According to the latest report released by the market research agency Canalys, the global cloud infrastructure service expenditure in the second quarter of 2023 will be 72.4 billion U.S. dollars, a year-on-year increase. 16%.
Compared with the 19% year-on-year growth in the previous quarter, the growth in this quarter slowed down, and the report said that the main factor was the increase in market size.
Breaking down cloud infrastructure vendors, the top three providers AWS, Microsoft Azure, and Google Cloud together grew 20%, accounting for 65% of total spending, down from 22% in the first quarter.
AWS
Both AWS and Microsoft saw growth decelerations, but Google Cloud’s growth rate remained steady at 31% compared to the previous quarter.
Amazon Web Services (AWS) continues to lead the cloud infrastructure services market in Q2 2023, accounting for 30% of total spending, up 12% year-over-year.
AWS growth has more than halved since this time last year. Faced with slowing revenue growth, AWS is aggressively increasing its investments in artificial intelligence.
Microsoft Azure
Microsoft Azure captured 26% of the market after growing 26% annually, positioning it as the second-largest cloud service provider in the second quarter of 2023.
Business performance is expected to remain stable given its cloud order book rose 19% to $224 billion in 2Q23.
Google
With 31% year-over-year growth in Q2 2023, Google Cloud is the strongest growth among the top three hyperscalers, capturing 9% of the cloud market share.
Google’s approach to extending the depreciation period for servers and network equipment helps control operating costs and improves Google Cloud’s profitability.
The report states that in the current business environment, where the focus is on cost containment, cloud providers must ensure a large influx of new customers and workloads to drive revenue growth.
The emergence of artificial intelligence technologies is introducing new cloud workloads and will drive huge demand for computing power, creating new opportunities for cloud growth.
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Global cloud services market growth slows to 16% in Q2 2023