According to a new market research report “Cloud Services Brokerage and Enablement Market by Component (Cloud Services Brokerage and Cloud Brokerage Enablement), by Organization Size, by Industry Vertical & by Region – Global Forecast to 2021“, published by MarketsandMarkets, The market size is estimated to grow from USD 7.44 Billion in 2016 to USD 26.71 Billion by 2021, at expected Compound Annual Growth Rate (CAGR) of 29.1% from 2016 to 2021.
The Telecom Service Providers segment has captured the highest market share during the forecast period
The telecom service providers segment is projected to capture the highest market share during the forecast period as they play a major role in managing cloud connectivity, offering capabilities based on cloud, and providing network assets in cloud service brokering and enablement market. However, hosting and cloud providers segment is expected to grow at the highest CAGR during the forecast period of 2016-2021. Cloud hosting providers have detailed knowledge about the technologies used in companies and accordingly place the customers on their platforms and applications, which has led to its rising demand in the market.
Telecom and IT sector is expected to grow with the highest CAGR during the forecast period
With the increasing changes in customer requirement, telecom and IT firms are adopting newer cost efficient solutions that could help them retain their customers, thereby is projected to grow at the highest rate. Moreover, manufacturing and engineering sector is expected to have the largest market size in 2016 as the sector is inclined toward the establishment of IT infrastructure and cloud-based solutions in order to improve sales, and streamline the manufacturing and supply chain management process.
North America is expected to hold the largest market share in the cloud services brokerage and enablement market
North America is expected to hold the largest market share and dominate the Cloud Services Brokerage and Enablement Market from 2016 to 2021, because of the presence of a large customer pool headquartered in the U.S. The region also has high concentration of managed service providers in the U.S. and Canada. On the other hand, Asia-Pacific (APAC) offers potential growth opportunities as the region is witnessing rise in technology penetration and larger investments in cloud services due to the growth in various industrial sectors.
The major service providers in the Cloud Services Brokerage and Enablement Market include Accenture PLC., Capgemini S.A, NEC Corporation, ComputeNext, Jamcracker, Inc., Arrow Electronics, Inc., HP Enterprise, Gravitant, Liaison Technologies, and Nephos Technologies.