It was recently reported that worldwide cloud infrastructure services expenditures have topped $50 billion in a quarter for the first time in Q4 2021.
Indeed, a study by Canalys showed that the total spending grew by 34% compared to the same period a year ago. This is mainly due to the diversity of use of cloud infrastructure services, especially in healthcare and the public sector, as well as the increased cloud migration and cloud-native application development.
Moreover, this was also driven by remote working and learning, eCommerce, gaming, and content streaming. The rise of the metaverse will inevitably increase the demand and the need for more distributed, intelligent, and scalable services with lower latency.
Hence, the top three in Q4 2021 – AWS, Microsoft Azure, and Google Cloud – have collectively grown 45% and account for a combined 64% share of customer spend.