The worldwide cloud market grew at a robust clip in the first quarter, and the big three vendors dominated, according to a new report released by Canalys.
Cloud Spending Maintains Red-Hot Pace
First-quarter cloud infrastructure spending climbed 34 percent year-over-year and about 12 percent from the previous quarter to $55.9 billion, Canalys said.
The top three vendors, namely Amazon, Inc.’s AWS, Microsoft Corporation’s Azure and Alphabet, Inc.’s Google Cloud, benefited from increased adoptions and scale.
These, according to Canalys, collectively grew 42 percent year-over-year and accounted for 62 percent of the global customer spend.
“Cloud has continued to be a hot market and transformation strategies are emphasizing digital resiliency to face the market challenges of today and tomorrow,” said Canalys analyst Blake Murray.
AWS remained in the pole position with a 33 percent share of the market. The year-over-year growth slowed from 40 percent in the fourth quarter to 37 percent.
Google Cloud, with its 54 percent year-over-year increase, took the honors as the fastest growing vendor, although the rate of increase slowed from the 62 percent pace seen in the fourth quarter. The vendor’s share of the market was at 8 percent in the first quarter.
Microsoft Azure was the second-largest cloud service provider in the first quarter. The cloud service had a 21 percent market share and saw 46 percent year-over-year growth.
By Shanthi Rexaline
© 2022 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.