Synergy Research Group has released the results of a study of the global cloud market in the second quarter of 2024. Global spending on cloud infrastructure services (including IaaS, PaaS and private services) reached $79 billion. Expenses for 12 months (by the end of June) amounted to approximately $297 billion.
The top three globally remain unchanged: Amazon (AWS), Microsoft and Google with shares of 32%, 23% and 12%, respectively. Next come Alibaba, Oracle and Salesforce.
It is noted that from a geographical point of view, Amazon, Microsoft and Google are leading in all regions of the world except China. In China, the top three cloud providers are Alibaba, Tencent and China Telecom, followed by Huawei, China Unicom and China Mobile. This picture is explained by geopolitical factors due to which Western cloud service providers are limited in their capabilities in the Chinese market. In Europe, the Asia-Pacific region (with the exception of China again) and other parts of the world, the ranking of the largest cloud providers also includes IBM, Oracle, NTT and Fujitsu (see table).
The study says the US remains the largest market for cloud services. Next comes China, which is well ahead of other countries including Japan, the UK, Germany and India. Together, the US, China, Asia-Pacific and Europe account for more than 90% of the global cloud services market.
Synergy Research Group notes that together Amazon, Microsoft and Google operate a global network of more than 560 data centers. In the second quarter of 2024 alone, these companies invested over $48 billion in the development of data center infrastructure: most of the funds went to the construction, equipping and updating of facilities and associated networks.
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