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AWS, Microsoft Azure and Google are the global cloud market share Q4 2023 leaders with enterprise cloud services hitting $74 billion, new market data shows.
Amazon Web Services clocked up double-digit revenue growth during the final quarter of 2023, but analyst figures show the company is losing market share to Microsoft.
For the last several quarters we've seen a lull in the expansion of the cloud infrastructure market, with lower growth numbers than we've been accustomed to seeing in the past. The new revenue wave began just last year, driven by the ChatGPT hype cycle, but has already pushed cloud infra revenue in the fourth quarter of 2023 to $74 billion, up $12 billion over last year at this time and $5.6 billion over Q3, the largest quarter-over-quarter increase the cloud market has experienced, per Synergy Research. The cloud infrastructure market for the entire year grew to an eye popping $270 billion, up from $212 billion in 2022.