Investing in Cloud Computing. Any Growth Left?

Just five companies in the world are worth more than a trillion dollars. Of those, four are tech firms, and three are the largest cloud computing providers in the world with a combined market share of around 65% – Amazon, Google, and Microsoft. Referred to as “hyperscalers,” they’re all experiencing tremendous growth while targeting an opportunity that’s expected to double in four years, topping a trillion dollars by 2026.

Hyperscalers are large cloud service providers, that can provide services such as computing and storage at enterprise scale.

Credit: Red Hat

The Growth of Cloud Computing

Google’s recent presentation on their cloud computing efforts shows just how much growth remains in public cloud computing spending. With just over $500 billion being spent on cloud computing in 2022, that number is expected to reach $1 trillion by 2026.

About half of the above opportunity represents cloud infrastructure services of the type being offered by hyperscalers. Consulting firm Canalys tells us, “for full-year 2022, total cloud infrastructure services spend grew 29% to US$247.1 billion, up from US$191.7 billion in 2021.” The th