IANS | 08 Jul, 2023
Led by Microsoft, global revenue for the public cloud services market
reached $545.8 billion last year, an increase of 22.9 per cent over
2021, according to a new report.
Top 5 public cloud service
providers – Microsoft, Amazon Web Services, Salesforce, Google, and
Oracle – captured more than 41 per cent of the worldwide total and
growing 27.3 per cent year over year, according to the latest IDC data.
With
offerings in all four deployment categories, Microsoft remained in the
top position in the overall public cloud services market with 16.8 per
cent share, followed by Amazon Web Services with 13.5 per cent share.
Software
as a Service – applications (SaaS-applications) continued to be the
largest source of public cloud services revenue, accounting for more
than 45 per cent of the total in 2022.
Infrastructure as a Service
(IaaS) was the second largest revenue category with 21.2 per cent of
the total while Platform as a Service (PaaS) and Software as a Service –
System Infrastructure Software (SaaS – SIS) delivered 17 per cent and
16.7 per cent of overall revenue, respectively.
“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 Rick Villars, group vice president,
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 Frank Della Rosa, research vice president, SaaS,
Business Platforms, and Industry Cloud at IDC.
