Research firm Canalys estimated that worldwide spending on cloud services in the June-ending quarter this year reached $62.3 billion, rising 33% from the same duration in the previous year.
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The growth was driven by demand for data analytics and machine learning, data center consolidation, application migration, cloud-native development and service delivery, Canalys noted.
“Most companies have gone beyond the initial step of moving a portion of their workloads to the cloud and are looking at migrating key services,” said Yi Zhang, research analyst in Canalys.
Amazon Web Services (AWS) was the leading cloud service provider in the June- quarter, followed by Microsoft Azure and Google.
These top three vendors, together accounted for 63% of global spending.
“The top cloud vendors are accelerating their partnerships with a variety of software companies to demonstrate a differentiated value proposition,” Zhang said.