Having established itself as an early leader in the market for cloud infrastructure, Amazon Web Services (AWS), the online retailer’s profitable cloud platform, is still ahead of the pack. According to estimates from Synergy Research Group, Amazon’s market share in the worldwide cloud infrastructure market amounted to 34 percent in the third quarter of 2022, still exceeding the combined market share of its two largest competitors, Microsoft Azure and Google Cloud.
In Q3 2022, global cloud infrastructure service spending climbed to $57 billion, bringing the industry total for the trailing twelve months to $217 billion. As the following chart shows, Amazon, Microsoft and Google accounted for two thirds of cloud infrastructure revenues in the three months ended Sept. 30, with the eight largest providers controlling more than 80 percent of the market.
“It is a strong testament to the benefits of cloud computing that despite two major obstacles to growth the worldwide market still expanded by 24 percent from last year," John Dinsdale, chief analyst at Synergy Research Group said. "Had exchange rates remained stable and had the Chinese market remained on a more normal path then the growth rate percentage would have been well into the thirties.”