{"id":17754,"date":"2025-02-07T15:12:38","date_gmt":"2025-02-07T08:12:38","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=17754"},"modified":"2025-02-07T15:12:38","modified_gmt":"2025-02-07T08:12:38","slug":"cloud-market-jumped-to-330-billion-in-2024-genai-is-now-driving-half-of-the-growth","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=17754","title":{"rendered":"Cloud Market Jumped to $330 billion in 2024 – GenAI is Now Driving Half of the Growth"},"content":{"rendered":"\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

RENO, Nev.<\/span><\/span>, Feb. 7, 2025<\/span><\/span> \/PRNewswire\/ — New data from Synergy Research Group shows that Q4 enterprise spending on cloud infrastructure services was $91 billion<\/span> worldwide, up $17 billion<\/span> or 22% from the fourth quarter of 2023. The full-year 2024 market reach $330 billion<\/span>, up $60 billion<\/span> from 2023 and an increase of $102 billion<\/span> from 2022. It is notable that ChatGPT was launched at the end of 2022, and generative AI services and technology have helped to propel the market since then. Synergy data and analysis shows that generative AI has driven half of the market growth over the last two years, through a combination of new GenAI platform services, GPU as a service, and enhancements to a wide range of other cloud services.\u00a0In terms of competitive positioning, Amazon maintains a strong lead in the market though Microsoft and Google once again had\u00a0a\u00a0higher percentage\u00a0of\u00a0growth. Their Q4\u00a0worldwide market shares were 30%, 21% and 12% respectively. Among the tier two cloud providers, those with the highest year-on-year growth rates include CoreWeave, Oracle, Snowflake, Cloudflare and Databricks.\u00a0Notably, CoreWeave has now broken into the top twenty ranking of cloud providers thanks to its AI and GPU services.<\/p>\n

\"Cloud<\/a>
Cloud Services Growth<\/span> <\/div>\n

With most of the major cloud providers having now released their earnings data for Q4, Synergy estimates that quarterly cloud infrastructure service revenues (including IaaS, PaaS and hosted private cloud services) were $90<\/span>.6\u00a0billion, with full-year 2024 revenues reaching $330<\/span>.4\u00a0billion. Public IaaS and PaaS services account for the bulk of the market and those grew by 24% in Q4. The dominance of the major cloud providers is even more pronounced in public cloud, where the top three account for 68% of the market. Geographically, the cloud market continues to grow strongly in all regions of the world. When measured in local currencies the major countries with the strongest growth included Brazil<\/span>, Spain<\/span>, Italy<\/span>, India<\/span> and Japan<\/span>, all growing at rates above the worldwide average. The US remains by far the largest cloud market, with its scale far surpassing the whole APAC region. The US market grew by 23% in Q4. In Europe<\/span> the largest cloud markets are the UK and Germany<\/span>, but the big markets with the highest growth rates were Ireland<\/span>, Spain<\/span> and Italy<\/span>.<\/p>\n

“Q4 was another strong quarter for cloud services, helping to drive a full-year growth rate that was a full four percentage points higher than 2023. For such a big market that is an impressive acceleration of growth,” said John Dinsdale<\/span>, a Chief Analyst at Synergy Research Group. “How much of that was down to AI? ChatGPT was launched at the end of 2022 and helped to bolster service development through 2023 and then boost more aggressive market growth through 2024. Our assessment is that since ChatGPT was launched,\u00a0GenAI has been responsible for at least half of the increase in cloud service revenues. That has come from either newly launched GenAI\/GPU services or from AI-driven improvements to existing cloud services.”<\/p>\n

About\u00a0<\/b>Synergy Research Group<\/a><\/b><\/p>\n

Synergy Research Group provides quarterly market share analysis and forecasts for Communications and Cloud related industries. Our data and analysis is provided to clients through Synergy’s unique research SaaS platform, SIA\u2122, which enables intuitive access to complex and fast-moving data sets.<\/p>\n

Synergy’s data analytics and analysis have been widely recognized worldwide for over 25\u00a0years and are frequently used by global industry leaders, governments, and financial institutions.<\/p>\n

To speak to an analyst or to find out more about how to access Synergy’s in-depth market data, please contact Heather Gallo<\/span> @\u00a0<\/b>hgallo@srgresearch.com<\/a><\/b>\u00a0or at 775-785-3113.<\/b><\/p>\n

