AWS, Google, Microsoft battle over $76bn Q1 cloud market share

Here are the exact global cloud market share figures for AWS, Alibaba, Google Cloud, Microsoft and Salesforce for first quarter 2024 as the market increased to $76bn..

AWS, Google, Microsoft battle over $76bn Q1 cloud market share

The three largest cloud companies on the planet—Amazon Web Services, Microsoft and Google Cloud—continued to battle for global cloud market share leadership during the first quarter of 2024, as the market ballooned to a record $76bn.

"Amazon held steady relative to the prior quarter, while Microsoft and Google both saw a marginal increase," said John Dinsdale, a chief analyst at Synergy Research Group, in an email to CRN US. "All three saw their growth rates increase substantially in the last two quarters."

AWS, Google Cloud and Microsoft Azure—combined—accounted for a whopping 67 per cent share of the $76bn global cloud services market in Q1 2024, according to new data from IT market research firm Synergy.

Before breaking down the exact market share figures for the top five cloud leaders during the first three months of 2024—which were AWS, Alibaba, Google, Microsoft and Salesforce—let's take a quick look at the current cloud services market on a worldwide basis.

$76bn cloud market In Q1 2024, up $13.5bn

Enterprise spending on cloud companies' infrastructure services was well over $76bn during the first quarter of 2024. This represents an increase of $13.5 billion or 21 per cent year over year compared to Q1 2023.

"This was a really good quarter for the cloud market with growth rates bouncing back from the relative lows seen through much of 2023," Dinsdale said. Public infrastructure as-a-service (IaaS) and platform as-a-service (PaaS) services account for the bulk of the market, with that section growing 23 per cent in Q1 year over year.

"There are still some economic, currency and political headwinds. However, the underlying strength of the market is more than compensating for those constraints, aided in no small part by the impact of generative AI technology and services," he said.

Overall, Synergy Research Group is forecasting that the cloud market will continue to expand substantially over the next few years. "We are forecasting that it will double in size over the next four years," Dinsdale said.

Here are the current enterprise cloud services market share figures for AWS, Alibaba, Google, Microsoft and Salesforce that every partner, investor and customer should know in 2024.