“Global Cloud Services Brokerage Market to reach a market value of USD 32.78 Billion by 2031 growing at a CAGR of 16.7%”
The Global Cloud Services Brokerage Market size is expected to reach $32.78 billion by 2031, rising at a market growth of 16.7% CAGR during the forecast period.
The North America segment recorded 38% revenue share in the market in 2023. The region’s strong adoption of cloud computing, advanced IT infrastructure, and presence of major cloud service providers have contributed to its market dominance. Businesses in North America leverage cloud brokerage services to optimize multi-cloud environments, enhance security, and streamline IT operations.
The major strategies followed by the market participants are Partnerships as the key developmental strategy to keep pace with the changing demands of end users. For instance, In April, 2024, Cognizant Technology Solutions Corporation announced the partnership with Google, an IT Corporation and Shopify, an e-commerce company to aid global brands and retailers in digital transformation. Combining Shopify’s commerce platform, Cognizant’s client delivery, and Google Cloud’s infrastructure, the alliance aims to provide customers with shopping assistance, tailored offers, and real-time recommendations. Moreover, In July, 2024, Wipro Limited announced the partnership with MAHLE, a leading global automotive supplier, to enhance its IT infrastructure through a hybrid cloud solution. This partnership will involve migrating MAHLE’s core data centers to Wipro FullStride Cloud, helping them improve business agility, digitize their IT ecosystem, and comply with regulatory standards.
Based on the Analysis presented in the KBV Cardinal matrix; IBM Corporation, Accenture PLC and Broadcom, Inc. are the forerunners in the Cloud Services Brokerage Market. In March, 2023, IBM Corporation teamed up with Wasabi Technologies, a software company to provide enhanced, secure, and open cloud services through IBM Cloud and Wasabi’s storage solutions. This collaboration allows businesses to operate apps in various environments, including on-premises and the cloud. The Boston Red Sox will be the first to benefit from this combined technology. Companies such as Infosys Limited, Cognizant Technology Solutions Corporation, and Fujitsu Limited are some of the key innovators in Cloud Services Brokerage Market.
The increasing adoption of multi-cloud and hybrid cloud strategies is a key driver for the market. Businesses today seek to distribute their workloads across multiple cloud providers to avoid dependency on a single vendor, reduce downtime risks, and improve resilience. A multi-cloud approach allows organizations to leverage best-in-class features from different providers. At the same time, hybrid cloud strategies help balance on-premises infrastructure and cloud environments. Hence, this growing reliance on cloud brokerage solutions is expected to fuel the market’s expansion in the coming years.
Additionally, IT outsourcing and managed services have gained significant traction as enterprises aim to reduce operational costs and improve efficiency. Businesses increasingly rely on managed service providers (MSPs) for IT infrastructure, cloud applications, and cybersecurity management. Cloud services brokerage platforms enable MSPs to deliver and manage cloud solutions effectively, providing clients with a seamless, scalable, and cost-efficient cloud experience. In conclusion, enterprises' growing IT outsourcing and managed services trend propels the market's growth.
One of the primary challenges limiting the widespread adoption of cloud service brokerage (CSB) solutions is the significant upfront investment required for implementation. Enterprises must allocate substantial financial resources to deploy brokerage platforms, procure the necessary software and hardware, and integrate them with their IT infrastructure. Thus, high initial costs remain a key restraint that limits the adoption of CSB platforms, particularly among SMEs and budget-conscious enterprises.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
On the basis of service, the market is classified into integration & support, automation & orchestration, billing & provisioning, migration & customization, security & compliance, and others. The automation and orchestration segment recorded 20% revenue share in the market in 2023. This segment helps businesses automate cloud workflows, manage resources efficiently, and streamline cloud service operations. Automation and orchestration services enhance scalability, reduce manual intervention, and improve service delivery. With the growing adoption of multi-cloud strategies, enterprises increasingly leverage these services to optimize cloud performance and operational agility.