\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

RENO, Nev.<\/span><\/span>, Feb. 7, 2025<\/span><\/span> \/PRNewswire\/ — New data from Synergy Research Group shows that Q4 enterprise spending on cloud infrastructure services was $91 billion<\/span> worldwide, up $17 billion<\/span> or 22% from the fourth quarter of 2023. The full-year 2024 market reach $330 billion<\/span>, up $60 billion<\/span> from 2023 and an increase of $102 billion<\/span> from 2022. It is notable that ChatGPT was launched at the end of 2022, and generative AI services and technology have helped to propel the market since then. Synergy data and analysis shows that generative AI has driven half of the market growth over the last two years, through a combination of new GenAI platform services, GPU as a service, and enhancements to a wide range of other cloud services.\u00a0In terms of competitive positioning, Amazon maintains a strong lead in the market though Microsoft and Google once again had\u00a0a\u00a0higher percentage\u00a0of\u00a0growth. Their Q4\u00a0worldwide market shares were 30%, 21% and 12% respectively. Among the tier two cloud providers, those with the highest year-on-year growth rates include CoreWeave, Oracle, Snowflake, Cloudflare and Databricks.\u00a0Notably, CoreWeave has now broken into the top twenty ranking of cloud providers thanks to its AI and GPU services.<\/p>\n

\"Cloud<\/a>
Cloud Services Growth<\/span> <\/div>\n

With most of the major cloud providers having now released their earnings data for Q4, Synergy estimates that quarterly cloud infrastructure service revenues (including IaaS, PaaS and hosted private cloud services) were $90<\/span>.6\u00a0billion, with full-year 2024 revenues reaching $330<\/span>.4\u00a0billion. Public IaaS and PaaS services account for the bulk of the market and those grew by 24% in Q4. The dominance of the major cloud providers is even more pronounced in public cloud, where the top three account for 68% of the market. Geographically, the cloud market continues to grow strongly in all regions of the world. When measured in local currencies the major countries with the strongest growth included Brazil<\/span>, Spain<\/span>, Italy<\/span>, India<\/span> and Japan<\/span>, all growing at rates above the worldwide average. The US remains by far the largest cloud market, with its scale far surpassing the whole APAC region. The US market grew by 23% in Q4. In Europe<\/span> the largest cloud markets are the UK and Germany<\/span>, but the big markets with the highest growth rates were Ireland<\/span>, Spain<\/span> and Italy<\/span>.<\/p>\n

“Q4 was another strong quarter for cloud services, helping to drive a full-year growth rate that was a full four percentage points higher than 2023. For such a big market that is an impressive acceleration of growth,” said John Dinsdale<\/span>, a Chief Analyst at Synergy Research Group. “How much of that was down to AI? ChatGPT was launched at the end of 2022 and helped to bolster service development through 2023 and then boost more aggressive market growth through 2024. Our assessment is that since ChatGPT was launched,\u00a0GenAI has been responsible for at least half of the increase in cloud service revenues. That has come from either newly launched GenAI\/GPU services or from AI-driven improvements to existing cloud services.”<\/p>\n

About\u00a0<\/b>Synergy Research Group<\/a><\/b><\/p>\n

Synergy Research Group provides quarterly market share analysis and forecasts for Communications and Cloud related industries. Our data and analysis is provided to clients through Synergy’s unique research SaaS platform, SIA\u2122, which enables intuitive access to complex and fast-moving data sets.<\/p>\n

Synergy’s data analytics and analysis have been widely recognized worldwide for over 25\u00a0years and are frequently used by global industry leaders, governments, and financial institutions.<\/p>\n

To speak to an analyst or to find out more about how to access Synergy’s in-depth market data, please contact Heather Gallo<\/span> @\u00a0<\/b>hgallo@srgresearch.com<\/a><\/b>\u00a0or at 775-785-3113.<\/b><\/p>\n

\u00a0<\/p>\n

<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-17754","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cision-pr-newswire","category-cision-pr-newswire-en"],"_links":{"self":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/17754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17754"}],"version-history":[{"count":0,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/17754\/revisions"}],"wp:attachment":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}