GITNUXREPORT 2026

Cloud Computing Industry Statistics

The cloud computing market is rapidly growing across all service models and global regions.

Jannik Lindner

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: Feb 13, 2026

Our Commitment to Accuracy

Rigorous fact-checking · Reputable sources · Regular updatesLearn more

Statistic 1

Organizations estimate that 28% of their cloud spend is wasted

Statistic 2

Controlling cloud costs is the #1 challenge for 82% of enterprises

Statistic 3

Cloud spend exceeds budget by an average of 13% for mid-market companies

Statistic 4

$17.6 billion in cloud spend will be wasted on idle resources in 2024

Statistic 5

Cloud hosting costs for generative AI models are 10x higher than traditional models

Statistic 6

Reserved instances and savings plans are used by 54% of AWS customers to save money

Statistic 7

Cloud bill complexity is cited as a major barrier by 37% of IT managers

Statistic 8

The average monthly cloud bill for a Series B startup is $25,000

Statistic 9

Organizations using FinOps tools reduced cloud waste by 15% on average

Statistic 10

42% of cloud users find "unallocated costs" (shared services) difficult to manage

Statistic 11

Global spending on cloud-native security tools is set to grow 24% in 2024

Statistic 12

Egress cost waivers by major clouds could save independent vendors up to $500M annually

Statistic 13

31% of companies are considering cloud repatriation to reduce long-term costs

Statistic 14

Public cloud storage is 20% cheaper than on-prem storage over a 5-year TCO

Statistic 15

Cloud computing can reduce enterprise IT energy costs by up to 87%

Statistic 16

The average hourly rate for a cloud architect is $120-$180 in the US

Statistic 17

Labor costs account for 50% of the total budget in cloud migration projects

Statistic 18

Enterprises using auto-scaling save an average of 22% on compute costs

Statistic 19

Managed MongoDB (Atlas) reduces OpEx by 40% compared to self-managed cloud VMs

Statistic 20

Multi-cloud networking solutions added 12% to the average cloud budget in 2023

Statistic 21

Data egress fees from AWS to the internet can cost up to $0.09 per GB

Statistic 22

60% of IT leaders prioritize ROI over lower entry costs when choosing cloud vendors

Statistic 23

Training staff on cloud technologies costs enterprises $3,500 per head annually

Statistic 24

Government cloud spending is expected to grow 17% due to modernization mandates

Statistic 25

25% of cloud budgets are lost to "Shadow IT" (unauthorized cloud usage)

Statistic 26

Companies using cloud-native monitoring save 30% in troubleshooting time

Statistic 27

Cloud migration can result in a 30-50% reduction in TCO for legacy app hosting

Statistic 28

Subscription price hikes for SaaS averaged 12% in 2023

Statistic 29

Investing in cloud automation has a payback period of less than 12 months for 65% of firms

Statistic 30

Data transfer between cloud availability zones costs $0.01 per GB on average

Statistic 31

32% of companies spend $12 million or more annually on public cloud

Statistic 32

The global public cloud services market is projected to reach $678.8 billion in 2024

Statistic 33

Infrastructure-as-a-Service (IaaS) spending is expected to grow by 26.6% in 2024

Statistic 34

Platform-as-a-Service (PaaS) spending is forecast to reach $176.5 billion in 2024

Statistic 35

Software-as-a-Service (SaaS) remains the largest market segment with a projected $244 billion in spending for 2024

Statistic 36

Desktop-as-a-Service (DaaS) is expected to see $3.2 billion in spending in 2024

Statistic 37

Cloud Management and Security Services spending is forecasted at $42.6 billion for 2024

Statistic 38

By 2027, more than 70% of enterprises will use industry cloud platforms to accelerate business initiatives

Statistic 39

The global hybrid cloud market was valued at $129 billion in 2023

Statistic 40

The retail cloud market size is projected to grow from $53.2 billion in 2023 to $178.4 billion by 2028

