The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Cloud Services Broker Market. The growth sectors of the Cloud Services Broker Market are identified with precision for a better growth perspective.
The global cloud services brokerage market is projected to register a CAGR of 16.4% during the forecast period from 2019 to 2024 to reach USD 14.83 billion. The geographic analysis of the market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to be the dominating region in terms of the adoption of CSB services and platform. For the purpose of analysis, the North American market has been segmented into the US, Canada, and Mexico. The growth of this market can be attributed to the high adoption of cloud technology in the BFSI, telecommunications and IT, and healthcare verticals. The US is the leading country-level market, while Mexico is projected to be the fastest-growing during the forecast period.
The European market has been divided into the UK, Germany, France, and the rest of Europe. In terms of market size, Europe is expected to be the second-largest region. are driving the market growth in Europe. The UK is the leading country-level market with Germany expected to register the highest growth during the forecast period.
Asia-Pacific is anticipated to be the fastest growing market in the global CSB market over the forecast period. The regional market has been segmented into China, Japan, India, and the rest of Asia-Pacific. The rapid economic growth in major countries such as China, Japan, India, pay-as-you-go pricing model of CSBs, rapid adoption of cloud technology and economic stability are the key factors driving the growth of CSB market in the region.
The Middle East & African region is expected to witness a steady growth during the forecast period with the growing adoption of cloud technology in the region. The enterprises from BFSI, telecommunication and IT, and healthcare and life sciences are expected to adopt CSB solutions.
In South America, the market is still in the nascent stage and is expected to grow steadily in the near future.
Market Highlights
The global CSB market has been segmented based on service, platform, organization size, deployment, vertical, and region/country.
By service, the global CSB market has been divided into security and compliance, training and consulting, support and maintenance, workload management, operations management, reporting and analytics, and catalog management. The workload management segment accounted for the largest market share in 2018.
By platform, the global CSB market has been divided into internal brokerage enablement and external brokerage enablement. The market share of external brokerage enablement is expected to be higher in the forecast period.
Based on organization size, the global CSB market has been divided into small- and medium-sized enterprise (SME) and large enterprise. The SME segment is expected to register the higher CAGR in the forecast period.
By deployment model, the global CSB market has been divided into public cloud, private cloud, and hybrid cloud.
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Cloud Services Broker MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Cloud Services Broker Market.
The growth sectors of the Cloud Services Broker Market are identified with precision for a better growth perspective.The growing number of IT companies that are adopting for cloud services brokerage is expected to cast a positive impact on the global cloud services brokerage (CSB) market, reveals Market Reseach Future (MRFR).
MRFR states that the global cloud services brokerage market is likely to expand with a CAGR of 16.4% over the assessment period (2019 to 2024) and touch a substantial valuation of USD 14.83 billion by 2024.Industry NewsAugust 2019eXp Realty, a subsidiary of eXp World Holdings, Inc. announced the launch of a new program, eXp Realty Preferred Partners.
This program provides eXp Realty agents and their clients, a marketplace for trading home-buying services.Market InsightsThe high rate of adoption of cloud services brokerage across large enterprises and SMEs is expected to surge the market.
The growing need for multi-cloud management is prompting the need for hybrid IT, hence, the adoption of CSB is surging across multiple business verticals.
However, restraints like issues related to regulatory compliance and lack of awareness about CSB can hinder the cloud services brokerage market expansion.Segmental OverviewThe cloud services brokerage market has been segmented on the basis of service, platform, organization size, deployment model, and vertical.Based on the service, the global cloud service brokerage market has been segmented into security and compliance, support and maintenance, reporting and analytics, training and consulting, workload management, operations management, and catalog management.
This market can be considered the largest financial market in the world.
To participate in trading on the Forex market, you will need a broker, a good and reliable trading platform and a computer with an active internet connection.
How to choose a Forex broker: security
The first thing you should check is the safety of your money.
If you are not satisfied with the broker's service, you should be able to close your account with that broker.
In this way, the risk becomes less and the chance of losing more money is reduced.
Enabling a successful transformative journey to the Cloud, Sonata Software offers cutting-edge software product engineering services.
These services help enterprises by enhancing engineering delivery efficiencies and achieving faster time-to-market.
