Subj : The global cloud market is booming, and these two giants are domi
To   : All
From : TechnologyDaily
Date : Wed Jul 19 2023 17:00:03

The global cloud market is booming, and these two giants are dominating it

Date:
Wed, 19 Jul 2023 15:40:32 +0000

Description:
Global IaaS market is now worth $120 billion, but around $74 billion of that 
is attributable to just two key players.

FULL STORY
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According to new figures from Gartner, the infrastructure-as-a-service sector 
of the global cloud market, which is now valued at more than $120 billion, 
grew by 30% last year. 

The sector reportedly grew from an already healthy $92.8 billion in 2021 to 
$120.3 billion in 2022, representing a 29.7% increase despite the slowdown in 
growth that many companies experienced toward the end of 2022 due to tough 
economic headwinds. 

Of the $120 billion, an estimated $74 billion is attributable to just two 
dominating companies: Amazon Web Services (AWS) and Microsoft Azure. AWS and 
Azure account for huge cloud spends 

Together, Amazon and Microsofts offerings totalled nearly two-thirds (61%) of 
the market, accruing $48 billion and $26 billion respectively. Read more 

 > These are the best cloud hosting providers around 


 > Global cloud growth is slowing at last 


 > Cloud giants could face a major crackdown in the UK over competition fears 

Alibaba Cloud tipped the scales at $9.28 billion, helping it to secure third 
place, just a few million ahead of Google Cloud in fourth at $9 billion. 
Huawei rounded up the top five at $5.25 billion. Collectively, the top five 
left less than 19% for all other IaaS providers to battle it out for their 
share of the revenue. 

More specifically, Gartner VP analyst Sid Nag indicated at heightened 
geopolitical tensions in relation to China, which have limited Alibaba Clouds 
opportunity for any significant global growth. 

On the other side of the spectrum, Amazon and Microsoft typically account for 
large sections of the market under whichever microscope is used, which has 
led many analysts and organizations to criticize their unfair dominance. 

Looking ahead, its unclear what sort of effect the economy will have on the 
cloud market, but while many companies are looking to restrict spend, cloud 
remains an important expense for many organizations. Nag suggested that some 
troubles may continue into mid-2023, with acceleration forecasted for 2024. 
Looking for your piece of the cloud? Check out the best cloud storage and 
best cloud backup tools 

Via The Register



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Link to news story:
https://www.techradar.com/pro/the-global-cloud-market-is-booming-and-these-two
-giants-are-dominating-it


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