Cloud Infrastructure, $350 Billion Market by 2024?

June 15, 2021

Internet & E-commerce

Similar to online retail (B2C), a transition to the “Cloud” is occurring in tech services to businesses (B2B). Traditional in-house or off premises data warehouses are becoming obsolete as businesses take their data backup needs to the “Cloud”.

Cloud infrastructure services provide the hardware and software components that are needed to support the data storage, computing and networking requirements of a business.

The cloud infrastructure services market grew from just $30 billion in 2015 to $112 billion in 2019, representing a growth rate of over 270%. The “Big 4” which include Amazon, Microsoft, Google and Alibaba had combined revenue of over $50 billion in 2019 and represent about half of the market.

This market is forecasted to grow another 200% by 2024 to over $350 Billion.

Cloud Infrastructure: +$100B Market and Growing

The “Big 4” Companies Account for Half of the Market

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Source: Bloomberg Finance L.P. Data as of 1/31/2021.
B2C: Business to Consumer; B2B: Business to Business.
The above chart is for informational purposes only, includes the estimated growth of a certain sector and does not represent the O’Shares ETFs. It is impossible to predict future growth and actual results may vary. Past performance is no guarantee of future results.

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