According to a new report by Canalys, Amazon Web Services (AWS) was the leading cloud service provider with 32 per cent market share in Q1 2021, as cloud infrastructure services spending grew 35 per cent to $41.8 billion in the first quarter.
Meanwhile, Microsoft Azure recorded a growth of 50 per cent for the third consecutive quarter, taking its market share to 19 per cent in Q1 2021.
Further, Google Cloud recorded a growth of 56 per cent in Q1 2021 to account for a 7 per cent market share.
The report noted that the trend of using cloud services for data analytics and machine learning, data centre consolidation, application migration, cloud native development and service delivery continued at pace.
The acceleration of digital transformation over the last one year, with organisations adapting to new working practices, customer engagement, business processes and supply chain dynamics, has caused a surge in the demand for Cloud
In fact, as per the report, overall customer spending exceeded $40 billion a quarter for the first time in Q1 2021, with total expenditure nearly $11 billion higher than in Q1 2020 and nearly $2 billion more than in Q4 2020.
