The worldwide infrastructure as a service (IaaS) market grew 29.7 per cent in 2022, to $120.3 billion, up from $92.8 billion in 2021, according to Gartner.
Amazon retained the top position in the IaaS market in 2022, followed by Microsoft, Alibaba, Google and Huawei.
Gartner VP analyst Sid Nag said that Cloud had been elevated from a technology disruptor to a business disruptor.
“IaaS is driving software-as-a-service (SaaS) and platform-as-a-service (PaaS) growth as buyers to continue to add more applications to the cloud and modernise existing ones.”
“IaaS growth in 2022 was stronger than expected, despite a slight softening in the fourth quarter as customers focused on using their previously committed capacity to its fullest potential,” added Nag.
“This is expected to continue until mid-2023 and is a natural outcome of the market’s maturity. We expect an acceleration in 2024, as there is still room for additional growth.”
In 2022, the top five IaaS providers accounted for over 80 per cent of the market. Amazon continued to lead the worldwide IaaS market with revenue of $48.1 billion and a 40 per cent market share.