The cloud services brokerage or CSB is a popular business model adding value to various public and private cloud services through aggregation, customization and integration of these services. These are third party services belonging to the enablement market, which are gaining popularity with innovative use and exclusive benefits. Exponential growth in the traditional market and rise in the number and size of organizations are some major reasons for the complications in end-user segments. However, brokerage services easily help these businesses integrate their service offering in no time, providing the much needed flexibility. Global cloud brokerage market is driven by increasing adoption and freshness of the industry.
Elements of the Cloud Brokerage Industry
The market for cloud brokerage services is really in a very nascent stage. Great fragmentation in the market is also helping the businesses to catch with the growing trends and advancements in the industry. The market is categorized on the basis of the types of enablement and brokerage. Demand from different geographic regions and countries also plays vital role in the determination of overall trends, demand patterns and future growth prospects for the market. The industry elements are sub-segmented into the following:
- Enablement: Internal and external cloud brokerage. External cloud brokerage services are categorized into system integrators, telecom service providers, hosting and cloud services, and others. Based on geographic regions, this segment is further divided into North America, Latin America, Asia Pacific and Japan and Europe, Middle East and Africa.
- Brokerage: Based on the service consumers the market is segmented into small and medium businesses and large enterprises. Based on geographic regions on the other hand, it is segmented into Latin America, North America, Asia Pacific, Japan, Middle East, Europe and Africa.
Growth Prospects in the CSB Market
According to the latest market research reports, cloud brokerage enablement market is expected to grow at a projected CAGR of over 55% from 2013 to 2018. During the forecasting period the market will grow from $225.42 million in 2013 to become worth more than $2.03 billion by the end of 2018. The global cloud brokerage market on the other hand is estimated to reach a whopping CAGR of over 46% from 2013 to 2018. At the projected CAGR it will grow from $1.57 billion in 2013 to $10.5 billion by 2018. Increasing customization, aggregation of data, and integration of services are the key features of the cloud brokerage services.
Rapid adoption across different end-user verticals and technological advancements are expected to be the key factors driving the global market at such impressive growth rate.