July 16, 2019 - Cloud Service Brokerage (CSB) can be defined as the transitional parties between Cloud Service Providers (CSP) and consumers that assist to modify and improve business information in multi-cloud platforms. CSB providers assist consumers in orchestration, integration, and implementation of applications across multi-cloud platforms. Moreover, they help them in making a selection of the services and offerings that fulfill their business requirements.
Service Type Segment to Contribute Substantial Demand to the Market
Based on service type, the market has been segregated into governance and control, vendor management, and integration, sourcing, and procurement. Cloud integration, sourcing, and procurement sector accounted for the largest share in the market and will continue its dominance over the forthcoming period.
The development is attributed to increasing demand for integration facilities across big enterprises to incorporate their businesses with third-party vendors, technology partners, and clients. This will offer ease and agility of convenience to the business.
Moreover, to manage billings, orders, and other necessities from several vendors, companies are progressively accepting cloud-based vendor management solutions that can support them to manage all sellers simultaneously. Vendor management solutions are expected to create substantial opportunities for the market growth owing to its increasing demand throughout the forthcoming period.
Market Insights
Key market players emphasize on increasing their service offerings to cater to the customer needs and to offer a high level of data security. For instance, in June 2018, Atos SE presented a new set of CSB solutions to offer enhanced data security across hybrid cloud environments. Additionally, major companies emphasize on establishing partnerships which will help to surge their market presence and service offerings.
Leading players operating in the cloud service brokerage (CSB) market include IBM Corp.; Accenture PLC; Atos SE; Jam cracker, Inc.; Capgemini SE; Cognizant Technology Solutions Corporation; Infosys Limited; DXC Technology Company; Hewlett Packard Enterprise Development LP; NTT DATA, Inc.; Fujitsu Ltd.; Wipro Limited; and Tech Mahindra Limited. Presently, the market faces a high degree of rivalry owing to the presence of numerous large players in the market.
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