Digital Transformation Slows Down the Global Economy
Microsoft Dominates the Cloud Services in the First Quarter of 2023
By Aarti Dhapte , 28 August, 2023
In the first quarter of 2023, the cloud industry has shown highly expected results for top tech companies like Google, Amazon, and Microsoft, among others. The cloud services business has become productive.
Google Cloud's main target is providing solutions in industries, like retail, finance, and healthcare, among others. It is one of the critical drivers of Google Cloud's growth to achieve heights by providing solutions. Based on a survey report, Microsoft Azure and Amazon Web Service (AWS) generated about USD 80 billion in 2022 for their respective companies, Microsoft and Amazon. AWS is the dominant player in the cloud market, with a 32 percent share of the market in the first quarter of 2023 and generated USD 10.81 billion in revenue. The company's operating income has increased by 41 percent to USD 4.16 billion due to constant focus on innovation and expansion of product offerings. Machine learning is also a critical area of focus for AWS, with various tools and services of it in the first quarter of 2023.
Microsoft Azure places itself in the second position in the world with a 19 percent market share in the first quarter of 2023. It generated a revenue of about USD 4.2 billion, a 50 percent increase yearly. Microsoft Cloud's other products, like Dynamics 385 and LinkedIn, generated USD 17.7 billion in revenue in the first quarter of 2023, a 41 percent increase yearly. More focus on hybrid cloud solutions facilitates customers to get hold of both on-premises and cloud-based infrastructure. It is helpful for businesses with legacy systems or compliance as these could not wholly migrate to the cloud. Microsoft also aims at sustainability; hence, in the first quarter of 2023, the company said it would be the foremost one to provide 100 percent renewable energy to power its offices, data centers, and campuses by 2025. Also, Microsoft has gained about USD 34 billion in revenue between July 2021 and June 2022, significantly less than Amazon AWS for 2022.Cloud Provider Market Share Trend
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Aarti Dhapte
Team Lead - Research
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