Not all businesses have suffered at the hands of the coronavirus – a small minority have actually thrived.
According to a new report from Synergy Research, cloud service providers have recorded substantial growth as a result of the rapid transition to remote working, made necessary by widespread coronavirus quarantine measures.
The rising tide lifted all boats, it seems, as the sector leaderboard has remained virtually the same. The big three – Amazon, Microsoft and Google– all enjoyed cloud business growth, as per quarterly earnings reports.
“While Covid-19 is having a devastating impact on communities and economies around the world, indications are that it is having a mildly positive impact on the cloud infrastructure services market,” explained John Dinsdale, Chief Analyst at Synergy.
The company claims the market hit $29 billion in the first quarter of the year, with Amazon and Microsoft making up roughly half (Amazon with 32 percent and Microsoft with 18). Meanwhile, total market revenue for the past 12 months came in at $104 billion.
While the crisis has certainly caused logistical issues that cloud providers are having to navigate, it has also served to demonstrate the importance of cloud to modern business.
“Public cloud is providing flexibility and a safe haven for enterprises that are struggling to maintain normal operations....The main result has been that yet more workloads have been pushed on to public clouds,” noted Dinsdale.