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Stocklytics.com reports that Amazon Web Services (AWS) has 31% of the global cloud market share, surpassing Microsoft Azure.
RELATED: Cloud services made 55% of Microsoft’s revenue in 2023, 15% more than 4 years ago
Edith Reads, the financial analyst at Stocklytics, commented on the findings:
“The cloud market is proving competitive with players keen to tap into the new users. AWS is outstanding due to its robust technology, competitive pricing, and early entry into the market. However, other players like Azure and Google Cloud are catching up.”
The emergence of Alibaba Cloud, among others, indicates the cloud market’s growth. Despite receiving little attention, these sites have made significant strides, asserting their authority in various spheres. Alibaba has dominated the Asia-Pacific market for years as an IaaS provider and comfortably sits at the third position globally with 7.7%
Similarly, another small player, Tencent, controls 25% of China’s Cloud Market and shows no signs of slowing down. The firm is developing an advanced infrastructure that would compete with other players on the global stage.
The full story and statistics can be found here: AWS Beats Azure To Top Global Cloud Computing Market Chart With a 31% Share
