Cloud computing has revolutionized the way organizations access computing resources and build IT infrastructure. The public cloud market in particular has seen tremendous growth, exceeding $500 billion in 2022 according to Gartner. Leading this growth are some dominant players who have established themselves as leaders in various cloud services.
Based on latest annual revenue figures, here are the 10 largest public cloud companies in the world:
1. Amazon Web Services (AWS)
With 2022 revenue of $62 billion, Amazon Web Services is by far the largest cloud computing company globally. Launched in 2006, AWS pioneered the Infrastructure-as-a-Service (IaaS) model, allowing customers pay-as-you-go access to advanced computing capabilities.
Today, AWS offers over 200 cloud services spanning computing, storage, databases, analytics, networking, mobile, developer tools, management tools, IoT, security and more. Major AWS offerings include:
- EC2: Virtual servers available on-demand
- S3: Scalable object storage
- DynamoDB: Fully managed NoSQL database
- Lambda: Serverless compute to run code without managing servers
With a massive global infrastructure and the broadest feature set, AWS is the undisputed market leader. It holds over 30% market share and leads in key segments like IaaS, PaaS and cloud storage. Prominent AWS customers include Netflix, Airbnb, GE, and over 90% of Fortune 500 companies.
2. Microsoft Azure
The second largest cloud provider globally, Microsoft Azure earned $51 billion in 2022 revenue. Released in 2010, Azure provides integrated cloud computing services for building, deploying and managing applications through Microsoft data centers.
Some major Azure offerings:
- Virtual Machines: Windows/Linux VMs available on-demand
- Azure Storage: Massively scalable cloud storage
- SQL Database: Fully managed relational database service
- Azure Kubernetes Service (AKS): Managed Kubernetes for container deployments
A big advantage of Azure is its hybrid cloud capabilities, making it popular with enterprises. It offers powerful tools and seamless integration with existing on-premises infrastructure. With a current market share of over 20%, Azure serves 95% of Fortune 500 companies.
3. Google Cloud
The third largest player, Google Cloud Platform (GCP) earned $19 billion in 2022 revenue. Released in 2008, GCP offers a highly scalable IaaS/PaaS public cloud environment. It leverages Google‘s cutting-edge software infrastructure that runs popular consumer services like Search, Gmail, YouTube and more.
Some major GCP offerings are:
- Compute Engine: Scalable VMs running on Google infrastructure
- BigQuery: High-performance data warehousing/analytics
- Cloud Storage: Unified object storage
- Kubernetes Engine: Managed Kubernetes clusters
A key strength of GCP is its advanced services around AI, machine learning, data analytics and other emerging technologies powered by Google‘s extensive R&D. GCP holds under 10% market share but is rapidly gaining adoption from newer companies and in data/ML-heavy use cases.
4. Alibaba Cloud
The dominant player in China and Asia-Pacific region, Alibaba Cloud earned $12 billion revenue in 2022. It offers over 200 cloud services spanning computing, databases, storage, networking, security and more. Some key offerings are:
- Elastic Compute Service (ECS): Scalable VMs with pay-as-you-go billing
- Object Storage Service (OSS): Data storage for unstructured data
- Databases: Managed databases like Relational Database Service (RDS) and ApsaraDB
- Container Services: Orchestration and management for Docker containers
Built on Alibaba‘s own infrastructure, Aliyun services integrate natively with other Alibaba business systems. It holds over 40% market share in the Asia Pacific region and 10% worldwide, serving major Chinese corporations. International expansion is also a key strategy for Alibaba Cloud going forward.
5. IBM Cloud
With 2022 revenue of $21 billion, IBM offers a wide range of public, private and hybrid cloud solutions tailored for the enterprise market. IBM Cloud includes infrastructure services via the IBM Cloud platform and SaaS solutions aimed at specific workloads:
IBM Cloud Platform includes:
- Compute services
- Storage and data management
- Networking
- Security services
SaaS services include:
- Analytics and AI solutions
- Business applications
- Integration software
IBM Cloud stands out with its open and flexible approach, advanced data and AI capabilities, and strategic focus on hybrid cloud deployments. It holds a single-digit market share but leads in areas like hosted private cloud services.
