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Global cloud services spend reaches $62.3 billion in Q2, 2022: Canalys

Canalys released a report that in the second quarter of 2022, cloud infrastructure services will remain in high demand. Global cloud spending rose 33% year over year to $62.3 billion, driven by market demand for data analytics and machine learning, data center consolidation, application migration, cloud-native development, and service delivery.

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Canalys data shows that global cloud spending is more than $6 billion higher than the previous quarter and $15 billion higher than the second quarter of 2021. In the second quarter of 2022, the top three global cloud spending will be dominated by Amazon Cloud Technology, Microsoft Azure, and Google Cloud.

The three giants together accounted for 63% of global cloud spending in the second quarter of 2022, with a combined growth of as much as 42%. Specifically, in the second quarter of 2022, Amazon Cloud Technology accounted for 31% of total cloud infrastructure services spending, with an annual growth rate of 39%, leading the market and ranking first.

In addition, the Azure cloud service provider had a 24% market share in the quarter and was second with an annual growth rate of 40%. Google Cloud grew by 45%, with an 8% market share.

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