United States Missing in the IMD List of Competitive Economies for 2024
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
Latest News
United States Missing in the IMD List of Competitive Economies for 2024
Globally, the economies are facing different scenarios in 2024. This is due to the changing dynamics of various sectors in the market. Along with that, the oil and gas industry's price fluctuations can be one of the reasons. A good economy demands…
Industrial Market Faces Drop in Demand for Copper and Nickel in 2024
Transition metals like copper and nickel are important in the industrial sector. Both of these metals contribute an excellent part in the energy market. Copper and nickel have important roles in the electrification process. Hence, it helps electric…
Digital Transformation Slows Down the Global Economy
Globally, the nations are facing downward momentum in their economic activities. The financial condition of advanced economies is declining rapidly in 2024. Surveys suggest that advanced economies are facing economic challenges due to various…
German Companies’ Joint Venture to Boost Large Scale Storage in 2024
The growing clean energy transition process is forcing companies to make significant decisions regarding the storage of clean energy. Germany's energy market surges in power with necessary steps towards uplifting clean energy. The increasing…
Consumers Behavior Makes Food and Beverage Companies World Leaders in FMCG Rankings
Fast moving consumer goods (FMCG) are the important goods that consumers use in their daily activities. These products are otherwise known as consumer-packaged goods, thus, they include a range of products, such as food and beverages, healthcare…
Aarti Dhapte
Team Lead - Research
