Public cloud service and infrastructure markets, operator and vendor revenues surged 26 percent to total $126 billion during the first quarter of 2022.
New numbers freshly crunched by Synergy Research Group said the biggest growth was seen in IaaS and PaaS, with Q1 revenues jumping 36 percent to reach more than $44 billion.
In the other service segments, managed private cloud services, enterprise SaaS and CDN added another $54 billion in service revenues, having grown by an average 21 percent from last year.
Synergy Group found that to support both these and other digital services, public cloud providers splashed out $28 billion on building, leasing and equipping their datacentre infrastructure, which was up 20 per cent from Q1 2021.
Across the whole public cloud ecosystem, companies that featured the most prominently were Microsoft, Amazon, Salesforce and Google.
Other major players included Adobe, Alibaba, Cisco, Dell, Digital Realty, IBM, Inspur, Oracle, SAP and VMware.
Synergy Group chief analyst, John Dinsdale said: “Public cloud-related markets are typically growing at rates ranging from 15 percent to 40 percent per year, with PaaS and IaaS leading the charge. Looking out over the next five years the growth rates will inevitably tail off as these markets become ever-more massive, but we are still forecasting annual growth rates that are generally in the ten per cent to 30 percent range.”
“To enable cloud service markets to keep up with demand by doubling in size in the next three to four years, the major cloud providers need an ever larger footprint of hyperscale datacentres and more raw computing power, which then drives the markets for datacentre hardware and software.”