Statistic 41

The annual growth rate (CAGR) of the retail cloud market is estimated at 27.4%

Statistic 42

The cloud computing market in APAC is expected to grow at a CAGR of 15.6% through 2028

Statistic 43

Healthcare cloud computing market is expected to reach $90.2 billion by 2027

Statistic 44

The edge computing market is projected to reach $155.9 billion by 2030

Statistic 45

North America held a revenue share of 43.1% in the edge computing market in 2023

Statistic 46

The cloud gaming market is expected to grow at a CAGR of 45.8% from 2023 to 2030

Statistic 47

Managed cloud services market size is estimated to be $106.7 billion in 2023

Statistic 48

The serverless architecture market is projected to grow from $12.4 billion in 2023 to $40.7 billion by 2028

Statistic 49

Multi-cloud management market is expected to grow from $9.2 billion in 2023 to $32.4 billion by 2028

Statistic 50

The government cloud market size is projected to reach $118.5 billion by 2032

Statistic 51

Cloud-based ERP market is expected to reach $130 billion by 2032

Statistic 52

Large enterprises segment accounted for over 65% of the total cloud revenue share in 2023

Statistic 53

The BFSI sector is the largest vertical adopter of cloud, representing 20.3% of market share

Statistic 54

Disaster Recovery-as-a-Service (DRaaS) market is projected to hit $25.4 billion by 2028

Statistic 55

SME cloud adoption is expected to grow at a CAGR of 18% through 2030

Statistic 56

Cloud storage market size is anticipated to grow by $108.5 billion from 2023 to 2027

Statistic 57

The cloud office recruitment market is growing at a rate of 12.5% annually

Statistic 58

Public cloud penetration in the UK has reached 89% among large businesses

Statistic 59

Global spending on cloud infrastructure services reached $73.5 billion in Q3 2023 alone

Statistic 60

The generative AI contribution to cloud market growth is projected to be 3% of total cloud spend in 2024

Statistic 61

China's cloud infrastructure market is growing at 12% YoY, reaching $9.2 billion in Q3 2023

Statistic 62

Cloud security is the top concern for 79% of IT professionals

Statistic 63

45% of data breaches are cloud-based

Statistic 64

Misconfiguration remains the #1 cause of cloud data breaches

Statistic 65

80% of organizations have experienced at least one cloud security incident in the last year

Statistic 66

Cloud-based malware increased by 68% in 2023

Statistic 67

65% of organizations use Cloud Security Posture Management (CSPM) tools

Statistic 68

The average cost of a cloud-based data breach is $4.45 million

Statistic 69

56% of IT leaders find it more difficult to manage security in the cloud than on-premises

Statistic 70

Only 35% of organizations have a "Zero Trust" strategy for their cloud environment

Statistic 71

72% of companies believe the "Shared Responsibility Model" is confusing

Statistic 72

95% of cloud security failures are predicted to be the customer's fault through 2025

Statistic 73

38% of organizations list "Meeting Compliance Requirements" as a top cloud challenge

Statistic 74

Ransomware attacks on cloud-stored data rose by 40% year-over-year

Statistic 75

51% of organizations lack the necessary skills to manage cloud security

Statistic 76

Cloud Access Security Brokers (CASB) are used by 42% of enterprises

Statistic 77

27% of organizations have reported a security incident involving a serverless function

Statistic 78

API-based attacks in the cloud grew by 400% in 2023

Statistic 79

1 in 10 cloud buckets (storage) are left open to the public internet

Statistic 80

Encryption is used for only 45% of sensitive data stored in the cloud

Statistic 81

Multi-factor authentication (MFA) adoption for cloud admins has reached 81%

Statistic 82

59% of security professionals say "visibility into cloud data" is their biggest gap

