In this piece, we will take a look at the top 20 cloud computing companies in USA. For more companies, head on over to Top 5 Cloud Computing Companies in USA.
Cloud computing is one of the hottest buzzwords in the tech market today. But where did this word come from? Some accounts believe that the word dates back to 2006, when the big tech companies such as Amazon.com, Inc. (NASDAQ:AMZN) and Alphabet Inc. (NASDAQ:GOOG), Google at that time, began using “cloud computing” to define a new segment of computer software services and file management across the Web.
According to the MIT Technology Review, the term “cloud computing” was first used in 1996 at the offices of Compaq Computer, when tech executives were designing the future of the internet, calling it “cloud computing.” Nevertheless, the world got to know more about this technology when companies like Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), International Business Machines Corporation (NYSE:IBM), and Alphabet Inc. (NASDAQ:GOOG) began to push cloud computing efforts. One of the first articles covered on cloud computing was on November 15, 2007, when The New York Times reported the headline “I.B.M. to Push ‘Cloud Computing,’ Using Data From Afar.” The article addressed the beginning of internet-based supercomputing.
Market Outlook
Cloud computing is one of the largest segments in IT and it continues to grow considering the increasing demand for cloud products and services across industries, institutions, companies, and governments. The US remains a prominent market, with some of the biggest cloud computing companies in the world operating in the region. The current economic circumstances have created a rift in cloud spending, but the market continues to grow at a healthy rate despite short-term market disruptions.
On August 3, Synergy Research Group posted the data of the cloud computing enterprise spending for the second quarter of 2023. During Q2 2023, the global enterprise spending on cloud infrastructure services was around $65 billion, up by $10 billion year over year. This marks the third consecutive quarter in which the cloud market spending grew by $10 billion.
According to Gartner, global IT spending is forecasted to reach $4.7 trillion in 2023, a rise of 4.3% from 2022. Despite the uncertainty in the market due to economic disruption, the cloud computing industry continues to remain resilient. In 2023, the global end-user spending on public cloud services is estimated to grow by 20.7% from 2022-levels to $591.8 billion. Gartner has also projected that global public cloud services will grow by 20.1% in 2023, compared to 2022.
USA Cloud Computing Companies by Market Share
The US has the largest cloud computing market compared to the rest of the world. According to Fortune Business Insights, the cloud computing market size of North America stood at $401.49 billion in 2022, while the global cloud computing market was reported at $569.31 billion in 2022. This makes North America’s cloud computing market share amount to 70.52%, compared to the rest of the world, in 2022.
As per Synergy Research Group, Amazon.com, Inc. (NASDAQ:AMZN) continues to dominate the market with its long-standing market share of 32-34%, as of Q2 2023. Microsoft Corporation (NASDAQ:MSFT) and Alphabet Inc. (NASDAQ:GOOG) follow Amazon.com, Inc. (NASDAQ:AMZN) with a market share of 22% and 11%, respectively. These three tech giants accounted for an aggregate 65% of the global market share in Q2 2023. The rest of the companies that had the highest year over year growth in Q2 2023 include Oracle Corporation (NYSE:ORCL), Snowflake Inc. (NYSE:SNOW), and VMware, Inc. (NYSE:VMW), among others. These companies are some of the biggest cloud providers by market share in the world.
Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG) were the initial companies that engineered cloud computing and today they lead the market. Amazon.com, Inc. (NASDAQ:AMZN) operates in the cloud computing segment through its subsidiary, Amazon Web Services (AWS). Microsoft Corporation (NASDAQ:MSFT) has Microsoft Azure which is its cloud application that offers cloud management services. Alphabet Inc. (NASDAQ:GOOG) operates the Google Cloud Platform (GCP).
These tech giants are working on embedding generative AI with their cloud service platforms to enhance their cloud offerings. On September 25, Amazon.com, Inc. (NASDAQ:AMZN) announced that it has made a strategic collaboration with Anthropic, an AI firm, to expand Anthropic’s future foundation models and make them available for AWS customers. Amazon.com, Inc. (NASDAQ:AMZN) will invest almost $4 billion in Anthropic and have a minority stake in the AI company. In addition, Anthropic will utilize AWS Trainium and Inferentia chips to build and train its generative AI system.
Microsoft Corporation’s (NASDAQ:MSFT) Azure is using generative AI to build the latest cloud computing tools. On July 19, during the Microsoft Inspire 2023, the company announced that Azure Arc’s Extended Security Updates (ESU) will be available to support the migration and modernization of server environments for Windows Server 2012/2012 R2 and SQL Server. Users will now easily access ESUs using the Azure portal and deploy it on their systems.
