Amazon Leads $200-Billion Cloud Market
Having established itself as an early leader in the market for cloud infrastructure, Amazon Web Services (AWS), the online retailer’s profitable cloud platform, is still ahead of the pack. According to estimates from Synergy Research Group, Amazon’s market share in the worldwide cloud infrastructure market amounted to 34 percent in the second quarter of 2022, still exceeding the combined market share of its two largest competitors, Microsoft Azure and Google Cloud.
In 2Q022, global cloud infrastructure service spending climbed to $55 billion, bringing the industry total for the trailing twelve months to more than $200 billion. As the following chart shows, Amazon and Microsoft accounted for more than half of cloud infrastructure revenues in the three months ended June 30, with the eight largest providers controlling more than 80 percent of the market.
"Global cloud providers are certainly not immune from the impact of ongoing shifts in exchange rates," John Dinsdale, Chief Analyst at Synergy Research Group said about adverse exchange rate effects on the industry's overall growth. "However, the fact remains that the underlying growth in cloud usage continues to grow at truly impressive rates," he continues, explaining why his company's forecasts continue to show "strong growth in all key cloud market metrics."