Statistic 83

Supply chain attacks affecting cloud services increased by 300%

Statistic 84

40% of SaaS applications are "unmanaged" by IT departments

Statistic 85

Cloud-native application protection platforms (CNAPP) saw a 42% rise in adoption

Statistic 86

23% of companies are using confidential computing to protect data in use

Statistic 87

Identity and Access Management (IAM) misconfigurations are found in 75% of cloud audits

Statistic 88

The average time to detect a cloud breach is 207 days

Statistic 89

Sovereign cloud services are a priority for 60% of European government agencies

Statistic 90

92% of cloud security specialists believe AI will be used for both attacking and defending clouds

Statistic 91

GDPR compliance remains the most expensive cloud regulatory requirement for US firms

Statistic 92

89% of organizations have a multi-cloud strategy

Statistic 93

73% of enterprises indicate they are using a hybrid cloud approach

Statistic 94

On average, organizations use 2.9 public clouds and 2.5 private clouds

Statistic 95

40% of organizations’ workloads are currently in a public cloud

Statistic 96

58% of organizations use Infrastructure-as-Code (IaC) tools to manage cloud resources

Statistic 97

Container adoption has reached 65% across enterprise cloud users

Statistic 98

Kubernetes is used by 54% of organizations running containers in the cloud

Statistic 99

70% of organizations cite "optimizing existing use of cloud" as their top initiative

Statistic 100

Serverless computing usage grew by 20% year-over-year among enterprise developers

Statistic 101

Organizations are running 34% of their workloads on Microsoft Azure and 32% on AWS

Statistic 102

Over 50% of enterprise data is now stored in the cloud

Statistic 103

80% of organizations are seeing a rise in cloud-native application development

Statistic 104

44% of companies use cloud-managed database services for most of their data needs

Statistic 105

Public cloud usage for high-performance computing (HPC) increased by 15% in 2023

Statistic 106

SaaS usage averages 130 apps per company in large enterprises

Statistic 107

ARM-based instances are now used by 32% of cloud customers to reduce costs

Statistic 108

27% of organizations use edge computing as part of their cloud strategy

Statistic 109

FinOps (cloud financial management) has been adopted by 61% of large organizations

Statistic 110

48% of organizations use machine learning cloud services regularly

Statistic 111

The average number of cloud security tools used by a single company is 12

Statistic 112

72% of companies say cloud-based collaboration tools are essential for remote work

Statistic 113

Use of AWS Lambda has reached a 70% adoption rate among AWS users

Statistic 114

Python remains the top language for cloud-native development (45% of projects)

Statistic 115

Low-code/No-code cloud platforms are used by 41% of companies for internal tools

Statistic 116

39% of organizations use Google Cloud Platform for their primary or secondary cloud

Statistic 117

API traffic represents 83% of all web traffic hitting cloud infrastructures

Statistic 118

Microservices architecture is used in 79% of new cloud-native deployments

Statistic 119

Data egress fees account for an average of 6% of total cloud spend for large companies

Statistic 120

55% of organizations use a "cloud-first" approach for new software projects

Statistic 121

The use of spot instances for non-critical workloads has increased by 18% YoY

Statistic 122

Amazon Web Services (AWS) held a 31% market share of global cloud infrastructure spend in Q3 2023

Statistic 123

Microsoft Azure and other cloud services revenue grew 30% in the most recent fiscal quarter

Statistic 124

Google Cloud's market share grew to 10% of total infrastructure spending in 2023

Statistic 125

Alibaba Cloud remains the top provider in China with a 39% market share

Statistic 126

Oracle Cloud Infrastructure (OCI) reported a 52% revenue growth in Q2 FY24

Statistic 127

Huawei Cloud is the second-largest provider in China with a 19% share

Statistic 128

IBM Cloud revenue reached $23 billion over the last 12-month period

Statistic 129

Salesforce dominates the CRM SaaS market with over 23% market share

Statistic 130

Tencent Cloud holds a 15% share of the Chinese cloud infrastructure market

Statistic 131

AWS, Azure, and Google Cloud collectively account for 65% of global cloud spending

