Industry News
Global cloud market rebounds strongly for two consecutive quarters?
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Author : JIUZHOU
Update time : 2024-05-17 11:07:38
During the initial three months of 2024, worldwide corporations invested more than $76 billion in cloud infrastructure services. This figure indicates an increase of $13.5 billion, or 21%, relative to the same period in 2023. This signifies the second consecutive quarter of significant year-on-year growth.
Although to a lesser extent. But some economic, monetary and political headwinds remain. However, the underlying power of the market more than makes up for these limitations. And in large part due to the impact of generative AI technologies and services.
Currently, most major cloud providers have announced first-quarter earnings data. Cloud infrastructure services revenue in the quarter was $76.5 billion, according to estimates from a research firm.
Revenue in the past 12 months reached $283 billion. In terms of geography, the cloud market is experiencing robust growth across all global regions. The Asia-Pacific region had the highest growth in terms of money. India, Japan, Australia, and South Korea all experienced growth rates of 25% or higher.
The report states that in late 2022 and most of 2023, the cloud market will experience unusually low growth rates due to external factors. J, the chief analyst of the research institution, said:
"We expected growth rates to rebound, and that's what we're seeing now."
"Now a $300 billion market growing at 21% annually"
"There will be no return to the growth rates seen before 2022."
"We will see the market continue to expand significantly."
“Forecast: Over the next four years, this number will double.”
Although to a lesser extent. But some economic, monetary and political headwinds remain. However, the underlying power of the market more than makes up for these limitations. And in large part due to the impact of generative AI technologies and services.
Currently, most major cloud providers have announced first-quarter earnings data. Cloud infrastructure services revenue in the quarter was $76.5 billion, according to estimates from a research firm.
Revenue in the past 12 months reached $283 billion. In terms of geography, the cloud market is experiencing robust growth across all global regions. The Asia-Pacific region had the highest growth in terms of money. India, Japan, Australia, and South Korea all experienced growth rates of 25% or higher.
The report states that in late 2022 and most of 2023, the cloud market will experience unusually low growth rates due to external factors. J, the chief analyst of the research institution, said:
"We expected growth rates to rebound, and that's what we're seeing now."
"Now a $300 billion market growing at 21% annually"
"There will be no return to the growth rates seen before 2022."
"We will see the market continue to expand significantly."
“Forecast: Over the next four years, this number will double.”
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