witness further consolidation, innovation, and the emergence of new players offering specialized services to meet evolving customer needs.
It’s worth noting that the information provided here is based on the market trends up until my last knowledge update in September 2021. The actual market dynamics and key players may have evolved since then.
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