Battle For The Cloud Market
CXOtoday.com, Monday, May 1,2023
While Amazon has kept a healthy lead for now, both Microsoft and Google are inching closer to the market leader in this cloud services battle)
Any business where the top three control more than three-fifths of the market, has to be termed a monopoly of sorts. However, when it comes to cloud services, the battle for supremacy is raging amongst the top-three Amazon, Microsoft and Google and in this process is actually keeping them miles ahead of the rest of the field.
New research suggests that cloud infrastructure services spending grew 20% year-over-year during the first quarter of 2023 to generate $63 billion in revenue, according to data provided by the Synergy Research Group (SRG). This growth was fuelled by the foundational benefits of cloud adoption, says SRG chief analyst John Dinsdale.