Taps Coogan – May 28th, 2022

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The following article is reposted from Statista.com:

According to the Statista Technology Market Outlook 2022, U.S. revenues earned with public cloud computing services are expected to surpass $200 billion this year. That’s roughly six times the size of the next smaller market in China. By 2026, revenues are projected to rise to $323 billion in the U.S. and $90 billion in China.

Infrastructure-as-a-service accounts for more than half of U.S. sales. The segment consists of cloud-based IT services for storage and computing (e.g. large data). The largest providers here are Amazon Web Services, Microsoft Azure and Google. The second biggest stream of revenue is attributable to the platform-as-a-service area. This includes cloud-based IT services for operating systems, developer tools, database management and business analytics. Amazon Web Services, as well as Microsoft Azure, are the largest providers in this segment. Finally, software-as-a-service distributes ready-made software to consumers via a cloud application. Popular examples are newsletter software Mailchimp, document signing service DocuSign or office messenger Slack.

Other countries with a modestly strong cloud market are the UK, Germany and Japan, even though growth is expected to stay behind that of China. By 2026, the countries’ markets are expected to grow to a volume of $26.9 billion, $27.6 billion and $29.4 billion, respectively.

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