Report: Quarterly Cloud Service Revenues Top $6B As Growth Rate Increases
For the second consecutive quarter the annualized growth rate has increased and is once again above the 50% mark.
New Q3 data from Synergy Research Group shows that quarterly revenues from cloud infrastructure services have now passed the $6 billion milestone, with revenues for the last four quarters coming in at well over $21 billion. For the second consecutive quarter the annualized growth rate has increased and is once again above the 50% mark, rewarding the market’s four leading service providers.
As the market continues to boom it remains dominated by Amazon Web Services (AWS), Microsoft, IBM and Google, who in aggregate account for well over half of worldwide cloud infrastructure service revenues. AWS is still in a league of its own with a market share in excess of 30%, but Microsoft and Google can at least boast revenue growth rates in excess of 100%. All four are growing more rapidly than the market as a whole.