The global cloud services brokerage market is expected to post a CAGR of close to 17% during the period 2018-2022, according to the latest market research report by Technavio.
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Technavio predicts the global cloud services brokerage market to grow at a CAGR of close to 17% by 2022. (Graphic: Business Wire)
A key factor driving the growth of the market is access to expertise. Cloud, as a concept and technology, is relatively new in the IT industry, and all enterprises are not aware of the benefits of the technology. However, in the recent past, several enterprises across the world had adopted cloud and hybrid deployment models. However, without the required expertise in cloud management, many enterprises are not being able to realize the full benefits of cloud services. Cloud services brokers, being erudite in their field, reduce the barriers associated with the adoption of cloud services by enabling enterprises to effectively and efficiently understand and manage the cloud. The transformation from the traditional method of data storage to the cloud involves several processes and technical interfaces. The brokers manage and customize services in the cloud due to their knowledge and skill, which are required to understand advances in technology. Sometimes, they also evaluate services from different CSP and enable enterprises to understand the use of cloud services to encourage digital innovation. Thus, with such services, the market is expected to register a positive outlook during the forecast period.
This market research report on the global cloud services brokerage market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing use of advanced technology as one of the key emerging trends in the global cloud services brokerage market:
Global cloud services brokerage market: Increasing use of advanced technology
Several enterprises across the world are adopting advanced technologies such as Blockchain, IoT, Al, VR, and augmented reality (AR) to become customer friendly. These applications run on a cloud-based infrastructure. Hence, the volume of data which are stored in the cloud is increasing. Therefore, they require the services offered by cloud services brokers. Cloud services brokers are also adopting advanced technologies such as Al, predictive analytics, and chatbots to simplify their operations. Predictive analytics can help brokers understand the exact needs of enterprises to customize services. They also use Blockchain to link, secure and make data free from intrusions. Thus, such advanced technology is expected to contribute largely to the growth of the cloud services brokerage market during the forecast period.
“Apart from increasing use of advanced technology, the rising adoption of cloud services, customization of cloud features, and growth of public cloud are some of the major aspects that are expected to boost the growth of the global cloud services brokerage market, during the forecast period,” says a senior analyst at Technavio for research on IT professional services.
Global cloud services brokerage market: Segmentation analysis
This market research report segments the global cloud services brokerage market by geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of over 44%, followed by EMEA and APAC respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth of over 2%.
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Market Landscape
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Market Sizing
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Five Forces Analysis
Market Segmentation
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
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- Competitive scenario
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