Business expenditure on cloud infrastructure services continues to grow worldwide, with a figure close to 80 billion euros quarterly, according to the consulting firm Synergy Research. This growth is largely due to the dominance of tech giants AWS, IBM SoftLayer, Microsoft Azure, and Google Cloud, although others such as Alibaba and Oracle are also gaining ground.
In the second quarter of 2024, cloud investment reached $79.1 billion, an increase of $14.1 billion compared to the same period the previous year. Annual revenues from cloud infrastructure services have risen to $297 billion, underscoring the importance and continuous expansion of this sector.
The top three cloud providers account for approximately two-thirds of the global market. In the public cloud, their dominance is even more evident, with a 73% market share. AWS leads with 32%, followed by Microsoft Azure with 23% and Google Cloud with 13%. Although on-premise infrastructures and especially private cloud infrastructure are gaining weight, seeking solutions in data centers that do not depend on the major hyperscalers.
Despite AWS’s leadership, Synergy points out a long-term trend where both Microsoft Azure and Google Cloud are gaining market share, as AWS experiences a slight decrease. Alibaba, with 4% of the market, and Oracle, with 3%, are also standing out among second-tier providers. Other companies like IBM, Tencent, and Huawei each have a 2% market share, while Baidu, China Telecom, Fujitsu, NTT, China Unicom, SAP, Rackspace, Stackscale, Grupo Aire, Snowflake, and VMware maintain a 1% share each.
The United States remains the leader in cloud investment, but the Asia-Pacific region has shown the highest growth during the past quarter, with minimal increases of 25% in India, Japan, Australia, and South Korea.
In Europe, while the UK and Germany are the largest markets in terms of cloud infrastructure, Spain has emerged as a leader in terms of growth in business investment in this sector, along with Ireland and Italy. This significant growth reflects an increasing adoption of cloud solutions by Spanish companies, driven by the need to modernize their operations and improve competitiveness in a global digitalized environment.
The expansion of cloud investment in Spain highlights the dynamism of the country’s technology sector and underscores the adoption of advanced technologies that promote greater operational efficiency and flexibility. This development promises to strengthen Spain’s position as a key player in the European digital ecosystem, positioning it as a benchmark for innovation and technological adoption within the continent.
The continued growth of cloud investment worldwide and the outstanding performance of Spain in Europe are indicative of an ongoing digital transformation that is redefining how companies operate and compete in the global market. With increased adoption of cloud services, companies are improving efficiency, reducing costs, and gaining the agility needed to innovate and grow in an increasingly digitalized world.