COVID-19 Fails to Dent Aggressive Growth in Cloud Spending; Half of the Q1 Market Belongs to Amazon & Microsoft
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: GlobeNewswire
RENO, Nev., April 30, 2020 (GLOBE NEWSWIRE) -- New data from Synergy Research Group shows that Q1 spend on cloud infrastructure services reached $29 billion, up 37% from the first quarter of 2019. This was in line with the expected market growth rate and showed no meaningful negative impact as a result of the COVID-19 pandemic. Indeed, anecdotal evidence points to some COVID-19-related market tailwinds as additional enterprise workloads are pushed onto public clouds. Meanwhile Amazon growth continued to largely mirror overall market growth and its worldwide market share was 32% in the quarter. Growth at second-ranked Microsoft once again outpaced the overall market by over twenty percentage points and its market share has increased by almost three percentage points in the last four quarters, reaching 18%. Behind these two market leaders, Google, Alibaba and Tencent are substantially outpacing overall market growth and are gaining market share. All three saw revenues increase by 45%
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