Total cloud market revenue grew to $191.7 billion in 2021, coming from $142 billion in 2020.
The cloud market grew by 35 percent in 2021 compared to 2021. Total market revenue last year was $191.7 billion. Thus, revenue thickened by just under $50 billion. That’s what analysts at Canalys report.
AWS remains the largest
Together, market leaders AWS, Microsoft Azure and Google Cloud grew 45 percent. The three of them accounted for 64 percent of the money spent in the industry. AWS remains the largest with a 33 percent share of revenue. Azure today holds 22 percent of the market. Google is in third place with 9 percent.
The smallest major provider did experience the most significant growth: 63 percent compared to 46 percent for Microsoft and 40 percent for AWS. Unsurprisingly, of course, year-over-year growth is lower in percentage terms for organizations that already hold a larger share of the cake. AWS’ market share has remained fairly stable in the growing market in recent years, while Microsoft and Google do grow relatively larger. This comes at the expense of other smaller players such as IBM.
Synergy reports similar figures. For the past quarter, both analysis firms see revenue of $50 billion. Last year, the cloud grew even faster than it did in 2020 during the pandemic outbreak. The company notes that enterprises today spend on average twice as much on the cloud than on their own data centers.