Enterprise spending on cloud infrastructure services reached $76 billion in Q1 2024, showing a 21 percent increase compared to the previous year. The big three - Amazon's AWS, Microsoft Azure, and Google Cloud - control 67 percent of the global cloud market, with Amazon leading at 31 percent.
Public cloud infrastructure and platform services (IaaS and PaaS) accounted for the majority of the $76.5 billion cloud revenues. The big three providers grew by 23 percent in Q1, while the total cloud market is estimated to be at $283 billion for the past 12 months.
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