Global cloud spending surges to US$84 billion

Global enterprise spending on cloud infrastructure services reached US$84 billion in the third quarter of this year.

This represnts a 23 per cent, or US$15.7 billion, increase from the same period last year, new numbers from Synergy Research Group suggested.

The figures highlight the growing influence of generative AI on cloud services adoption.

Amazon maintained its market leadership with a 31 per cent share, followed by Microsoft at 20 per cent and Google at 13 per cent.

All three companies reported accelerated growth compared to the previous year.

Among smaller providers, Oracle, Huawei, Snowflake and Cloudflare demonstrated the strongest year-on-year growth rates.

The research highlighted significant regional variations in cloud adoption. India, Japan, Brazil and Italy showed above-average growth when measured in local currencies.

The United States remained the dominant market, with growth of 23 per cent in the third quarter, surpassing the entire Asia-Pacific region in scale.

European markets showed mixed performance, with Ireland, Italy and Spain emerging as the fastest-growing major markets, while the UK and Germany maintained their positions as the region's largest cloud markets.

Public infrastructure and platform services accounted for the majority of spending, growing by 24 per cent in the quarter.

The top three providers controlled 68 per cent of this segment.

"Over the last four quarters the market has grown by almost US$16 billion, while over the previous four quarters the respective figure was US$10 billion," John Dinsdale, chief analyst at Synergy Research Group said.

"Given the already massive size of the market, we are seeing an impressive surge in growth," Dinsdale added.

"While some market headwinds have diminished, it is undoubtedly AI that is a prime factor behind this increased growth rate," said Dinsdale.

Trailing twelve-month revenues reached US$313 billion, suggesting continued robust growth in the cloud infrastructure market despite economic uncertainties.