Global Cloud Services Brokerage Market is expected to grow by USD 37 billion during 2021-2028, accelerating at a CAGR of 18.05% during the forecast period

Cloud services brokerage market will reach at an estimated value of USD 37 billion and grow at a CAGR of 18.05% in the forecast period of 2021 to 2028. Increased need to avoid vendor lock-in is an essential factor driving the cloud services brokerage market.

Cloud services brokerage is a service provided by third party to the cloud services available to the consumers on their behalf. They act as a broker between the cloud providers and the consumers to the cloud through the help of three major functions namely, aggregation, integration & customization brokerage. These brokerage services are an add-on to the existing services given along with the cloud and are not similar to them.

Growing adoption of hybrid cloud and multi-cloud strategies across enterprises of different industry verticals is a crucial factor accelerating the market growth, also increase in the adoption of hybrid IT and multi-cloud management, rising security capabilities and customized costing in private cloud-based services, increasing adoption of digital business strategies and growing adoption of cloud-based solutions by businesses, are the major factors among others boosting the cloud services brokerage market. Moreover, rising modernization in the services, growing demand among SMEs, rising proactive investments by enterprises in cloud-based models and rising research and development activities in the market will further create new opportunities for cloud services brokerage market in the forecast period mentioned above. 

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