Alphabet Inc. (NASDAQ:GOOG) is also progressing with generative AI in cloud computing. On September 2, Alphabet Inc. (NASDAQ:GOOG) updated regarding its developments during the Google Cloud Next 2023 held in San Francisco. Alphabet Inc.’s (NASDAQ:GOOG) main focus was generative AI, particularly Vertex AI and Duet AI being the highlights as they are coming up with new offerings in the cloud segment.
With the growing cloud market worldwide, these US tech giants continue to outperform the rest of the market players and bring innovations through their cloud platforms, adding more efficient cloud services using AI.
Copyright: melpomen / 123RF Stock Photo
Our Methodology
To find the top cloud computing companies in USA, we started by listing down all publicly traded firms that provide cloud computing products and services. We took the top 20 cloud computing companies in USA with the highest market capitalization, as of September 28. The companies are listed in ascending order of their market caps.
We ranked companies based on market capitalization as all the companies on our list are public companies and it elaborates their total worth in the market. We have also mentioned the revenue of the companies to give a more objective view of the listings. We took the revenue from Yahoo Finance for the trailing twelve months (the latest 12 months). Without further ado, let’s take a look at the top 20 cloud computing companies in USA.
Note: We have added Atlassian Corporation (NASDAQ:TEAM), an Australian company, to our list as it is domiciled in Delaware, USA.
Top 20 Cloud Computing Companies in USA
20. Splunk Inc. (NASDAQ:SPLK)
Market Capitalization (September 28, 2023): $24.70 Billion
Splunk Inc. (NASDAQ:SPLK) is headquartered in San Francisco, California. The company offers security and application development cloud platforms. Splunk Inc. (NASDAQ:SPLK) generated a revenue of $3.84 billion for the trailing twelve-month period ended July 31, 2023. Ranked 20th on our list, Splunk Inc. (NASDAQ:SPLK) makes it to our list of the top 20 cloud computing companies in USA.
The 10 cloud computing stocks to watch as the AI arms race is underway include Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG).
19. Veeva Systems Inc. (NYSE:VEEV)
Market Capitalization (September 28, 2023): $32.42 Billion
Veeva Systems Inc. (NYSE:VEEV) is a cloud software firm that offers its services in the healthcare industry. The company provides services through its customer relationship management and analytics software. Veeva Systems Inc. (NYSE:VEEV) has reported a revenue of $2.23 billion for the 12 months that ended July 31, 2023. Veeva Systems Inc. (NYSE:VEEV) ranks among the top 20 cloud computing companies in USA.
18. Autodesk, Inc. (NASDAQ:ADSK)
Market Capitalization (September 28, 2023): $43.24 Billion
Autodesk, Inc. (NASDAQ:ADSK) is based in San Francisco, California, as the company serves via its cloud platform that enables global teams to collaborate with each other. The cloud computing firm made $5.21 billion in revenue during the last 12 months that ended July 31, 2023. Autodesk, Inc. (NASDAQ:ADSK) is ranked 18th on our list of the top 20 cloud computing companies in USA.
17. Snowflake Inc. (NYSE:SNOW)
Market Capitalization (September 28, 2023): $48.63 Billion
Founded in 2012, Snowflake Inc. (NYSE:SNOW) specializes in data cloud services and provides cloud-based data storage and analytics services to its customers. With a revenue of $2.44 billion in the trailing twelve months that ended July 31, 2023, Snowflake Inc. (NYSE:SNOW) ranks among the top 20 cloud computing companies in USA.
16. Atlassian Corporation (NASDAQ:TEAM)
Market Capitalization (September 28, 2023): $50.83 Billion
Domiciled in Delaware, U.S., Atlassian Corporation (NASDAQ:TEAM) is an Australian software company that offers cloud services through its Jira lineup of software. Atlassian Corporation (NASDAQ:TEAM) has made $3.53 billion in revenue in the last 12 months that ended June 30, 2023, and makes it to our list of the top 20 cloud computing companies in USA.
15. Workday, Inc. (NASDAQ:WDAY)
Market Capitalization (September 28, 2023): $60.47 Billion
Based in Pleasanton, California, Workday, Inc. (NASDAQ:WDAY) offers financial, HR management, and various other cloud computing applications. The company posted revenue of $6.71 billion in the trailing twelve months ended July 31, 2023. Ranked 15th on our list, Workday, Inc. (NASDAQ:WDAY) is among the top 20 cloud computing companies in USA.
