Synergy Research Group has released its study of the global cloud market for Q2 2024. Global spending on cloud infrastructure services, including IaaS, PaaS, and private services, reached $79 billion. For the 12 months ending June 2024, spending amounted to approximately $297 billion.
Market Leaders and Regional Dynamics
The top three global leaders remain unchanged: Amazon (AWS) at 32%, Microsoft at 23%, and Google at 12% market share. They are followed by Alibaba, Oracle, and Salesforce. Amazon, Microsoft, and Google lead in all regions except China, where Alibaba, Tencent, and China Telecom dominate, followed by Huawei, China Unicom, and China Mobile. This unique situation in China is attributed to geopolitical factors limiting Western cloud providers’ capabilities in the Chinese market, notes NIX Solutions.
In Europe, Asia Pacific (excluding China), and other parts of the world, notable players include IBM, Oracle, NTT, and Fujitsu. The United States maintains its position as the largest market for cloud services, followed by China, which significantly outpaces other countries like Japan, the UK, Germany, and India. Collectively, the United States, China, Asia Pacific, and Europe account for over 90% of the global cloud services market.
Infrastructure Investments and Future Outlook
Amazon, Microsoft, and Google operate a combined network of more than 560 data centers globally. In Q2 2024 alone, these companies invested over $48 billion in data center infrastructure development, primarily focusing on building, equipping, and updating facilities and associated networks.
As the cloud market continues to evolve, we’ll keep you updated on any significant changes or emerging trends in this dynamic industry.