RENO, Nev., July 31, 2020 (GLOBE NEWSWIRE) -- New data from Synergy Research Group shows that Q2 spend on cloud infrastructure services passed the $30 billion milestone, an increase of $7.5 billion from the second quarter of 2019. This continues the trend of ever-larger increments in cloud spending. Q2 2019 spending grew $6.5 billion from Q2 2018, which in turn grew $5.5 billion from Q2 2017. Amazon market share remained at its long-standing mark of around 33%, while Microsoft was at 18% for the third consecutive quarter and Google share nudged up to 9%. In aggregate Chinese cloud providers now account for over 12% of the worldwide market, led by Alibaba, Tencent and Baidu. The top eight cloud providers now account for 77% of the worldwide market. They are followed by a long tail of small providers or large companies with a minor position in the cloud market.

With most of the major cloud providers having now released their earnings data for Q2, Synergy estimates that quarterly cloud infrastructure service revenues (including IaaS, PaaS and hosted private cloud services) were almost $30.5 billion, with trailing twelve-month revenues reaching $111 billion. Public IaaS and PaaS services account for the bulk of the market and those grew by 34% in Q2. The dominance of the top five providers is even more pronounced in public cloud, where they control almost 80% of the market. Geographically, the cloud market continues to grow strongly in all regions of the world.

“As far as cloud market numbers go, it’s almost as if there were no COVID-19 pandemic raging around the world. As enterprises struggle to adapt to new norms, the advantages of public cloud are amplified,” said John Dinsdale, a Chief Analyst at Synergy Research Group. “The percentage growth rate is coming down, as it must when a market reaches enormous scale, but the incremental growth in absolute dollar terms remains truly impressive. The market remains on track to grow by well over 30% in 2020.”

About Synergy Research Group

Synergy provides quarterly market sizing and segmentation data on cloud and related markets, including company revenues by segment and by region. Synergy Research Group (www.srgresearch.com) helps marketing and strategic decision makers around the world via its unique insights and in-depth analytics.

To speak to an analyst or to find out more about how to access Synergy’s market data, please contact Heather Gallo @ hgallo@srgresearch.com or at 775-852-3330 extension 101.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b30f74b0-235f-4a9e-820b-0846a376044a

Cloud Services Q2

Cloud Services