Statistic 132

ServiceNow's subscription revenue grew 27% year-over-year in 2023

Statistic 133

Adobe's Creative Cloud revenue grew 13% to reach $11.52 billion in fiscal 2023

Statistic 134

Snowflake reported a 34% product revenue growth for Q3 FY24

Statistic 135

SAP's cloud revenue grew 23% (at constant currencies) in FY2023

Statistic 136

Workday reported subscription revenue growth of 18.1% for its fiscal Q3 2024

Statistic 137

Zoom recorded a revenue of $1.137 billion in Q3 FY24, representing 3.2% growth

Statistic 138

Datadog's revenue grew 25% year-over-year in Q3 2023

Statistic 139

Akamai's cloud computing revenue increased 20% in Q3 2023

Statistic 140

Cloudflare revenue increased 32% year-over-year to $335.6 million in Q3 2023

Statistic 141

DigitalOcean reported revenue of $177 million for Q3 2023, up 16% year-over-year

Statistic 142

VMware's subscription and SaaS revenue made up 44% of total revenue in its final independent quarter

Statistic 143

Rackspace Technology reported $732 million in revenue for Q3 2023, with focus on "Private Cloud"

Statistic 144

Splunk's Cloud revenue grew 26% year-over-year in Q3 2023, reaching $469 million

Statistic 145

Dropbox reached 18.17 million paying users in Q3 2023

Statistic 146

NetApp's hybrid cloud segment revenue was $1.32 billion in Q2 FY24

Statistic 147

Nutanix revenue increased 18% year-over-year to $511 million in Q1 FY24

Statistic 148

Teradata's cloud revenue grew 52% year-over-year in Q3 2023

Statistic 149

Box revenue for Q3 FY24 was $262 million, a 5% increase year-over-year

Statistic 150

Confluent (managed Kafka) revenue grew 32% year-over-year in Q3 2023

Statistic 151

MongoDB's Atlas (cloud) revenue grew 36% year-over-year, representing 66% of total revenue

1/151

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The cloud computing industry isn't just growing; it's exploding, with the global market projected to hit a staggering $678.8 billion in 2024 as businesses from every sector race to harness its transformative power.

Key Takeaways

The global public cloud services market is projected to reach $678.8 billion in 2024
Infrastructure-as-a-Service (IaaS) spending is expected to grow by 26.6% in 2024
Platform-as-a-Service (PaaS) spending is forecast to reach $176.5 billion in 2024
Amazon Web Services (AWS) held a 31% market share of global cloud infrastructure spend in Q3 2023
Microsoft Azure and other cloud services revenue grew 30% in the most recent fiscal quarter
Google Cloud's market share grew to 10% of total infrastructure spending in 2023
89% of organizations have a multi-cloud strategy
73% of enterprises indicate they are using a hybrid cloud approach
On average, organizations use 2.9 public clouds and 2.5 private clouds
Organizations estimate that 28% of their cloud spend is wasted
Controlling cloud costs is the #1 challenge for 82% of enterprises
Cloud spend exceeds budget by an average of 13% for mid-market companies
Cloud security is the top concern for 79% of IT professionals
45% of data breaches are cloud-based
Misconfiguration remains the #1 cause of cloud data breaches

The cloud computing market is rapidly growing across all service models and global regions.

