Top-3 CSPs AWS, Microsoft Azure and Google Cloud jointly grew by 20% in Q3 2023

Market researcher Canalys reported that the global spending on cloud infrastructure services reached US$73.5 billion in Q3 2023, growing at 16% y-o-y . Canalys also finds In Q3 2023, the top three cloud service providers AWS, Microsoft Azure and Google Cloud jointly grew by 20%, slightly outpacing the overall market and accounting for 65% of total spending. Below are the further findings shared by Canalys: AWS mirrored its performance in the previous quarter, while Microsoft saw an uptick in its growth rate. Google Cloud, however, saw a drop in its rate in Q3 2023.
Cloud market showing signs of resilience – helped by growing interest in AI Despite enterprises continuing to optimize overall IT spending, the cloud market is beginning to show signs of resilience, helped in part by a growing interest in AI. While the broader market continues to grapple with the repercussions of cost-cutting behavior, the performance of the leading cloud vendors hints at a shift in the market dynamic. Growing demand for AI solutions is gradually offsetting the impact of reduced IT spending as enterprises begin to invest in cloud computing to support AI strategies. Top three vendors launch AI-focused partner programs Microsoft’s efforts to commercialize its AI products are gaining momentum, with the...