The global cloud market showed strong growth in the first quarter of this year, with the big three vendors continuing to consolidate their stranglehold on this important area of IT services.
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Enterprise spending on cloud infrastructure services topped $76 billion in the first quarter of 2024, an increase of $13.5 billion, or a 21 percent increase over the same period last year.
These numbers come from Synergy Research Group, which said this is the second quarter in a row where the year-on-year growth rate has improved significantly, with Q1 posting the strongest growth since Q3 2022.
"We forecast that the growth rate would bounce back and that's what we're seeing now," said Synergy chief analyst John Dinsdale.
