Cloud Technology Infrastructural Platform did wonders in 2020

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Image credit-Yan Wong from Pixabay

As per the Data researched in tandem alongside the Trading Platforms depicts that overall top four cloud infrastructural vendors comprising of Amazon Web Services, Microsoft Azure, Google Cloud as well as Alibaba Cloud that has reported for a 67% of overall market share of $129Billion IT Market within the Q4 of the 2020.

The overall revenue for the Cloud Vendors has shot up all with the COVID-19 Pandemic prompting a huge progress within the Market Share

The Amazon Web services packs the punch and leads out from the front with the giant share at around 32% followed by the Microsoft’s Azure coming distant second with 20%. Google Cloud comes distant third with an overall share of 9% followed out by Alibaba Cloud accounting out for a 6% of the market share.

The report submitted also revised 2020 global Cloud infrastructure service provider revenue, that stood at around $129 Billion. Within the Q1 to Q4, there was an upsurge within the revenue valued at 19.35%, from $31 Billion to $37 Billion. Within the Quarter 2 (Q2) as well as Quarter 3 (Q3) the preceding year in 2020, the revenue valued was $35 Billion and $37 Billion respectively.

Within the closure of Quarter 3 of the preceding year 2020, four vendors had overall market share of 64%, a 1% plummeting than the Quarter 3 (Q3) of the 2020 when it had accounted for 65%. The first quarter (Q1) of 2020 also posted market share of 64%.

The analysis enlightened the surge in market share and revenue for the chief cloud infrastructure in 2020. As, according to the research report: –

The revenue was from pioneered service providers that included Amazon AWS, Google Cloud, Microsoft Azure, Alibaba Cloud, IBM Cloud, Salesforce, Tencent Cloud, Oracle Cloud.

“The COVID-19 pandemic enhanced the cloud’s market share and revenue progress as practices like remote working, video conferencing, E-Commerce, content streaming, online gaming, as well as partnership gained acceptance. Simultaneously, the regular recovery of the economy from Q2 inspired cloud investments by establishments in all industry sectors to power out the digital revolution.”

Although four providers govern the market, smaller players are anticipated to make a declaration across 2021. These minor service providers will likely emphasis on precise market niches to offer a comprehensive range of cloud services.

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