Cloud Services Brokerage Market: Key Players, Size, Trends, Opportunities and growth Analysis 2018 - 2026

Cloud Services Brokerage Market - Overview

In general, a broker is a person who acts as a middle man between two or more parties during negotiations. A cloud broker means a third-party individual or entity that acts as an intermediary between a cloud computing service buyer and the sellers of the same.

CSB, i.e. cloud services brokerage, an IT-based business model wherein a firm or an entity enhances value for one or more cloud services (private or public) on behalf of one or more customers of that service. A cloud services brokerage enabler offers (i) tools and knowhow to device cloud services brokerage, and (ii) combined technology, people, and methodologies to implement and manage cloud services brokerage related projects.

Approximately, more than 30% of businesses (till 2014) had adopted a cloud service brokerage to better support cloud technology. Three key areas that can be addressed by a cloud service brokerage in cloud adoption are aggregation, integration, and customization brokerage. Aggregation – through a company approved cloud application, end-users get access to the cloud enterprise software; integration – ensuring data exchange of cloud applications among each other and with on-premise applications to align business processes; customization – augmentation of cloud services with variable data plans or improved security and compliance.

Cloud Services Brokerage Market – Drivers and Restraints

Increasing adoption cloud-based solutions by businesses is a major driver of the cloud services brokerage market. However, a key restraint for cloud services brokerage market is the relative immaturity of cloud enterprise software as compared to on-premise enterprise software. By modifying cloud enterprise software with customized capabilities other than cloud services, companies could avail the benefits of cloud technology, while meeting other business objectives, including data security and compliance. Especially, organizations are looking forward to cloud augmentation and attain reduced risk with robust security and compliance abilities, to add value and transparency with the help of analytics, they are also looking for the centralization of audit trajectories and policy implementation functionality, including streamlining of selection process of cloud services.

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Cloud Services Brokerage Market – Segmentation

The cloud services brokerage market covers different services, such as, operations management, workload management, catalog management, integration, security and compliance, reporting and analytics, training and consulting, and maintenance and support. The cloud services brokerage market can be segmented on the basis of cloud-based deployment, i.e. public, private, and hybrid cloud.

Almost every industry is expected to use cloud services brokerage due to global technological modification, such as retail, Banking, Financial Services And Insurance (BFSI), communications, media & entertainment, manufacturing, transportation & logistics, pharmaceuticals, life sciences, government, healthcare, retail, utilities, and others (academic institutions, such as, nonprofit research groups, and universities).

Legal aspects of cloud brokering cover many areas. Major difficulties connected with this are data location, cross-border transmission, portability, accessibility, and accountability. Therefore, CSB must have technology and associations readily available, capable to ensure that all customer requirements are fulfilled and legal obligations are observed at the same time.