Global cloud market grows 33% in Q3 2020 to $36.5 billion

The COVID-19 pandemic has affected almost every industry in some way or another. In most cases, the effect has been negative, but several sectors have benefited from the new remote working and learning norms -- not least of which is cloud computing. The increased dependence on this industry has resulted in a surge in revenues, and the worldwide cloud market grew 33% in Q3 2020 to US$36.5 billion, which was US$2.0 billion higher than the previous quarter and up US$9.0 billion year-on-year, according to Canalys data. A new surge of COVID-19 cases in the United States and Europe will continue this trend as social distancing measures are put back in place, meaning cloud will remain vital for sustaining business operations, remote working and learning, as well as customer engagement. The report found that Amazon Web Services (AWS) was the leading cloud service provider in Q3 2020, increasing its share of total spend from last quarter to 32%.