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Cloud Infrastructure Services: Amazon Leads, Google and Microsoft Follow

This, according to Synergy Research Group, was despite the challenges in the currency markets and the strengthened US dollar having a 29% growth from last year

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Cloud Infrastructure Services: Amazon Leads, Google and Microsoft Follow
Cloud Infrastructure Services

In the second quarter of 2022, Amazon’s global market share in cloud infrastructure services reached 34%, sitting as the highest among companies in the sector.

This, according to Synergy Research Group, including the enterprise spending on cloud infrastructure services which was $55 billion in the same quarter, was despite the challenges in the currency markets and the strengthened US dollar having a 29% growth from last year.

Cloud Infrastructure Services: Amazon Leads, Google and Microsoft Follow
Source: Synergy Research Group

Amazon, Microsoft and Google had a combined worldwide market share of 65%; this was 4% higher than last year’s second quarter.

According to the report, all other cloud providers had aggregate revenue growth of over 150% since 2018, but their collective market share increased from 49% to 35%, far less than that of Amazon, Microsoft and Google combined.

In Statista’s research, it was found that the global cloud infrastructure industry had a market worth of $200 billion by the end of Q1 ‘22. Amazon, as well as Microsoft, accounted for over half of the revenues, “with the eight largest providers controlling more than 80% of the market”.

Cloud Infrastructure Services: Amazon Leads, Google and Microsoft Follow
Source: Statista

John Dinsdale, Chief Analyst at Synergy Research Group said:  “As the cloud market continues to surge, the biggest story in Q2 was all about macroeconomics rather than actual cloud usage. When country market numbers are aggregated in US dollars, the yearly growth rate dropped by over six percentage points due to foreign exchange movements, with over half of that reduction being accounted for in Q2 alone.”

As evidenced by this week’s earnings calls, global cloud providers are certainly not immune from the impact of ongoing shifts in exchange rates. However, the fact remains that the underlying growth in cloud usage continues to grow at truly impressive rates. This has caused a clear acceleration in both the launch of new hyperscale data centres and the level of spending on data centre hardware and software. Our forecasts show continued strong growth in all key cloud market metrics.”

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​Joan Aimuengheuwa is a content writer who takes keen interest in the scopes of innovation among African startups. She thrives at meeting targets and expectations. Contact: [email protected]

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