Huge Cloud Market Still Growing at 34% Per Year; Amazon, Microsoft & Google Now Account for 65% of the Total

New data from Synergy Research Group shows that Q1 enterprise spending on cloud infrastructure services was approaching $53 billion. That is up 34% from the first quarter of 2021, making it the eleventh time in twelve quarters that the year-on-year growth rate has been in the 34-40% range. As the vibrant cloud market continues to grow rapidly, Amazon continues to lead with its worldwide market share remaining at 33%. For the third consecutive quarter its annual growth came in above the growth of the overall market. Meanwhile Microsoft continues to gain almost two percentage points of market share per year while Google's annual market share gain is approaching one percentage point.