The global Cloud Services Brokerage (CSB) market is expected to grow at a Compound Annual Growth Rate (CAGR) of 17.3% during the forecast period (2018–2023) to reach a market size of USD 15.03 billion by 2023. CSBs help an enterprise achieve cost savings by procuring budget-friendly cloud service packages through combining services of various CSPs. Moreover, brokers provide tools and software to enterprises, which empower companies to track cloud expenditures. These benefits offered by CSBs are expected to spur the demand for these services.
Market Dynamics –
The workload management segment is expected to grow at the highest rate during 2018-23
A cloud service broker enables organizations to assess which on-premises workloads are cloud ready and also assists the organizations in moving cloud workloads among different CSPs based on price and other associated factors. The migration of workloads seems challenging for organizations, and the brokers help in eliminating the challenge by providing workload management services.
The external brokerage enablement segment is expected to grow at a higher rate during the forecast period.
The segment provides a multi-tenant cloud delivery and management platform to telecom service providers, distributors and Value-Added Resellers, and cloud providers that help in offering various services, enablement of channels, and management of administration activities. The enablement platform also collaborates various cloud service offerings on a common platform. The external brokerage enablement segment is expected to grow in the coming years, due to the number of business benefits and opportunities that it offers to various technology and service providers.
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The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR by 2018
SMEs are facing greater resource crunch than larger enterprises and require better methods to solve the complexities of cost optimization of their business processes. Cloud services have become a central part of the business processes in SMEs, due to cost efficiency, ease of use, and the flexibility offered. The CSBs enable SMEs to have a strict control on their cloud needs and service provisioning. This, in turn, is expected to fuel the demand for CSB in the next few years.
