Cloud Market Continues to Grow With Amazon Leading the Pack
The cloud infrastructure market has been steadily on the rise in recent years. Amazon Web Services leads the nearly $130 billion cloud market in 2020.
By Lauren Borchart02/19/2021
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.
Lauren Borchart is an intern with MSPC.