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Cloud services have been growing incredibly fast over the last decade or so. Now that all the big players have released their quarterly results, we can take a closer look at who is dominating the sector.
As you can see from the image below, there are three major players, making up 67% of the market - Amazon (AWS), Microsoft (Azure) and Google (Google Cloud). They all did very well in a sector that was estimated to grow 18% during the period, but Microsoft can hold its head up high as the best performer.
Azure grew revenues by 28%, resulting in a solid market share gain. As you can see from the graph, it looks like AWS was the loser in the quarter, only growing by 13%. Nonetheless, AWS is still the market leader, and growth becomes more difficult with size.
We are very happy to be exposed to the cloud services sector through these behemoths and hope they all do well.
