Microsoft and Amazon claim 65% of 47.5bn quarterly revenue of top 5 cloud vendors
The cloud computing industry continued its impressive growth in 2021, bringing huge profits for the market’s largest players.
According to data presented by StockApps, the world’s five largest cloud vendors hit $47.5bn in quarterly revenue and Microsoft and Amazon generated 65 per cent of that value.
Amazon Azure`s Quarterly Revenue Jumped by 50% YoY, AWS up by 32% YoY
Today, billions of people use cloud storage to manage and store private data. However, its ability to provide access to computing power that would otherwise be extremely expensive has made cloud computing technology widespread in the business sector.
Microsoft, Amazon, IBM, Salesforce, and Google represent the world’s top five cloud vendors, offering companies with different services, apps, and other resources for their IT and operations.
As of its third fiscal quarter 2021, ending March 31, Microsoft generated cloud revenues of $17.7bn worldwide, positioning the tech giant as the leader among cloud vendors. Statistics show Microsoft’s server products and cloud services revenue increased 26% YoY, driven by Azure revenue growth of 50%.
As the world’s second-largest cloud vendor, Amazon`s cloud revenues had also been growing for years in a row, reaching an all-time high in the first quarter of 2021. AWS generated revenue of $13.3bn between January and March, a massive 32% increase year-over-year.
IBM, Salesforce, and Google Cloud round the top five list, with $6.5bn, $5.8bn, and $4bn in quarterly revenue, respectively.