Amazon Web Services (AWS) has established itself as a quick leader in the market for cloud infrastructure. Amazon’s profitable cloud platform is still ahead of the pack. The market share of Amazon in the cloud infrastructure market worldwide was nearly 34% in the second quarter of 2022, this is a figure estimated by Synergy Research Group. This figure still exceeds the combined market share of its two biggest competitors, Google Cloud and Microsoft Azure.
The expenditure of global cloud infrastructure service has raised to $55 billion in the second quarter of 2022, and has brought industry total for the trailing twelve months to more than $200 billion. As it is visible on the infographic that Amazon and Microsoft are responsible for more than half of cloud structure revenues in the three months that ended on 30th June.
The Chief Analyst at Synergy Research Group, John Dinsdale, said in reference to adverse exchange rate effects on the industry's overall growth
“Global cloud providers are certainly not immune from the impact of ongoing shifts in exchange rates".
He continues to explain why his company’s forecasts continue to show strong growth in all key cloud market metrics by saying,
"However, the fact remains that the underlying growth in cloud usage continues to grow at truly impressive rates."