By deployment, the market is divided into public, hybrid, and private. The hybrid segment garnered 33% revenue share in the market in 2023. This segment allows businesses to integrate private and public cloud environments, ensuring seamless data flow and workload management. Hybrid cloud brokerage services help enterprises balance security, performance, and scalability by providing centralized management of diverse cloud resources.
Based on enterprise size, the market is segmented into large enterprises and small and medium-sized enterprises. The small and medium-sized enterprises segment acquired 27% revenue share in the market in 2023. SMEs increasingly adopt cloud services brokerage to simplify cloud adoption, reduce infrastructure costs, and improve operational agility. These businesses benefit from brokerage services by gaining access to tailored cloud solutions, automated service management, and cost-effective resource allocation.
Based on platform, the market is characterized into internal brokerage enablement and external brokerage enablement. The external brokerage enablement segment procured 37% revenue share in the market in 2023. This segment primarily serves as an intermediary between cloud service providers and enterprises, offering consulting, integration, and management services to facilitate cloud adoption and operations. External brokerage enablement enables businesses to access multi-cloud solutions, vendor management, and seamless service orchestration, allowing organizations to optimize their cloud strategies with expert support.
On the basis of end use, the market is segmented into IT & telecommunications, BFSI, government & public sector, healthcare, consumer goods & retail, manufacturing, energy & utilities, and others. The BFSI segment procured 17% revenue share in the market in 2023. Financial institutions and insurance companies leverage cloud brokerage services to improve operational efficiency, enhance data security, and ensure regulatory compliance. Cloud services brokerage enables BFSI organizations to manage hybrid and multi-cloud environments, automate processes, and optimize IT spending.
Free Valuable Insights: Global Cloud Services Brokerage Market size to reach USD 32.78 Billion by 2031
The Cloud Services Brokerage (CSB) market remains competitive with numerous emerging vendors and niche providers offering specialized solutions. These companies focus on customized service aggregation, multi-cloud management, and cost optimization. The market thrives on innovation, catering to SMBs and industry-specific needs. Strategic partnerships and AI-driven automation are key differentiators in this evolving landscape.
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment witnessed 29% revenue share in the market in 2023. European enterprises increasingly adopt cloud brokerage services to manage hybrid cloud environments, comply with strict data protection regulations, and enhance IT efficiency. The growing digital transformation initiatives across industries and government support for cloud adoption have driven the region's demand for cloud brokerage solutions.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 9.74 Billion |
| Market size forecast in 2031 | USD 32.78 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 16.7% from 2024 to 2031 |
| Number of Pages | 374 |
| Number of Tables | 593 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Platform, Service, Deployment, Enterprise Size, End use, Region |
| Country scope |
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| Companies Included | Accenture PLC, ActivePlatform Limited, Infosys Limited, Atos SE, Cognizant Technology Solutions Corporation, Fujitsu Limited, IBM Corporation, NTT Data Corporation, Broadcom, Inc., and Wipro Limited |
By Platform
By Service
By Deployment
By Enterprise Size
By End use
By Geography
This Market size is expected to reach $32.78 billion by 2031.
Rising Adoption Of Multi-Cloud And Hybrid Cloud Strategies By Enterprises are driving the Market in coming years, however, High Initial Investment And Implementation Costs restraints the growth of the Market.
Accenture PLC, ActivePlatform Limited, Infosys Limited, Atos SE, Cognizant Technology Solutions Corporation, Fujitsu Limited, IBM Corporation, NTT Data Corporation, Broadcom, Inc., and Wipro Limited
The expected CAGR of this Market is 16.7% from 2023 to 2031.
The Large Enterprises segment led the maximum revenue in the Market by Enterprise Size in 2023, thereby, achieving a market value of $22.8 billion by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $12.0 billion by 2031.
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![North America Cloud Services Brokerage Market Size [2031]](https://www.kbvresearch.com/upload/cover/north-america-cloud-services-brokerage-market.jpg "North America Cloud Services Brokerage Market Size [2031]")
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