Cloud Market Continues to Grow With Amazon Leading the Pack
Recent reports from the Synergy Research Group show that Amazon Web Services (AWS) is the leader in the cloud infrastructure market. AWS is Amazon’s cloud platform, and its market share made up 32% of the $37 billion cloud market in the fourth quarter of 2020. This is about $4 billion higher than the third quarter of 2020, and a 35% increase from the fourth quarter of 2019.
This share exceeds the combined share of AWS’s main competitors, Microsoft and Google, combined. Microsoft Azure ended the fourth quarter with 20% of the market, and Google Cloud finished with 9%. Other contributors were Alibaba Cloud, IBM Cloud, Salesforce, Tencent Cloud and Oracle Cloud.
With the fourth quarter of 2020 global cloud infrastructure service revenues coming in at $37 billion, the total for the past 12 months ended up at $129 billion. The growth for the cloud market has been significant for a market of its size, and it has doubled its size in just nine quarters.
“2020 ended with a bang for the cloud market, as the sequential jump of $4 billion from Q3 easily set a new record for cloud providers’ incremental revenue growth,” said John Dinsdale, chief analyst at Synergy Research Group. “This is also a market which has proven to be immune to COVID-19. If anything, the pandemic has helped to highlight some of the main benefits of public cloud.”
The market for cloud services has been growing rapidly in recent years and is expected to continue to rise. The cloud application services, or SaaS, market is expected to experience a compound growth rate of 12% by 2022. This cloud service segment is expected to reach a revenue of $151 billion by 2022.
Learn More
- Amazon Web Services: Statistics and Facts
- Amazon Leads $130-Billion Cloud Market
- Cloud Market Ends 2020 on a High while Microsoft Continues to Gain Ground on Amazon