Amazon Web Services (AWS) has 31% of the global cloud market share, surpassing Microsoft Azure, according to research group Stocklytics.com.
“The cloud market is proving competitive with players keen to tap into new users,” says Edith Reads, financial analyst at Stocklytics. “AWS is outstanding due to its robust technology, competitive pricing, and early entry into the market. However, other players like Azure and Google Cloud are catching up.”
Reads says the emergence of Alibaba Cloud, among others, indicates the cloud market’s growth. Despite receiving little attention, these sites have made significant strides and are asserting their authority in various spheres. Alibaba has dominated the Asia-Pacific market for years as an IaaS provider and comfortably sits at the third position globally with 7,7%.
Similarly, another small player, Tencent, controls 25% of China’s cloud market and shows no signs of slowing down. The firm is developing an advanced infrastructure that will compete with other players on the global stage.