Cloud Computing Market Projected to Triple to $1.5 Trillion by 2030, With AWS Positioned for Faster Growth
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The cloud computing market is projected to grow to a $1.5 trillion opportunity by 2030. Amazon, Microsoft, and Alphabet currently control about 2/3 of the market.
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Cloud computing allows companies to easily scale computing power up and down as needed, making it preferable to owning data centers.
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AI workloads also benefit from the on-demand computing power of the cloud.
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If AWS maintains its 33% market share as the market grows, its revenue could triple to $256 billion by 2030.
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AWS growth slowed in 2022 due to customers optimizing spending, but that trend seems to be ending, positioning AWS for faster growth vs competitors in 2024.