14. VMware, Inc. (NYSE:VMW)
Market Capitalization (September 28, 2023): $71.25 Billion
VMware, Inc. (NYSE:VMW) is one of the leading cloud management and infrastructure firms operating out of Palo Alto, California. The virtual machine service provider generated revenue of $13.6 billion in the last 12 months that ended July 31, 2023. VMware, Inc. (NYSE:VMW) makes it to our list of the top 20 cloud computing companies in USA.
13. Automatic Data Processing, Inc. (NASDAQ:ADP)
Market Capitalization (September 28, 2023): $99.95 Billion
Based in Roseland, New Jersey, Automatic Data Processing, Inc. (NASDAQ:ADP) offers HR management cloud services. In the last 12 months that ended June 30, 2023, the cloud firm has reported revenue of $18.01 billion. Automatic Data Processing, Inc. (NASDAQ:ADP) ranks at 13th place among the top 20 cloud computing companies in USA.
12. ServiceNow, Inc. (NYSE:NOW)
Market Capitalization (September 28, 2023): $111.46 Billion
ServiceNow, Inc. (NYSE:NOW) plays a vital role in the cloud computing industry with its major offerings for automation and analytics. The company has made revenue of $8.01 billion in the trailing twelve months that ended June 30, 2023. ServiceNow, Inc. (NYSE:NOW) ranks among the top 20 cloud computing companies in USA.
11. International Business Machines Corporation (NYSE:IBM)
Market Capitalization (September 28, 2023): $130.42 Billion
The famous International Business Machines Corporation (NYSE:IBM) provides services in both IaaS and PaaS cloud segments. With a revenue of $60.5 billion in the last 12 months that ended June 30, 2023, International Business Machines Corporation (NYSE:IBM) is ranked 11th on our list of the top 20 cloud computing companies in USA.
10. Intuit Inc. (NASDAQ:INTU)
Market Capitalization (September 28, 2023): $142.43 Billion
Headquartered in Mountain View, California, Intuit Inc. (NASDAQ:INTU) provides different products to its consumers, allowing its customers to use cloud computing to manage accounts, finances, and payroll processing. Intuit Inc. (NASDAQ:INTU) generated revenue of $14.3 billion in the trailing twelve months period ended July 31, 2023, and ranks among the top 20 cloud computing companies in USA.
9. Intel Corporation (NASDAQ:INTC)
Market Capitalization (September 28, 2023): $144.94 Billion
Intel Corporation (NASDAQ:INTC) is involved in the hardware segment of cloud computing. Intel Corporation (NASDAQ:INTC) is one of the largest cloud companies in the world by revenue as it reported revenue of $54.04 billion in the last 12 months that ended June 30, 2023. Intel Corporation (NASDAQ:INTC) is ranked ninth on our list of the top 20 cloud computing companies in USA.
8. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Market Capitalization (September 28, 2023): $158.44 Billion
The famous semiconductor designer, Advanced Micro Devices, Inc. (NASDAQ:AMD) also offers solutions for businesses in private and public cloud environments. With a revenue of $21.8 billion in the trailing twelve months period ended June 30, 2023, Advanced Micro Devices, Inc. (NASDAQ:AMD) ranks among the top 20 cloud computing companies in USA.
7. Salesforce, Inc. (NYSE:CRM)
Market Capitalization (September 28, 2023): $197.25 Billion
Based out of San Francisco, California, Salesforce, Inc. (NYSE:CRM) is one of the pioneers of the cloud computing industry. In the last 12 months that ended July 31, 2023, Salesforce, Inc. (NYSE:CRM) reported a revenue of $33.07 billion and makes it to our list of the top 20 cloud computing companies in USA.
6. Adobe Inc. (NASDAQ:ADBE)
Market Capitalization (September 28, 2023): $229.08 Billion
Adobe Inc. (NASDAQ:ADBE) offers a wide range of creative cloud applications for its users. It is based in San Jose, California. With a revenue of $18.8 billion in the last 12 months that ended August 31, 2023, Adobe Inc. (NASDAQ:ADBE) ranks sixth on our list of the top 20 cloud computing companies in USA.
Tech giants that lead the race in the cloud computing market including Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG).
Click to continue reading and see Top 5 Cloud Computing Companies in USA.
Suggested Articles:
- 20 Most Innovative Companies in America
- 15 Biggest Agricultural Companies in the US
- 10 Worst Performing Currencies in Asia
Disclosure: None. Top 20 Cloud Computing Companies in USA is originally published on Insider Monkey.