The global cloud services market reached a historic milestone in the fourth quarter of 2024, surpassing $90.6 billion in revenue, representing a 22% year-over-year growth. This increase has been largely driven by the massive adoption of generative artificial intelligence (AI) solutions and associated cloud services, according to data collected by CRN.
AWS Remains at the Top, but Microsoft and Google Narrow the Gap
Amazon Web Services (AWS) maintained its dominant position in the market with a 30% share, although this marks a slight decline from the 31% recorded in the same period last year. Microsoft Azure, on the other hand, solidified its second place with a 21% share, while Google Cloud reached 12%, reinforcing its steady growth in the sector.
Together, these three tech giants account for approximately 68% of the global cloud market. However, their growth has not only been driven by traditional demand for storage and computing but also by the rise of AI-based applications and the deployment of AI-optimized infrastructure.
Alibaba and Oracle Strengthen Their Cloud Presence
The Asian giant Alibaba Cloud maintained a stable 4% share, establishing itself as the most important cloud service provider in the Asia-Pacific region. Meanwhile, Oracle experienced notable growth, reaching a 3% share, reflecting its commitment to expanding its cloud infrastructure and integrating with AI and big data technologies.
Artificial Intelligence: A Key Growth Driver
The growth of the cloud market in 2024 has been closely linked to the advancement of generative artificial intelligence. Since the launch of ChatGPT, it is estimated that more than 50% of revenue growth among major cloud service providers comes from solutions based on GPUs, generative AI models, and improvements in traditional services powered by artificial intelligence.
This phenomenon has led AWS, Microsoft, and Google to significantly increase their investments in AI-specialized data centers, seeking to meet the growing demand from companies wanting to harness the potential of AI in their operations.
The Cloud Market in 2024: Unstoppable Growth
Throughout the year 2024, the cloud sector generated revenues of $330.4 billion, marking an increase of $60 billion compared to 2023 and $102 billion from 2022. These figures reflect the acceleration of digital transformation globally and the increasing reliance of organizations on cloud computing for critical operations, data storage, and the development of new technologies.
A Future Marked by Competition and Innovation
While AWS continues to be the undisputed leader of the sector, competition with Microsoft Azure and Google Cloud is becoming increasingly intense. The evolution of the market will depend on these companies’ ability to innovate in infrastructure, security, AI integration, and hybrid solutions, providing added value to their clients.
In this context, the upcoming years will be characterized by an unprecedented technological race, where the cloud will not only be the fundamental pillar of the digital ecosystem but also a key component in the evolution of artificial intelligence, data analytics, and quantum computing.
Companies that manage to adapt to this dynamic and ever-evolving environment will be the ones defining the future of the tech sector and its impact on the global economy.