Amongst the many cloud providers in the market, AWS, Azure, and Google Cloud stand out and are dominating the public cloud market. But how do these three cloud providers rank in terms of market share and growth rate?
AWS dominance in the public cloud market
Despite the recent turmoil in the public cloud market, Amazon Web Services (AWS) maintains a commanding lead over its competitors. AWS’s success in the market is due in large part to its six year head start. In fact, Amazon’s early innovations, including cloud-based data warehouse Redshift and event-based serverless computing platform Lambda, helped shape the public cloud market as we know it today.
The company’s deep pockets allowed it to outspend its competitors, while its focus on customer needs allowed it to create the kind of service that software developers and architects wanted. The company has continued to “eat its own dog food,” as John Dinsdal, chief analyst at Synergy Research Group, puts it.
AWS offers a number of cloud-based services, including compute, storage, networking, analytics, developer tools, mobile, and more. The company has a strong technical team, a global tech partner ecosystem, and a relentless focus on customer needs.
Compared to AWS and Azure, Google Cloud has some advantages. These include the ability to integrate with third party vendor products. Google is also growing quickly in its cloud footprint, allowing it to compete with the other two big names.
Google Cloud Platform is best known for its data analytics, big data solutions, and machine learning. It’s also one of the fastest growing cloud services, with a market share that is almost 100%.
Unlike Azure, Google has a more traditional relationship with organizational customers. It also has more regions and availability zones, which means it has more opportunities to take advantage of big data.
Google has a lot to offer, including data analytics and machine learning, but it doesn’t have the same focus on enterprise solutions that AWS and Azure have. It also has a less-developed big data platform.
Currently, AWS has a market share of about one-third of the global cloud market. Meanwhile, Microsoft Azure and Google Cloud each have a market share of roughly 19%. The growth rate of the three is almost the same. The global cloud market is estimated at US$62.3 billion in the second quarter of 2022.
Amazon Web Services is the leading cloud provider with a clear lead in revenue. During the past ten years, AWS has seen exponential growth.
Microsoft Azure is the second largest cloud provider. It entered the market four years after Amazon’s entry into the cloud computing market. Azure has been growing steadily and has closed the gap with AWS.
Google Cloud is a relatively new player. It is not as large as AWS, and does not have as much of a global presence. But, it is quickly expanding its global data centers. In the past year, Google Cloud has grown 49%.
European cloud market growth during Covid time
During Covid time, the European cloud market saw unprecedented growth. The growth in cloud usage strengthened Europe’s competitiveness. It also strengthened the innovation potential of Europe. The European Commission had set a target of 75 percent of EU companies using cloud services by 2030.
Europe’s cloud market has grown five times in the last four quarters, and will reach EUR 10.4 billion in the second quarter of 2022. The market will increase to EUR 300 billion to EUR 500 billion by 2027. It is predicted to employ over 500,000 people by 2027.
Cloud computing can help European companies become more flexible, cost-effective, and innovative. In turn, it can help strengthen Europe’s economic growth. The emergence of new start-ups is another factor driving cloud services. It also helps companies to make use of the latest technologies at a low cost.
Among the “big three” cloud providers, Google, Azure, and Amazon, AWS is the clear market leader. The company provides cloud computing services for businesses of all sizes. It is also the oldest of the three.
It is a leading provider of infrastructure as a service (IaaS) and platform as a service (PaaS) solutions. It offers a wide variety of tools and services to make life easier for businesses. Among its other advantages are its high degree of scalability, security, and flexibility. It also offers some of the most robust features in the industry.
In the cloud computing world, there are many cloud service providers, and many of them are competing for your business. Choosing the right provider for your organization will depend on your business’ needs and budget.