According to a report by Synergy Research Group, public cloud services and infrastructure market revenues reached $126 billion in Q1 2022, recording a growth of 26 per cent from Q1 2021.
As per the report, infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) posted the biggest growth. First quarter revenue from these services grew by 36 per cent to reach over $44 billion.
Meanwhile, managed private cloud services, enterprise software-as-a-service (SaaS) and content delivery network (CDN) grew by an average 21 per cent from last year, adding another $54 billion in service revenue.
The report further notes that public cloud providers spent $28 billion on building, leasing and equipping their data centre infrastructure, which was up 20 per cent from Q1 2021, to support the digital services.
Companies that featured the most prominently across the whole public cloud ecosystem were Microsoft, Amazon, Salesforce and Google. Other major players included Adobe, Alibaba, Cisco, Dell, Digital Realty, IBM, Inspur, Oracle, SAP and VMware. In aggregate, these companies accounted for 60 per cent of all public cloud-related revenues.
Commenting on the report, John Dinsdale, chief analyst, Synergy Research Group, said, “Looking out over the next five years the growth rates will inevitably tail off as these markets become ever-more massive, but we are still forecasting annual growth rates that are generally in the 10 per cent to 30 per cent range. To enable cloud service markets to keep up with demand by doubling in size in the next 3-4 years, the major cloud providers need an ever-larger footprint of hyperscale data centres and more raw computing power, which then drives the markets for data centre hardware and software.”
