In the global cloud service market, Amazon Web Services (AWS) remains the leader with a 31% market share as of Q1 2024, although it has slightly decreased from 32% a year prior. Microsoft Azure follows closely at 25%, seeing steady growth due to its comprehensive suite of enterprise services, including Office 365 and LinkedIn integrations. Google Cloud holds 11%, making up the "Big Three" cloud providers that dominate two-thirds of the market. Other competitors, such as Alibaba in China, also have strong regional influence, with Alibaba Cloud commanding nearly 39% of the Chinese market​.
This significant market share distribution is influenced by the growing demand for AI and machine learning applications, which drive cloud adoption across industries. Companies are increasingly leveraging hybrid and multi-cloud strategies to manage costs and ensure flexibility, further bolstering the positions of these major players​.
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