Global cloud infrastructure service spending reached $63.1 billion in Q3 2022: Canalys

Today, Canalys released a report saying that in the third quarter of 2022, global cloud infrastructure service spending reached 63.1 billion US dollars, a year-on-year increase of 13.8 billion US dollars, an annual increase of 28%.

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The report noted that the annual growth rate of spending on cloud services fell below 30% for the first time. In the third quarter of 2022, Amazon Cloud Technology (AWS), Microsoft Azure, and Google Cloud remained the top three vendors, accounting for 63% of global cloud spending, with a combined increase of 33%.

Alex Smith, vice president of Canalys, said that top cloud vendors will face rising costs and slowing revenue growth, which may lead to more conservative plans for 2023. Taking into account rising energy costs, leading cloud vendors are expected to increase their prices in Europe by 30% in the future.

Specifically, Amazon Cloud Technology is the leading cloud service provider in the third quarter of 2022, accounting for 32% of total spending, with an annual growth rate of 27%.

Additionally, Microsoft Azure grew 35% year over year in the quarter, taking second place with a 22% market share. Google Cloud’s growth accelerated again, achieving 48% growth, increasing its market share in the global cloud services market to 9%.