Economics & Cost Management

Organizations estimate that 28% of their cloud spend is wasted
Controlling cloud costs is the #1 challenge for 82% of enterprises
Cloud spend exceeds budget by an average of 13% for mid-market companies
$17.6 billion in cloud spend will be wasted on idle resources in 2024
Cloud hosting costs for generative AI models are 10x higher than traditional models
Reserved instances and savings plans are used by 54% of AWS customers to save money
Cloud bill complexity is cited as a major barrier by 37% of IT managers
The average monthly cloud bill for a Series B startup is $25,000
Organizations using FinOps tools reduced cloud waste by 15% on average
42% of cloud users find "unallocated costs" (shared services) difficult to manage
Global spending on cloud-native security tools is set to grow 24% in 2024
Egress cost waivers by major clouds could save independent vendors up to $500M annually
31% of companies are considering cloud repatriation to reduce long-term costs
Public cloud storage is 20% cheaper than on-prem storage over a 5-year TCO
Cloud computing can reduce enterprise IT energy costs by up to 87%
The average hourly rate for a cloud architect is $120-$180 in the US
Labor costs account for 50% of the total budget in cloud migration projects
Enterprises using auto-scaling save an average of 22% on compute costs
Managed MongoDB (Atlas) reduces OpEx by 40% compared to self-managed cloud VMs
Multi-cloud networking solutions added 12% to the average cloud budget in 2023
Data egress fees from AWS to the internet can cost up to $0.09 per GB
60% of IT leaders prioritize ROI over lower entry costs when choosing cloud vendors
Training staff on cloud technologies costs enterprises $3,500 per head annually
Government cloud spending is expected to grow 17% due to modernization mandates
25% of cloud budgets are lost to "Shadow IT" (unauthorized cloud usage)
Companies using cloud-native monitoring save 30% in troubleshooting time
Cloud migration can result in a 30-50% reduction in TCO for legacy app hosting
Subscription price hikes for SaaS averaged 12% in 2023
Investing in cloud automation has a payback period of less than 12 months for 65% of firms
Data transfer between cloud availability zones costs $0.01 per GB on average
32% of companies spend $12 million or more annually on public cloud

Economics & Cost Management Interpretation

The cloud's great promise of endless scalability and savings is being hilariously undermined by a universal failure of arithmetic, where executives, drowning in bills as cryptic as they are colossal, are essentially funding a secret skunkworks for their own employees while paying a king's ransom to cool empty virtual servers.

Market Size & Growth

The global public cloud services market is projected to reach $678.8 billion in 2024
Infrastructure-as-a-Service (IaaS) spending is expected to grow by 26.6% in 2024
Platform-as-a-Service (PaaS) spending is forecast to reach $176.5 billion in 2024
Software-as-a-Service (SaaS) remains the largest market segment with a projected $244 billion in spending for 2024
Desktop-as-a-Service (DaaS) is expected to see $3.2 billion in spending in 2024
Cloud Management and Security Services spending is forecasted at $42.6 billion for 2024
By 2027, more than 70% of enterprises will use industry cloud platforms to accelerate business initiatives
The global hybrid cloud market was valued at $129 billion in 2023
The retail cloud market size is projected to grow from $53.2 billion in 2023 to $178.4 billion by 2028
The annual growth rate (CAGR) of the retail cloud market is estimated at 27.4%
The cloud computing market in APAC is expected to grow at a CAGR of 15.6% through 2028
Healthcare cloud computing market is expected to reach $90.2 billion by 2027
The edge computing market is projected to reach $155.9 billion by 2030
North America held a revenue share of 43.1% in the edge computing market in 2023
The cloud gaming market is expected to grow at a CAGR of 45.8% from 2023 to 2030
Managed cloud services market size is estimated to be $106.7 billion in 2023
The serverless architecture market is projected to grow from $12.4 billion in 2023 to $40.7 billion by 2028
Multi-cloud management market is expected to grow from $9.2 billion in 2023 to $32.4 billion by 2028
The government cloud market size is projected to reach $118.5 billion by 2032
Cloud-based ERP market is expected to reach $130 billion by 2032
Large enterprises segment accounted for over 65% of the total cloud revenue share in 2023
The BFSI sector is the largest vertical adopter of cloud, representing 20.3% of market share
Disaster Recovery-as-a-Service (DRaaS) market is projected to hit $25.4 billion by 2028
SME cloud adoption is expected to grow at a CAGR of 18% through 2030
Cloud storage market size is anticipated to grow by $108.5 billion from 2023 to 2027
The cloud office recruitment market is growing at a rate of 12.5% annually
Public cloud penetration in the UK has reached 89% among large businesses
Global spending on cloud infrastructure services reached $73.5 billion in Q3 2023 alone
The generative AI contribution to cloud market growth is projected to be 3% of total cloud spend in 2024
China's cloud infrastructure market is growing at 12% YoY, reaching $9.2 billion in Q3 2023

