Public Cloud Services Revenues Surpass $500 Billion In 2022: IDC
HPCWire, Wednesday, July 12,2023
Worldwide revenue for the public cloud services market totaled $545.8 billion in 2022, an increase of 22.9% over 2021, according to new data from the IDC Worldwide Semiannual Public Cloud Services Tracker.
SaaS applications were the largest source of public cloud services revenue, accounting for over 45% of the total in 2022. Infrastructure as a service was the second largest revenue category at 21.2% of the total revenue, with Platform as a service and SaaS System Infrastructure software at 17.0% and 16.7% respectively.
IDC data also showed that the top five public cloud providers - Microsoft, Amazon Web Services, Salesforce Inc., Google, and Oracle - accounted for more than 41% of the worldwide total revenue for a 27.3% year-over-year growth. Microsoft had the largest market share of the public cloud services market with 16.8%, followed by Amazon Web Services with 13.5%.