Top five cloud providers earned $ 47.5 billion in quarterly revenue. Microsoft and Amazon have generated 65% of this revenue.
The cloud computing industry continued its impressive growth in 2021, bringing huge benefits to the biggest players in the market. According to data presented by Stock Apps, the top five cloud providers in the world reached $ 47.5 billion in quarterly revenue. Microsoft and Amazon generated 65% of that value.
Microsoft Azure quarterly revenue increased 50% year over year, AWS revenue grew 32%
Top 10 cloud providers
Top 10 Global Cloud Providers by Total Revenue for the Fiscal Quarter Ended March 31, 2021 (USD Billion)
Public Cloud Market Revenue, 2019-2025 (USD Billion).
As the world’s second-largest cloud provider, Amazon’s cloud revenue has also grown for several consecutive years, reaching an all-time high in the first quarter of 2021. AWS generated $ 13.3 billion in revenue between January and March, a massive 32% year-over-year increase.
IBM, Salesforce and Google Cloud round out the top five list, with $ 6.5 billion, $ 5.8 billion and $ 4 billion in quarterly revenue, respectively.
Global public cloud revenues to exceed $ 500 billion by 2023
COVID-19 and the shift to remote work and video conferencing have accelerated moves to the cloud in 2020, with annual revenues rising to more than $ 55 billion. However, the following years are expected to see even more impressive growth, with revenues reaching a new benchmark.
In 2021, global public cloud revenue is expected to grow another 25% to $ 338 billion, according to Statista’s survey. The impressive revenue growth is expected to continue over the next two years, with the public cloud market reaching a value of over $ 500 billion in 2023.
The largest market segment, software as a service (SaaS), is expected to reach a value of $ 251.4 billion over the next two years, up from $ 190.9 billion in 2021.
Platform as a service (PaaS) revenue is expected to increase 67% during this period to reach $ 101.1 billion. However, it is the Infrastructure as a service (IaaS) segment that is expected to experience the greatest growth, with revenues increasing by almost 70% to reach $ 87.4 billion over the next two years.