7 Cloud Market Trends And How They Will Impact IT
CIO, Tuesday, October 17,2023
With the cloud now a key staple of IT strategies, IT leaders would be wise to keep apprised of offerings and pricing tactics evolving within the cloud market. Here's the latest CIOs should know.
The cloud market has been a picture of maturity of late.
The pecking order for cloud infrastructure has been relatively stable, with AWS at around 33% market share, Microsoft Azure second at 22%, and Google Cloud a distant third at 11%. (IBM, Oracle, and Salesforce are in the 2-3% range.)
Revenue growth remains solid across the industry, but slowing somewhat, with none of the Big 3 outperforming the others enough to materially alter the balance of power. That overall market stability has extended to prices, which, with some exceptions, have remained relatively flat. And at this point, the market has evolved to the point where the major players all have similar offerings.