A new report from Synergy Research Group shows Q3 enterprise spending on cloud infrastructure services reached $45 billion, an increase of 37% over Q3 2020.
Amazon, Microsoft, and Google continue to rake in more than half of worldwide cloud spending, holding market shares of 33%, 20%, and 10%, respectively. Growing at a faster rate than the overall market, the trio’s share of worldwide revenues is steadily increasing.
RELATED RESOURCE
Reinvention starts with cloud migration of your data infrastructure
Explore why the most efficient way forward is data-driven
Even so, other cloud providers have reported strong growth in their cloud revenues. Among the next ten largest cloud providers, sales grew 28 percent year over year, while small to medium-sized providers grew 25 percent.
According to Synergy, quarterly revenues from cloud infrastructure services, including IaaS, PaaS, and hosted private cloud services, totaled $45.4 billion with trailing twelve-month revenues at $164 billion.
Public IaaS and PaaS services grew by 39 percent and accounted for the majority of market growth in Q3. Major cloud providers dominate the public cloud market, with the top three controlling 70% of the market.
"Given their scale, ever-expanding worldwide presence, and impressive revenue growth rates, it is understandable that Amazon, Microsoft and Google grab the most attention for their cloud activities. However, that makes it easy to overlook the fact that other cloud providers generated $17 billion in the quarter, a figure which grew by 27% from last year," said John Dinsdale, chief analyst at Synergy Research Group.
Dinsdale further explained that the $17 billion market is attractive to many service providers and their suppliers due to its rapid growth.
“Clearly there are challenges with the big three companies lurking in the background, so the name of the game is not competing with them head on. Providing companies are smart about targeting the right applications and customer groups, cloud can provide a broad and exciting range of growth opportunities for them," added Dinsdale.
-
Bigger salaries, more burnout: Is the CISO role in crisis?In-depth CISOs are more stressed than ever before – but why is this and what can be done?
-
Cheap cyber crime kits can be bought on the dark web for less than $25News Research from NordVPN shows phishing kits are now widely available on the dark web and via messaging apps like Telegram, and are often selling for less than $25.
-
‘If you want to look like a flesh-bound chatbot, then by all means use an AI teleprompter’: Amazon banned candidates from using AI tools during interviews – here’s why you should never use them to secure a jobNews Amazon has banned the use of AI tools during the interview process – and it’s not the only major firm cracking down on the trend.
-
Amazon's RTO mandate could spark a talent exodusNews A survey of Amazon staff suggests plenty remain unhappy about returning to the office next year
-
Amazon's RTO mandate just hit a major roadblock – it doesn’t have enough office spaceNews The company has told staff in several locations that it won't have room for them all in time
-
“There are other companies around”: AWS CEO Matt Garman says employees pushing back on RTO mandates should quitNews AWS CEO Matt Garman says employees pushing back on RTO mandates should quit
-
Business execs just said the quiet part out loud on RTO mandates — A quarter admit forcing staff back into the office was meant to make them quitNews Companies know staff don't want to go back to the office, and that may be part of their plan with RTO mandates
-
Microsoft tells staff it won’t follow Amazon or Dell on enforcing a return to the office – but there’s a catchNews While other big tech companies are forcing reluctant workforces back into the office, Microsoft isn’t following suit
-
Amazon workers aren’t happy with the company’s controversial RTO scheme – and they’re making their voices heardNews An internal staff survey at Amazon shows many workers are unhappy about the prospect of a full return to the office
-
Amazon set a goal to reach 100% renewable energy by 2030 – it reached it seven years earlyNews The tech giant has rapidly accelerated renewable energy investment in recent years
