The growing cloud computing market is attracting key providers who are aiming to dominate the space amid increasing adoption. However, Amazon Web Services has an edge in the billion-dollar market, as other providers attempt to catch up.
Data presented by Finbold indicates that Amazon Web Services (AWS) accounts for the largest share of cloud infrastructure service providers at 33%. Microsoft’s Azure platform ranks second with a share of 21%, followed by Google Cloud at 10%. Cumulatively, Google and Microsoft platforms account for a share of 31%.
Elsewhere, Alibaba Cloud has a share of 6% to emerge as the first top provider outside North America. IBM closes the top five category with a share of 4%. SalesForce has a share of 3%, followed by Tencent Cloud at 3% and Oracle Cloud at 2%.
Digital shift powering cloud computing market
The report highlights the drivers for the cloud computing market that is attracting key players. According to the research report:
“The cloud computing segment has recently accelerated amid a shift to digital products mainly powered by the impacts of the coronavirus pandemic. Amid the shift towards digital solutions, enterprises are increasingly considering the cloud as a vital digital transformation engine and a technology that improves business continuity. Furthermore, the growth of cloud computing has resulted in the providers emerging as cash cows for their parent companies.”
However, the dominance by AWS is under threat since providers like Google and Microsoft are rolling out innovative products in order to attract new consumers.
In general, the dominance has also come under criticism, especially over antitrust concerns. For instance, investigations have been launched against AWS for allegedly using its market dominance to stifle competition.