RENO, Nev., Oct. 29, 2021 /PRNewswire/ — New data from Synergy Research Group shows that Q3 enterprise spending on cloud infrastructure services passed the $45 billion mark, up 37% from the third quarter of 2020. Amazon, Microsoft and Google continue to attract well over half of worldwide cloud spending, with Q3 market shares of 33%, 20% and 10% respectively. With growth rates that are higher than the overall market, their share of worldwide revenues continues to inch upwards. However, other cloud providers are still continuing to achieve strong growth in cloud revenues, despite the prominence of the big three US companies. The next ten largest cloud providers achieved 28% year-on-year revenue growth, while the long tail of medium-to-small cloud providers grew by 25%.
With most of the major cloud providers having now released their earnings data for Q3, Synergy estimates that quarterly cloud infrastructure service revenues (including IaaS, PaaS and hosted private cloud services) were $45.4 billion, with trailing twelve-month revenues reaching $164 billion. Public IaaS and PaaS services account for the bulk of the market and those grew by 39% in Q3. The dominance of the major cloud providers is even more pronounced in public cloud, where the top three control 70% of the market. Geographically, the cloud market continues to grow strongly in all regions of the world.
“Given their scale, ever-expanding worldwide presence and impressive revenue growth rates, it is understandable that Amazon, Microsoft and Google grab the most attention for their cloud activ ities. However, that makes it easy to overlook the fact that other cloud providers generated $17 billion
About Synergy Research Group
Synergy provides quarterly market sizing and segmentation data on cloud and related markets, including company revenues by segment and by region. Synergy Research Group (www.srgresearch.com) helps marketing and strategic decision makers around the world via its unique insights and in-depth analytics.
To speak to an analyst or to find out more about how to access Synergy’s market data, please contact Heather Gallo @firstname.lastname@example.org or at 775-785-3113.
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SOURCE Synergy Research Group
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