Public cloud service revenue jumps 19%, with Microsoft leading overall: IDC
Revenue for public cloud services for companies such as Microsoft, AWS, and Google increased 19% year over year in the first half of 2023 on the back of the increased adoption of AI and organizations' persistent interest in moving more and more resources to the cloud, according to tech market research and advisory company IDC.
Worldwide revenue for the public cloud services market reached $315.5 billion in the first half of 2023, according to new data compiled by IDC's Worldwide Semiannual Public Cloud Services Tracker. Last year revenue for the same period was $264.8 billion, while the market is expected to surpass $1 trillion by the end of 2027.