Spending on cloud infrastructure services continues to rise

Data from Synergy Research Group reveals that Q2 2024 business spending on cloud infrastructure services totalled $79 billion worldwide, an increase of $14.1 billion or 22% compared to the same period in 2023. This is the third consecutive quarter in which the annual growth rate has been 20 per cent or more, with Generative AI being one of the factors driving the market.

Amazon maintains its strong lead in market share with 32 per cent, followed by Microsoft with 23 per cent and Google with 12 per cent. But the companies with the highest growth rates in the quarter, year-on-year, were Oracle, Huawei, Snowflake and MongoDB. Oracle overtook IBM this quarter and is now tied with Salesforce as the fifth largest cloud provider.

Synergy estimates that quarterly revenues from cloud infrastructure services (including IaaS, PaaS and hosted private cloud services) were $79.1 billion, with twelve-month revenues reaching $297 billion. Public IaaS and PaaS services account for the lion’s share of the market and grew by 23 per cent in Q2. The dominance of the main cloud providers is even more pronounced in the public cloud, where the top three account for 73 per cent of the market. Geographically too, the cloud market continues to grow strongly in all regions of the world.

‘As the market progresses further and further, the competitive dynamic continues to evolve,’ commented John Dinsdale, chief analyst at Synergy Research Group.

Os dados batem com os da lista “Cloud 100 de 2024“, da Bessemer, Forbes e Salesforce Ventures, que estabelece vários recordes, demonstrando a resiliência das empresas privadas do mercado SaaS em navegar nestes tempos incertos. O valor somado das 100 startups listadas atingiu US$ 820 bilhões este ano, um aumento de +25% ano a ano e o maior valor já registrado Vários fatores impulsionaram essa recuperação impressionante. As empresas de IA impulsionaram um salto enorme no valor de mercado de mais de +US$ 100 bilhões.

As empresas souberam ajustar seus modelos de negócio para enfrentar as turbulências macroeconômicas. Resultado: o tempo médio que uma empresa da Cloud 100 levou para atingir o status Centaur — ultrapassando US$ 100 milhões em receita recorrente anual (ARR) — diminuiu consistentemente para 7,8 anos. Espera-se que 97% das empresas atinjam US$ 100 milhões de ARR até o final do ano.