Gartner: Worldwide Cloud Infrastructure Spending Topped $100B for The First Time in 2022
SiliconANGLE , Tuesday, July 18,2023
Worldwide spending on cloud infrastructure-as-a-service resources passed the $100 billion mark in 2022 after growing 29.7% year-over-year, according to new Gartner Inc. data released today
The research firm estimates that organizations rented $120.3 billion worth of cloud infrastructure in 2022, up from $92.8 billion the previous year. More than fourth-fifths of that spending went to the top five cloud providers. Those providers are Amazon Web Services Inc., Microsoft Corp., Alibaba Group Holding Ltd., Google LLC and Huawei Technologies Co. Ltd.
'IaaS growth in 2022 was stronger than expected, despite a slight softening in the fourth quarter as customers focused on using their previously committed capacity to its fullest potential,' said Gartner Vice President Sid Nag. 'This is expected to continue until mid-2023 and is a natural outcome of the market's maturity. We expect an acceleration in 2024, as there is still room for plenty of additional future growth.'