Global cloud infrastructure service providers, Google, Amazon, and Microsoft have helped the global cloud infrastructure market to record an impressive growth of 46 per cent year in year in the last quarter of 2017.
This growth represents $16 billion, Business Insider reports.
Quoting Canalys, Business Insider noted, this is significant considering the market is estimated to grow at a compound annual growth rate of 12.9 percent between 2016 and 2022, to reach $210 billion.
Here’s an overview of how the top three tech giants’ cloud businesses performed in Q4, as each vies for a larger share of the cloud market:
- Amazon Web Services (AWS) continued to lead the market, grabbing 32% of the global cloud infrastructure services market. However, the company’s share fell by 2 percentage points in Q4 from Q2 2017.
- Microsoft’s cloud business is closing the gap with AWS. Microsoft Azure’s share jumped to 14% from 11% in Q2 2017.
- Alphabet’s cloud business trails behind Amazon’s and Microsoft’s, but is slowly inching up. Alphabet’s Google Cloud Platform (GCP) accounted for 8% of the global cloud market in Q4, up from 5% in Q2 2017.