Nov, 2024 : Global Cloud Spending Reaches $84B in Q3, Fueled by AI

📅 November 7, 2024 - Global spending on cloud infrastructure services reached a record $84 billion in Q3 2024, representing a 23% increase over the same period in 2023, according to the latest data from Synergy Research Group. This marks a $15.7 billion jump in year-over-year spending, with growth steadily accelerating over the last four quarters, partly fueled by a rise in generative AI applications.

Despite ongoing political, economic, and financial challenges, the cloud services market is displaying robust resilience, with demand driving expenditure to unprecedented levels.

Among the major players, AWS retained its leading position with a global market share of 31%, while competitors Google and Microsoft [...][... Check source for end of article ...]

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