The first quarter of 2021 marked a phenomenal boost in cloud computing services globally. During the first quarter of 2021, the total spending on cloud computing was US $42 BN. This figure was released by Canalys, a company that closely watches the tech sector.
A similar up-trend was observed in the spending on various cloud infrastructure services, which stood at around US $11 BN for Q1 of 2021. According to Canalys, this growth can be attributed to an enhanced reliance on various cloud powered services.
The Cloud emerged as a robust mechanism for businesses across the globe to ensure Business Continuity (BC). The research firm emphasized that there was still a lot of room when it comes to digital transformation initiatives.
It comes as little surprise that Amazon Web Services (AWS) retained its coveted slot of the largest Cloud Service Provider (CSP) during the first quarter of 2021. According to Canalys, AWS holds nearly 32% of the total cloud market share.
Another platform that is quickly catching up with AWS is Microsoft’s Azure. The market share that is currently being held by Azure is about 19%, with Google Cloud trailing with a 7% total market share.
The Cloud served as a robust means for Business Continuity (BC), especially during the Covid-19 pandemic. This positive growth trend is expected to continue, with the lion’s share of 32% still being held by cloud giant AWS.
Canalys expects this positive growth momentum in cloud services to continue well into the year 2022. According to Canalys, this momentum has also enabled Cloud Service Providers (CSP) to substantially improve their overall earnings and re-invest in their architectures.