Market Size & Growth Interpretation

The cloud is now a trillion-dollar tectonic shift where everyone from banks to gamers are betting the farm on someone else's computer, proving that the sky is not the limit, with all due respect to gravity.

Security & Compliance

Cloud security is the top concern for 79% of IT professionals
45% of data breaches are cloud-based
Misconfiguration remains the #1 cause of cloud data breaches
80% of organizations have experienced at least one cloud security incident in the last year
Cloud-based malware increased by 68% in 2023
65% of organizations use Cloud Security Posture Management (CSPM) tools
The average cost of a cloud-based data breach is $4.45 million
56% of IT leaders find it more difficult to manage security in the cloud than on-premises
Only 35% of organizations have a "Zero Trust" strategy for their cloud environment
72% of companies believe the "Shared Responsibility Model" is confusing
95% of cloud security failures are predicted to be the customer's fault through 2025
38% of organizations list "Meeting Compliance Requirements" as a top cloud challenge
Ransomware attacks on cloud-stored data rose by 40% year-over-year
51% of organizations lack the necessary skills to manage cloud security
Cloud Access Security Brokers (CASB) are used by 42% of enterprises
27% of organizations have reported a security incident involving a serverless function
API-based attacks in the cloud grew by 400% in 2023
1 in 10 cloud buckets (storage) are left open to the public internet
Encryption is used for only 45% of sensitive data stored in the cloud
Multi-factor authentication (MFA) adoption for cloud admins has reached 81%
59% of security professionals say "visibility into cloud data" is their biggest gap
Supply chain attacks affecting cloud services increased by 300%
40% of SaaS applications are "unmanaged" by IT departments
Cloud-native application protection platforms (CNAPP) saw a 42% rise in adoption
23% of companies are using confidential computing to protect data in use
Identity and Access Management (IAM) misconfigurations are found in 75% of cloud audits
The average time to detect a cloud breach is 207 days
Sovereign cloud services are a priority for 60% of European government agencies
92% of cloud security specialists believe AI will be used for both attacking and defending clouds
GDPR compliance remains the most expensive cloud regulatory requirement for US firms

Security & Compliance Interpretation

The statistics paint a vivid picture: we have collectively moved our valuables to a digital fortress that many are still trying to figure out how to lock, all while a shockingly clever crowd of thieves is already inside handing out spare keys.

Usage & Infrastructure Trends

89% of organizations have a multi-cloud strategy
73% of enterprises indicate they are using a hybrid cloud approach
On average, organizations use 2.9 public clouds and 2.5 private clouds
40% of organizations’ workloads are currently in a public cloud
58% of organizations use Infrastructure-as-Code (IaC) tools to manage cloud resources
Container adoption has reached 65% across enterprise cloud users
Kubernetes is used by 54% of organizations running containers in the cloud
70% of organizations cite "optimizing existing use of cloud" as their top initiative
Serverless computing usage grew by 20% year-over-year among enterprise developers
Organizations are running 34% of their workloads on Microsoft Azure and 32% on AWS
Over 50% of enterprise data is now stored in the cloud
80% of organizations are seeing a rise in cloud-native application development
44% of companies use cloud-managed database services for most of their data needs
Public cloud usage for high-performance computing (HPC) increased by 15% in 2023
SaaS usage averages 130 apps per company in large enterprises
ARM-based instances are now used by 32% of cloud customers to reduce costs
27% of organizations use edge computing as part of their cloud strategy
FinOps (cloud financial management) has been adopted by 61% of large organizations
48% of organizations use machine learning cloud services regularly
The average number of cloud security tools used by a single company is 12
72% of companies say cloud-based collaboration tools are essential for remote work
Use of AWS Lambda has reached a 70% adoption rate among AWS users
Python remains the top language for cloud-native development (45% of projects)
Low-code/No-code cloud platforms are used by 41% of companies for internal tools
39% of organizations use Google Cloud Platform for their primary or secondary cloud
API traffic represents 83% of all web traffic hitting cloud infrastructures
Microservices architecture is used in 79% of new cloud-native deployments
Data egress fees account for an average of 6% of total cloud spend for large companies
55% of organizations use a "cloud-first" approach for new software projects
The use of spot instances for non-critical workloads has increased by 18% YoY

