5 Biggest Cloud Providers by Market Share in 2024

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1. Amazon.com, Inc

Market Share Q4 2023: 31%

In the fourth quarter of 2023, Amazon Web Services (AWS) exhibited stable financial performance, recording a revenue of $24.2 billion, with a 13% year-on-year growth. This revenue increase also confirmed AWS’s dominant position in the public cloud platform market, with a 31% share. The company’s strategic decision to extend the lifespan of server hardware from five to six years is also expected to yield operational benefits, as CFO Brian Olsavsky forecasts a $900 million boost to operating income in the first quarter of the fiscal year.

Despite its competitors experiencing a decline in stock value post-quarterly results, Amazon saw its shares increase, reflecting investor confidence in AWS’s performance. AWS’s relentless focus on innovation, particularly in areas like generative AI and large language models, positions the company for sustained growth. As the cloud services market continues to expand, AWS remains at the forefront. It is the biggest cloud provider by market share in 2024

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