AI Aids Cloud Growth; Microsoft Gains

The Q3 data from Synergy Research Group highlights robust growth in global cloud infrastructure services, reaching over $68 billion, up $10.5 billion from the previous year. The consistent $10-11 billion annual growth for five consecutive quarters marks a trend. The year-on-year growth rate stood at 18%, similar to the past quarters, despite economic constraints. Generative AI technology is easing these barriers, evident in the 5% Q3 increase from Q2, surpassing previous quarterly growth rates. Major players like Google and Microsoft displayed stronger year-on-year growth, while Amazon maintained its market share band. The top three providers—Amazon, Microsoft, and Google—collectively held 66% of the global market, notably dominating the public cloud.

Synergy's analysis points to a $68.1 billion Q3 revenue for cloud infrastructure services, with a trailing twelve-month revenue of $257 billion. Public IaaS and PaaS services contributed significantly to the market's growth, increasing by 19% in Q3. The leading cloud providers' dominance is more pronounced in the public cloud domain. Geographically, the APAC region experienced robust cloud market growth, particularly in India, China, Australia, and Japan.

AI's influence in expanding cloud workloads is evident, empowering enterprises to optimize their cloud operations. China's market is gradually returning to growth. The data supports an expectation of continued buoyant cloud growth rates in the coming years. Synergy Research Group, a reputable source for market share analysis in Communications and Cloud industries, provides these insights through their SIA™ research platform, supporting global industry leaders, governments, and financial institutions for over 20 years.

More Information : https://www.techdogs.com/tech-news/pr-newswire/ai-helps-to-stabilize-quarterly-cloud-market-growth-rate-microsoft-market-share-nudges-up-again

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