As businesses worldwide continue to spend increasing sums of money on cloud solutions, industry players are breaking new revenue records.
This is the conclusion of a new report from Synergy Research Group, which says that spending on cloud infrastructure services rose by 37 percent year-on-year in Q3, reaching $45 billion.
More than half of that money went to the so-called Big Three - Amazon, Microsoft, and Google. Amazon now holds a third of the global market (33 percent), Microsoft a fifth (20 percent) and Google a tenth (10 percent).
That doesn’t mean smaller cloud providers aren't benefiting from the surge, however. For the next ten largest cloud providers, sales grew by more than a quarter (28 percent) year-on-year, while for small and medium-sized providers, sales grew 25 percent, the report states.
Most of the revenue came from Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS) solutions.
"Given their scale, ever-expanding worldwide presence, and impressive revenue growth rates, it is understandable that Amazon, Microsoft, and Google grab the most attention for their cloud activities,” said John Dinsdale, Chief Analyst at Synergy Research Group.
“However, that makes it easy to overlook the fact that other cloud providers generated $17 billion in the quarter, a figure which grew by 27 percent from last year."