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Thursday, 11 August, 2022

Global cloud services spend up 33% to $62.3 Billion

Cloud growth August 2022

Cloud growth August 2022

Cloud computing is growing at a rapid rate.  The latest stats by Canalys, highlight cloud services spend has increased by 33% to $62.3 billion.  The top 3 players in Q2 2022 have all seen a huge increase.

  • AWS – 31% market share – 33% annual increase
  • Microsoft Azure – 24% market share – 40% increase
  • Google cloud – 8% market share – $45% increase

Thoughts and insights

In a post pandemic world, there has been a huge interest in digital migration. All major cloud suppliers are investing heavily in infrastructure to encourage the move to the cloud. Lower costs and ease of transformation have made this a lot easier than before. Companies are seeing huge benefits in digitising all operations as part of their digital transformation strategy. Some benefits include:

  • Faster and integrated data management
  • Data driven insights – AI, analytics
  • Seamless user experience with better customer satisfaction
  • Increased collaboration and agility of the workplace
  • Reduction of human data processing and errors
  • Lots more…

Despite inflation and the economic slowdown, we will probably see a continual increase in cloud adoption and investment into new technology. Mckinsey recently wrote about the $1 trillion worth of value that can be unlocked with cloud migration. This can be easily achieved across all industry verticals. Exciting times ahead.

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