Usage & Infrastructure Trends Interpretation

Amidst a sprawling digital circus where businesses juggle an average of nearly three public and two-and-a-half private clouds, the collective mission has become strikingly clear: to desperately tame this self-inflicted complexity, optimize every penny with FinOps, and somehow, against all odds, secure the whole glorious mess.

Vendor Performance & Competition

Amazon Web Services (AWS) held a 31% market share of global cloud infrastructure spend in Q3 2023
Microsoft Azure and other cloud services revenue grew 30% in the most recent fiscal quarter
Google Cloud's market share grew to 10% of total infrastructure spending in 2023
Alibaba Cloud remains the top provider in China with a 39% market share
Oracle Cloud Infrastructure (OCI) reported a 52% revenue growth in Q2 FY24
Huawei Cloud is the second-largest provider in China with a 19% share
IBM Cloud revenue reached $23 billion over the last 12-month period
Salesforce dominates the CRM SaaS market with over 23% market share
Tencent Cloud holds a 15% share of the Chinese cloud infrastructure market
AWS, Azure, and Google Cloud collectively account for 65% of global cloud spending
ServiceNow's subscription revenue grew 27% year-over-year in 2023
Adobe's Creative Cloud revenue grew 13% to reach $11.52 billion in fiscal 2023
Snowflake reported a 34% product revenue growth for Q3 FY24
SAP's cloud revenue grew 23% (at constant currencies) in FY2023
Workday reported subscription revenue growth of 18.1% for its fiscal Q3 2024
Zoom recorded a revenue of $1.137 billion in Q3 FY24, representing 3.2% growth
Datadog's revenue grew 25% year-over-year in Q3 2023
Akamai's cloud computing revenue increased 20% in Q3 2023
Cloudflare revenue increased 32% year-over-year to $335.6 million in Q3 2023
DigitalOcean reported revenue of $177 million for Q3 2023, up 16% year-over-year
VMware's subscription and SaaS revenue made up 44% of total revenue in its final independent quarter
Rackspace Technology reported $732 million in revenue for Q3 2023, with focus on "Private Cloud"
Splunk's Cloud revenue grew 26% year-over-year in Q3 2023, reaching $469 million
Dropbox reached 18.17 million paying users in Q3 2023
NetApp's hybrid cloud segment revenue was $1.32 billion in Q2 FY24
Nutanix revenue increased 18% year-over-year to $511 million in Q1 FY24
Teradata's cloud revenue grew 52% year-over-year in Q3 2023
Box revenue for Q3 FY24 was $262 million, a 5% increase year-over-year
Confluent (managed Kafka) revenue grew 32% year-over-year in Q3 2023
MongoDB's Atlas (cloud) revenue grew 36% year-over-year, representing 66% of total revenue

Vendor Performance & Competition Interpretation

It seems everyone is sprinting for a piece of the cloud, but the race is really between Amazon's unshakeable empire, Microsoft's relentless charge, and the chasing pack who are growing fast by finding their own clever niches in the sky.