According to the latest data released by Gartner, the global infrastructure-as-a-service (IaaS) public cloud services market grew 29.7 per cent in 2022 to reach $120.3 billion compared to $92.8 billion in 2021.
As per the data, the top five IaaS providers – Amazon, Microsoft, Alibaba Group, Google and Huawei – accounted for over 80 per cent of the market. Amazon continued to lead the worldwide IaaS market with revenue of $48.1 billion and a 40 per cent market share. Microsoft followed in the second position with a 21.5 per cent share, reaching over $25 billion in revenue. Alibaba Group again held the third position with a 7.7 per cent market share. Google saw the highest growth rate of the top five IaaS vendors, growing 41 per cent in 2022 to reach over $9 billion in revenue.
According to Gartner, cloud has been elevated from a technology disruptor to a business disruptor. IaaS is driving software-as-a-service (SaaS) and platform-as-a-service (PaaS) growth as buyers continue to add more applications to the cloud and modernise existing ones.
Gartner added that IaaS growth in 2022 was stronger than expected, despite a slight softening in the fourth quarter as customers focused on using their previously committed capacity to its fullest potential. This is expected to continue until mid-2023 and is a natural outcome of the market’s maturity. The firm expects an acceleration in 2024, as there is still room for plenty of additional future growth.
