Cloud Services Brokerage Market Size - Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2024 – 2032

Cloud Services Brokerage Market Size - Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2024 – 2032

Cloud Services Brokerage Market Size

The Cloud Services Brokerage Market size is expected to grow significantly from 2024 to 2032, driven by heightened concerns about cloud security and regulatory compliance requirements.  For instance, data published by Pingsafe in 2023, nearly half of data breaches occur on the cloud, with human error cited as the cause in over 80% of cases. Additionally, 83% of companies reported a cloud security breach in the past 18 months. This has led to increased demand for brokerage solutions that offer robust security features and compliance management tools, thereby inducing industry growth.

Cloud Services Brokerage Market Trends

The integration of AI and ML technologies into brokerage solutions is revolutionizing the cloud services landscape. For instance, according to a Deloitte study, 70% of companies obtain their AI capabilities through cloud-based software, while 65% develop AI applications using cloud services. By leveraging AI and ML algorithms, brokerage providers can achieve intelligent automation, predictive analytics, and proactive management of cloud resources. These advanced capabilities enable organizations to optimize performance and cost-efficiency by adjusting resource allocation, predicting potential issues before they occur, and automating routine tasks. Further, there is a rise in demand for multi-cloud and hybrid cloud solutions, driving the adoption of CSB services that facilitate seamless integration and management across various cloud environments. These trends will combinedly influence the overall market outlook.

Cloud Services Brokerage Market Analysis

Banking, financial services, and insurance (BFSI) segment share is poised to grow rapidly till 2032, as companies are adopting cloud-based solutions to enhance operational efficiency, improve customer experience, and drive innovation. Cloud services brokerage solutions enable BFSI firms to effectively manage and govern their cloud environments, ensure compliance with industry regulations, and optimize costs while leveraging the benefits of cloud computing for digital transformation initiatives.

The integration & support services segment is anticipated to expand at a decent pace through 2032, as it enables seamless integration of disparate cloud services and provides ongoing support & maintenance to ensure optimal performance and reliability. As organizations rely on cloud-based applications and services for their business operations, the demand for integration & support services is expected to grow.

Asia Pacific cloud services brokerage market is expected to grow swiftly till 2032, propelled by rapidly growing economies, increasing digitalization efforts, and expanding cloud adoption. Countries such as China, India, Japan, and Australia are witnessing significant investments in cloud infrastructure and services. The presence of many small and medium-sized enterprises (SMEs) in the region creates opportunities for cloud services brokerage providers to cater to the diverse needs of these organizations, thus impelling the market growth.

Cloud Services Brokerage Market Share

Prominent participants in the cloud services brokerage industry include

• CloudFX
• DXC Technology
• Jamcracker Inc. (Actua Corporation)
• Arrow Electronics
• Wipro Limited
• DoubleHorn Communications LLC
• IBM

These firms are adopting service expansion strategies to increase their customer base and regional footprint in the global market.

Cloud Services Brokerage industry News

• In December 2022, DXC Technology unveiled DXC Assure Broking, a global digital broking platform, and announced an early adopter, Lockton. Under the deal, this independent insurance brokerage intended to use DXC’s cloud platform to support its UK retail business and boost its footprint across geographies and sectors, thus gaining an edge over rivals in the industry.

What Information does this report contain?

Historical data coverage 2018 to 2023; Growth Projections 2024 to 2032.

Expert analysis industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.

6-7 year performance forecasts major segments covering applications, top products and geographies.

Competitive landscape reporting market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.