According to research firm Gartner, Amazon.com Inc (NASDAQ: AMZN) retained its commanding position in the billion-dollar cloud infrastructure market last year, despite its share shrinking in the fast-growing category.
What happened was this: Amazon had a 41 percent market share in the infrastructure as a service (IaaS) category in 2020, down from 44.6 percent in 2019.
In example, Microsoft Corp (NASDAQ: MSFT), Alibaba Group Holding (NYSE: BABA), Google-parent Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL), and Huawei all increased their market share in the cloud infrastructure field last year.
Also see: Microsoft is building four new data centers in China as part of its cloud push, according to a report. Why It Matters: It’s worth noting that Amazon’s cloud infrastructure revenue of $26.2 billion is still more than double that of Microsoft’s $12.65 billion.
Alibaba came in third place with $6.12 billion in cloud infrastructure revenue, followed by Google with $3.93 billion and Huawei with $2.67 billion.
According to the analysis, the IaaS category will grow 40.7 percent to $64.3 billion in 2020, as the reliance on cloud infrastructure increased during the epidemic.
Alibaba Counts On ‘ForwardAsia’ For Cloud Expansion Amid Domestic Problems, To Invest $1 Billion In Southeast Asia
As corporations and organizations hurry to accommodate employees working from home during the epidemic, IT giants are facing increased rivalry in the cloud computing area, which is swiftly turning out to be a crucial profit driver.
Price Changes: On Monday, Amazon’s stock finished at $3,443.89, up 1.25 percent.
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