Global Public Cloud Revenue To Grow To $258 Billion In 2020, SaaS To Surpass IaaS By Over $100 Billion

Due to the global pandemic and the shift to remote work, the migration to cloud computing has accelerated in 2020. The global public cloud services market will grow by 6.3% in 2020 to $257.9 billion.

According to the research data analyzed and published by StockApps, Desktop as a Service (DaaS) is expected to grow the fastest, at 95.4% to reach $1.2 billion.

Software as a Service will remain the largest segment, growing to $104.7 billion while Infrastructure as a Service (IaaS) will grow by 13.4% to $50.4 billion.

Top Four Cloud Service Providers Grew a Collective 40% in Q3 2020

Based on a report by Canalys, the global cloud market grew by 33% year-over-year (YoY) to reach $36.5 billion during Q3 2020. There was an increase of $9 billion from the Q3 2019 total and $2 billion from Q2 2020.

The top four providers in the space, namely, Amazon, Microsoft, Google and Alibaba, grew 40% collectively during the period.

Amazon Web Services (AWS) took the lead with a 32% share, up from 31% in Q2 2020 but down from 33% in Q3 2019. Compared to Q3 2019, its cloud business grew by $2.6 billion. Total AWS revenue for Q3 2020 grew by 29% reaching $11.6 billion.

Microsoft was second with a 19% market share up from 17% in Q3 2019. Microsoft Azure sales for the period rose by 48% YoY. By the end of Q3 2020, Microsoft’s cloud revenue annual run rate was almost $61 billion.

Google was the third largest cloud service provider with a 7% market share. Its market share increased from 6% in Q3 2019 and its revenue shot up by 44.7% to $3.4 billion in Q3 2020.

Alibaba took the fourth spot globally while leading in China as well as the APAC region. It had a 6% market share up from 5% in Q3 2019. Alibaba Cloud had a 40.1% market share in China’s IaaS market in Q2 2020. Huawei Cloud was second with 15.5% and Tencent Cloud was third with 15.1%.

The full story, statistics and information can be found here: https://stockapps.com/global-public-cloud-revenue-to-grow-to-258b-in-2020-saas-to-surpass-iaas-by-over-100b/

© Scoop Media