The global cloud services brokerage market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 16.8% during the forecast period, to reach USD 12.9 billion by 2025 from USD 5.9 billion in 2020. Increased adoption of cloud, reduced time and costs, and enhanced need of business agility are expected to spur the demand for CSB offerings across the globe.
The sudden shutdown of offices, schools, colleges, and physical retail stores has massively disrupted operations; this has led to an increase in the demand for digital workplace tools and services, such as Zoom, Slack, Blackboard, Lynda, Canvas, Google Classroom, AnyMeeting, and Moodle. AWS, Microsoft, and Google host and manage all applications in a public cloud environment. Increased spend on cloud services by select industries due to COVID-19. Industries such as IT and ITeS, telecom, online retail/commerce, media, and BFSI, are expected to increase spending on cloud-based services to sustain their business. Highly regulated and cash-rich industries, such as BFSI, are also expected to move selective workloads to public cloud environments.
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The market is expected to be driven by the need of cloud migration and customization
Cloud migration services have gained popularity as enterprises across the globe continue to migrate workloads from on-premises infrastructure to cloud environments for better operational efficiency and cost savings. The demand for cloud services has surged in recent times due to COVID-19, and many enterprises across the regions have shifted enterprise workloads on cloud environment. Therefore, CSB vendors specializing in migration and customization services are in high demand. Cloud brokers offer customization services to the customers as per business needs, which provides better-bundled offerings facilitating higher returns on cloud investments.
The CSB market includes major vendors, such as Accenture (Ireland), IBM (US), VMware (US), Jamcracker (US), ActivePlatform (Belarus), Arrow Electronics (US), Cloudmore (Sweden), Wipro (India), DXC Technology (US), iPortalis (UK), Cognizant (US), InContinuum (Netherlands), Flexera (US), BitTitan (US), OpenText (Canada), CloudFX (Singapore), Proximitum (UK), Eshgro (Netherlands), NEC (Japan), AWS (US), CloudSME (Germany), Shivaami (India), NTT Data (US), Infosys (India), TCS (India), Pax8 (US), Oracle (US), Fujitsu (Japan), Microsoft (US), Capgemini (France), and Doublehorn (US) The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as Accenture, IBM, VMware, Jamcracker, and ActivePlatform have majorly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the CSB market.
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Jamcracker is one of the leading players in the CSB market. The company has created its own place in the CSB market through its unique market-specific offerings. The company offers a complete tailored solution for different requirements. Its CSB solutions and integration services are popular among large enterprises as well as SMEs due to their robust capabilities, ranging from delegated administration to channel enablement. The company offers solutions for different use cases, including hybrid cloud management, cloud governance, cloud billing, and cloud cost analytics. Jamcracker focuses on organic growth strategies to enhance its offerings in the CSB market. As a part of organic growth strategies, the company has expanded its service available on Microsoft Azure Marketplace. Moreover, the company keeps upgrading its CMP with enhanced capabilities. Moreover, it has a robust ecosystem of technology partners, including AWS, Microsoft Azure, Google Cloud, and Cisco.
IBM is an eminent player in the CSB market, as it provides strong cloud-based offerings. The company is currently focusing on catering to its customers with highly competent technology-enabled products and services in cloud, analytics, mobile, social, and security to sustain competition. With the growing demand for cloud-based solutions and services for disaster recovery, the adoption of cloud-based resiliency is gaining traction and benefitting strong players such as IBM. The organization aims at delivering innovative solutions and improved business continuity while planned and unplanned IT outages, thereby satisfying its customers. The key factors responsible for major shares in the market are wide geographic reach, strong distribution channels, and enhanced CSB offerings. The company focuses on strengthening its organic growth strategies, such as constant product enhancements and new product launches. These growth strategies have helped IBM hold its position in the CSB market, while they have also helped the company contentiously offer improved CSB solutions.
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