Synergy Research Group published the results of a study of the global cloud platform market in the second quarter of 2023. It is said that the costs of companies for cloud infrastructure services continue to grow steadily, which is facilitated by digital transformation. At the same time, growth rates slowed down a bit.
Cloud spending in Q2 2023 was approximately $65 billion, up $10 billion from the same period last year. This marked the third consecutive quarter when the cloud computing market grew by $10 billion year-over-year.
It should be noted that the figure of US$ 65 billion corresponds to an increase of 18% compared to the second quarter of 2022. For comparison: in the first quarter of this year, growth was recorded around 19% (yoy), while in the last quarter of 2022 this value was 20%.
The report notes that the development of the global cloud market is influenced by macroeconomic factors. Among the largest cloud providers, Google and Microsoft posted the strongest year-over-year growth. As a result, their global market shares in the second quarter of 2023 were 22% and 11% respectively. At the same time, leader Amazon (AWS) has stayed within its established number of 32-34%.
In total, the three named leaders account for 65% of the global cloud market. Among tier 2 cloud providers, Oracle, Snowflake, MongoDB, VMware, Huawei, and China Telecom showed the highest year-over-year growth rates.
Public IaaS and PaaS services still make up the majority of the market, growing 19% in Q2. The dominance of the big cloud providers is most noticeable in the public cloud segment, where the top three control 72% of the market.
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