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Gartner: Worldwide IaaS Market Revenue Grew 16.2% in 2023

The worldwide infrastructure as a service (IaaS) market grew 16.2% in 2023, to total $140 billion, up from $120 billion in 2022, according to Gartner, Inc. Amazon retained the No. 1 position in 2023, followed by Microsoft, Google, Alibaba and Huawei.

In 2023, the top five IaaS providers accounted for 82% of the market. Amazon continued to lead the worldwide IaaS sector with revenue of $54.6 billion and 39% market share, followed by Microsoft with 23% share. With growth of 26.3% in 2023, Google moved into the third position at 8.2% market share. Alibaba secured the fourth spot with 7.9% of the market.

Worldwide IaaS Public Cloud Services Market Share, 2022-2023 (Millions of U.S. Dollars)


Company
2023 Revenue2023 Market Share (%)2022 Revenue2022 Market Share (%)2022-2023 Growth (%)
Amazon54,64839.048,12339.913.6
Microsoft32,19723.025,88921.524.4
Google11,4548.29,0727.526.3
Alibaba Group11,1197.99,2227.720.6
Huawei5,9804.35,2484.413.9
Others24,60117.622,94319.07.2
Total139,999100120,49710016.2
Source: Gartner (July 2024)

GenAI is beginning to have an impact on the growth of cloud markets, although AI-driven growth in 2023 was small.

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