6. Oracle Cloud
Oracle Cloud offers SaaS applications, PaaS and IaaS offerings targeted at existing Oracle customers. With 2022 revenue of $11 billion, key Oracle cloud solutions include:
- Infrastructure: Compute, storage and networking resources
- Autonomous Database: Self-driving, self-repairing database management
- SaaS Applications: Cloud suites for ERP, HCM, supply chain etc.
A competitive advantage for Oracle is its ability to integrate cloud software with existing on-prem Oracle systems. However, it still lags behind other hyperscale providers in breadth of services and scale. Oracle mostly caters to established Oracle customers transitioning legacy software to the cloud.
7. Salesforce
The leader in SaaS-based customer relationship management (CRM), Salesforce earned $7.7 billion in revenue in 2022. Key cloud offerings from Salesforce include:
- Sales Cloud: CRM platform to track sales interactions and pipeline
- Service Cloud: Customer service management
- Marketing Cloud: Digital marketing solution for campaigns and analytics
- Commerce Cloud: Unified commerce platform for ecommerce
With its strategic focus squarely on SaaS business applications, Salesforce dominates the market for cloud-based CRM software. It holds 19% market share in the applications market sub-segment. Beyond CRM, Salesforce also offers solutions for marketing, ecommerce and workforce collaboration.
8. Workday
Another leading SaaS provider, Workday offers cloud-based solutions focused on core HR, financial and operational processes. With 2022 revenue of $5.5 billion, Workday provides:
- HCM: Human capital management software covering HR, payroll etc.
- Financial Management: Tools for planning, accounting etc.
- Student: Cloud platform tailored for educational institutions
- Analytics: Data warehouse and analytics applications
Workday is among the fastest growing cloud companies, with 17% growth in 2022. While its market share remains small, Workday leads in HR management and financial SaaS tailored for medium-large enterprises.
9. Adobe Experience Cloud
Adobe‘s cloud offerings focus primarily around digital media creation and digital marketing solutions. Key Adobe Experience Cloud products include:
- Creative Cloud: Media design/editing tools like Photoshop, Premiere Pro etc.
- Document Cloud: Tools to create, manage digital documents
- Experience Platform: Customer data platform and analytics
- Advertising Cloud: Digital advertising management platform
With strong positions in marquee segments like design/media software and digital marketing, Adobe holds close to 20% share in enterprise SaaS applications. In 2022, Adobe earned SaaS revenue of $7 billion as part of total revenue of $17 billion.
10. Cisco Meraki Cloud Managed IT
In the networking/infrastructure domain, Cisco leads with its suite of cloud-managed IT products. Cisco Meraki solutions earned $5.5 billion revenue in 2022, making it one of the largest cloud software vendors.
Cisco Meraki provides:
- SD-WAN: Software-defined networking for cloud connectivity
- Network Security: Cloud-based firewalls, intrusion protection etc.
- WiFi: Wireless access points with cloud management
- Smart Cameras: Cloud video surveillance solutions
- IoT capabilities: Connecting and managing business devices
Cisco holds a dominant 50% market share in cloud-managed networking infrastructure and continues to expand offerings in related areas like security and analytics.
Conclusion
Cloud computing has unlocked immense possibilities for organizations to quickly and flexibly access advanced IT capabilities on-demand. Leading this seismic shift are mega-vendors like AWS and Microsoft Azure, who provide a sweeping array of infrastructure and software services with global scale.
However, as the cloud market matures, we‘re also seeing focused innovators who deeply specialize – like Salesforce in CRM or Workday in HR software. Investment and growth continue to accelerate around everything cloud-related. It’s clear that cloud technology will form the foundation for the next generation of IT with these trailblazing companies at the forefront.
