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Plano synergy1/29/2024 ![]() Microsoft has been gaining slowly but steadily, and Google has reached 10% and so far is holding steady there. Amazon has owned a fairly steady third of the market for years, even as the pie has grown. What impact does all of that have on market share? Well, as it turns out, not that much. Is there really a march from the public cloud back on-prem? It’s fair to say that most industries would be happy with a growth rate that’s nearly 20% in this economic climate, but the cloud has been dealing with rates in the high 30s until recently, so it feels worse, and as we’ve learned, perception counts. “The law of large numbers pretty much dictates that growth rates must decline, but in absolute terms the market continues to grow at a healthy rate, driven by the fundamental benefits of cloud adoption,” Dinsdale said. He points out that the Chinese market has returned to growth and exchange rate pressure has started easing, contributing to growth in the EMEA and APAC regions. Clearly the relatively weak economy has caused some enterprises to more closely review spending on cloud services, but the market continues to grow despite those challenges,” Dinsdale wrote in a comment to the press. “There has been some angst about declining cloud growth rates, but the Q1 worldwide market value grew by more than $10 billion compared with the first quarter of 2022. ![]() Synergy’s chief analyst John Dinsdale says that overall the market remains solid, and we are starting to see a shift in some of the trends that have been contributing to the the downward growth. That doesn’t sound too terrible, except when you compare the numbers to last year when the market grew 32%.Ĭlearly we are still in a cost-cutting cycle and it’s having an impact on cloud infrastructure revenue growth, but Synergy Research reports that there are signs we could be coming out of the recent doldrums. ![]() That resulted in a quarter in which the cloud grew 19%, up $10 billion over last year to $63 billion. As expected, companies are continuing to cut back on their cloud spend where possible, as tech budgets continue to get careful scrutiny.
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