New Delhi: According to recent projections, Microsoft led a market for public cloud services that saw global sales of $545.8 billion last year, an increase of 22.9 per cent from 2021.
As per the latest IDC data, Top 5 public cloud service providers – Amazon Web Services, Microsoft, Google, Salesforce, and Oracle – captured more than 41 per cent of the worldwide total and growing 27.3 per cent year over year.
With solutions in all four deployment categories, Microsoft has maintained its top position in the market for public cloud services with a 16.8% share, followed by Amazon Web Services at 13.5%.
Software as a Service – applications (SaaS-applications) which accounted for more over 45% of the total revenue for public cloud services in 2022, remained the main source of income for these services.
With 21.2 percent of the total, infrastructure as a Service (IaaS) was the second-largest revenue category, followed by platform as a service (PaaS) and Software as a Service – System Infrastructure Software (SaaS-SIS), which contributed 17% and 16.7%, respectively, to total revenue.
“The assessment and use of AI, triggered by generative AI, is starting to dominate the planning and long-term investment agendas of businesses and cloud providers will play a significant role in the evaluation and adoption of AI enablement services,” said group vice president, Rick Villars, Worldwide Research at IDC.
Meanwhile, the revenue for foundational cloud services that support digital-first strategies saw revenue growth of 28.8 per cent.
“SaaS – Applications remain the largest segment of the more than $547 billion cloud software market forecast by the end of 2023,” said research vice president Frank Della Rosa, SaaS, Business Platforms, and Industry Cloud at IDC.
