Home Cloud Computing World public cloud companies revenues hit $315bn in first half of 2023

World public cloud companies revenues hit $315bn in first half of 2023

World public cloud companies revenues hit $315bn in first half of 2023


World public cloud companies revenues have been ticking over to the tune of 19.2% within the first half of 2023 with software program as a service (SaaS) representing the lion’s share however platform as a service (PaaS) the most important progress, in keeping with IDC.

The analyst agency launched figures from its Worldwide Semiannual Public Cloud Companies Tracker, which confirmed that public cloud companies income hit $315.5 billion (£248.1bn) for the primary half of 2023.

SaaS was break up into two buckets; the primary, centered round purposes, noticed whole income of $141.2bn, at an uptick of 15.8% 12 months on 12 months. Infrastructure as a service (IaaS) noticed first half 2023 revenues of $64.4bn at a progress fee of 16.9%, whereas PaaS had revenues of $56.8bn at an uptick of 27.7%.

Microsoft retains prime spot on the seller rankings throughout public cloud companies, with IDC assessing the Redmond large to have 17.1% share within the first half of 2023. Amazon Net Companies (AWS) holds 12.9% of the market – remembering its main dominance is primarily of the IaaS market – with Salesforce, Google and Oracle rounding off the highest 5. IDC famous that the highest 5 distributors seize greater than two fifths (41%) of whole revenues, with this place being ‘comparatively unchanged’ 12 months over 12 months.

Lara Greden, analysis director for platform as a service at IDC, stated the sturdy market progress for PaaS comes from a ‘massive ecosystem of distributors assembly buyer wants within the cloud.’

“The basics of cloud applied sciences and public cloud PaaS suppliers as strategic companions to enterprises and corporations of all sizes are evident as AI pervasiveness strengthens,” stated Greden. “Corporations proceed to speed up motion to and adoption of the cloud for modernisation and new, clever utility initiatives primarily based on all forms of information streams.”

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