Cloud computing company, Amazon Web Services (AWS), has maintained its lead over rivals Microsoft Azure, and Google Cloud, in the race for the foremost position in the global cloud market, securing a 31% share, according to a report from Stocklytics.com.
Financial analyst at Stocklytics, Edith Reads, offered insights into the competitive landscape of the cloud market, stating, “the cloud market is proving competitive with players keen to tap into the new users. 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.”
Emerging Cloud Players
The emergence of platforms like Alibaba Cloud shows that the scope of the cloud market is expanding. Despite receiving comparatively less attention, these platforms have made significant strides, establishing footholds across various markets. Alibaba Cloud, in particular, has dominated the Asia-Pacific market as an Infrastructure-as-a-Service (IaaS) provider, capturing the third position globally with a considerable 7.7% market share.
Similarly, another lesser-known player, Tencent, has made notable headway by commanding 25% of China’s Cloud Market. The company shows no signs of slowing down and is actively developing an advanced infrastructure to compete with established players on the global stage. These developments are proof of the dynamic nature of the cloud market, where established giants like AWS face increasing competition from both traditional rivals and emerging players.
