The global cloud computing industry is moving towards maturity. Despite this transition from rapid growth towards maturity, the revenue growth figures for the cloud infrastructure market have impressed yet again.
Overall growth in the revenues generated by the cloud infrastructure market was recorded at an impressive 33% for the third quarter of 2020. Once we translate this growth in dollar terms, this is nearly the equivalent of a whopping US $33 BN.
These impressive growth figures were revealed by Synergy Research, which keeps a close eye on the global cloud computing market. This revenue growth that’s north of thirty three percent is particularly impressive in the backdrop of the Covid-19 pandemic.
Most industry experts had painted a cautious picture for the cloud market as well. While growth was surely anticipated by most market observers, the sheer pace at which the numbers have ultimately turned out has caught some by surprise.
In hindsight, we can safely conclude that the Covid-19 pandemic has had a positive impact on the cloud industry as a whole. A primary reason for this trend is the rapid migration of thousands of businesses globally towards cloud providers like dinCloud.
The top three cloud providers have remained unchanged over the third quarter as well. The cloud market is still being led by Amazon, whose revenues are nearly double that of its nearest competitor, Microsoft.
Second place in terms of revenues has been retained by Microsoft, while Google’s cloud platform ranks the third when it comes to revenue. dinCloud has also ranked among the fastest growing Cloud Service Providers (CSP) in the year 2020.
According to the findings of Synergy Research, two emerging technologies have generated renewed demand for cloud computing solutions. One of these is none other than 5G, while the other one is Edge Computing.
This has resulted in huge investments by Telecom giants to upgrade their infrastructures and cloud services are at the helm of providing the enabling environment. The deployment of cloud data centers by telecom providers will further pick up pace in the coming year.
In the domain of edge computing, there is an increasing trend of cloud providers to setup localized data centers. Such data centers are likely to have a pivotal role in the proliferation of both 5G and edge computing technologies over the upcoming quarters.