Due to the global pandemic and the shift to remote work, the migration to cloud computing has accelerated in 2020. The global public cloud services market will grow by 6.3% in 2020 to $257.9 billion.
According to the research data analyzed and published by StockApps, Desktop as a Service (DaaS) is expected to grow the fastest, at 95.4% to reach $1.2 billion.
Software as a Service will remain the largest segment, growing to $104.7 billion while Infrastructure as a Service (IaaS) will grow by 13.4% to $50.4 billion.
Top Four Cloud Service Providers Grew a Collective 40% in Q3 2020
Based on a report by Canalys, the global cloud market grew by 33% year-over-year (YoY) to reach $36.5 billion during Q3 2020. There was an increase of $9 billion from the Q3 2019 total and $2 billion from Q2 2020.
The top four providers in the space, namely, Amazon, Microsoft, Google and Alibaba, grew 40% collectively during the period.
Amazon Web Services (AWS) took the lead with a 32% share, up from 31% in Q2 2020 but down from 33% in Q3 2019. Compared to Q3 2019, its cloud business grew by $2.6 billion. Total AWS revenue for Q3 2020 grew by 29% reaching $11.6 billion.
Microsoft was second with a 19% market share up from 17% in Q3 2019. Microsoft Azure sales for the period rose by 48% YoY. By the end of Q3 2020, Microsoft’s cloud revenue annual run rate was almost $61 billion.
Google was the third largest cloud service provider with a 7% market share. Its market share increased from 6% in Q3 2019 and its revenue shot up by 44.7% to $3.4 billion in Q3 2020.
Alibaba took the fourth spot globally while leading in China as well as the APAC region. It had a 6% market share up from 5% in Q3 2019. Alibaba Cloud had a 40.1% market share in China’s IaaS market in Q2 2020. Huawei Cloud was second with 15.5% and Tencent Cloud was third with 15.1%.