Public Cloud revenue jumps 26% to reach $126 bn in Q1 2022: Report
Public cloud services and infrastructure market revenues reached US$ 126 billion in the first quarter of 2022, a 26% increase YoY, according to a new report by Synergy Research Group.
Infrastructure as a service (IaaS) and platform as a service (PaaS) experienced the largest growth, with first quarter revenue from these services increasing by 36% to reach over US$ 44 billion. Managed private cloud services, enterprise software-as-a-service (SaaS), and CDN generated an additional US$ 54 billion in service revenues in the other major service segments, up an average of 21% from the previous year.
Public cloud providers spent US$ 28 billion, up 20% YoY, on developing, leasing, and equipping their data centre infrastructure in order to support both these and other digital services.
Microsoft, Amazon, Salesforce, and Google were the brands that stood out the most across the whole public cloud ecosystem. Adobe, Alibaba, Cisco, Dell, Digital Realty, IBM, Inspur, Oracle, SAP, and VMware were additional significant players. These businesses collectively generated 60% of all public cloud-related revenues.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.