Top 10: Cloud Platforms

The world has seen a global pivot towards cloud computing, driven by a compelling mix of efficiency, scalability and innovative capabilities that traditional on-premises solutions struggle to match.

With 2024 now well underway, moving to the cloud continues to remain a priority for major corporations, with executives reporting that cloud technology is a catalyst for innovation for their organisation’s future.

According to analysis by Research and Markets, about 70% of firms have already shifted to cloud-based computing for at least part of their services, with cloud computing demand only set to increase in the upcoming years.

With that in mind, Technology Magazine highlights the Top 10 cloud platforms globally, by market capitalisation.

10. Dell Technologies Cloud

Headquarters: Round Rock, Texas, United States

CEO: Michael Dell

Market share: <2% (Q3 2023)

Dell Technologies Cloud is a hybrid cloud solution that simplifies operations and improves cloud economics through a consistent management experience.

It offers tailored cloud solutions with support for all major cloud providers and a single cloud vendor experience. Dell’s cloud platform has support for more than 4,200 major cloud providers, including AWS, Microsoft Azure and Google Cloud Platform.

Dell Technologies’ APEX solution meanwhile uses the expertise of Dell Technologies to provide a simple and secure path for enterprises to adopt hybrid cloud infrastructure.

9. Huawei Cloud

Headquarters: Shenzhen, China

CEO: Zhang Ping'an

Market share: <2% (Q3 2023)

Building on Huawei’s more than three decades of expertise in ICT and digitalisation, Huawei Cloud spans many availability zones around the world, providing fully connected, high-speed, and stable networks and services. According to China Internet Watch, Huawei Cloud had an 18% market share in the China cloud infrastructure service spend in 2021.

Last year the company launched its ‘Go Cloud, Go Global’ plans, announcing intentions to cover 170 countries and regions globally.

8. Oracle Cloud

Headquarters: Austin, Texas, United States

CEO: Safra Catz

Market share: 2% (Q3 2023)

Oracle Cloud is a cloud computing service offered by Oracle Corporation, providing servers, storage, network, applications and services through a global network of Oracle-managed data centres. Oracle says it is the first public cloud built from the ground up to be a better cloud for every application.

Oracle Cloud Infrastructure (OCI) offers the fastest-growing network of global data centres, with 41 cloud regions available and nine more planned, and more than 100 cloud infrastructure and platform services.

7. Tencent Cloud

Headquarters: Shenzhen, China

CEO: Dowson Tong

Market share: 2% (Q3 2023)

Tencent Cloud is a secure, reliable and high-performance cloud compute service provided by Tencent, the largest Internet company in China. Tencent Cloud provides businesses across the globe with stable and secure industry-leading cloud products and services, leveraging technological advancements such as cloud computing, big data analytics, AI, IoT and network security.

With more than one billion users, Tencent is providing services for hundreds of millions of people via its flagship products like QQ and WeChat.

6. Salesforce

Headquarters: San Francisco, California, United States

CEO: Marc Benioff

Market share: 3% (Q3 2023)

Salesforce is a cloud infrastructure provider that specialises in customer relationship management (CRM) software. Its Sales Cloud solution brings sales professionals real-time customer data, AI-powered insights, forecasting, lead generation, and more all on a single platform and directly within the flow of work. The company recently announced general availability of new AI-powered solutions for Sales Cloud, which embeds trusted generative AI in the flow of work by auto-generating customer emails, call summaries, account research, and more.

5. IBM Cloud

Headquarters: New York, United States

CEO: Arvind Krishna

Market share: 3% (Q3 2023)

IBM Cloud offers market-leading security, enterprise scalability and open innovation to unlock the full potential of cloud and AI. The IBM Cloud platform combines platform as a service (PaaS) with infrastructure as a service (IaaS) to provide an integrated experience. 

Available in data centres worldwide, with multizone regions in North and South America, Europe, Asia, and Australia, IBM Cloud offers the most open and secure public cloud for business with a next-generation hybrid cloud platform, advanced data and AI capabilities, and deep enterprise expertise across 20 industries.

4. Alibaba Cloud

Headquarters: Hangzhou, China

CEO: Eddie Wu

Market share: 4% (Q3 2023)

One of the world's largest cloud computing companies, Alibaba Cloud develops highly scalable cloud computing and data management services providing large and small businesses, financial institutions, governments and other organisations with flexible, cost-effective solutions to meet their networking and information needs. 

A business of Alibaba Group, Alibaba Cloud operates the network that powers Alibaba Group’s extensive online and mobile commerce ecosystem and sells a comprehensive suite of cloud computing services to support sellers and other third-party entities participating in this ecosystem.

3. Google Cloud

Headquarters: Mountain View, California, United States

CEO: Thomas Kurian

Market share: 11% (Q3 2023)

Google Cloud Platform provides a series of modular cloud services including computing, data storage, data analytics and machine learning.

Google Cloud Platform is a part of Google Cloud, which includes the Google Cloud Platform public cloud infrastructure, as well as Google Workspace, enterprise versions of Android and ChromeOS, and APIs for ML and enterprise mapping services.

Additionally, Google Cloud offers regions across the world to provide customers with global coverage, low cost, low latency, and application availability.

2. Microsoft Azure

Headquarters: Redmond, Washington, United States

CEO: Satya Nadella

Market share: 22% (Q3 2023)

Microsoft’s Azure platform was officially released in 2010 and offers a range of cloud services, such as compute, analytics, storage and networking.

The Azure platform, formed of more than 200 products and cloud services, helps businesses manage challenges and meet their organisational targets. It provides tools that support all industries, as well as being compatible with open-source technologies.

Microsoft charges Azure on a pay-as-you-go basis, which means subscribers receive a bill each month that only charges them for the specific resources they used.

According to Microsoft, 95% of Fortune 500 companies rely on Azure for trusted cloud services, with companies of all sizes and maturities using Azure in their digital transformation.

1. AWS

Headquarters: Seattle, Washington, United States

CEO: Adam Selipsky

Market share: 32% (Q3 2023)

Officially launched in 2002, AWS today offers more than 200 fully featured services from data centres worldwide. The organisation serves hundreds of thousands of customers across 190 different countries, and today is the most comprehensive and widely-used cloud computing platform globally.

A subsidiary of Amazon, AWS provides on-demand cloud computing platforms and APIs to individuals, companies, and governments, on a metered, pay-as-you-go basis. The AWS Cloud spans 99 Availability Zones within 31 geographic regions around the world.
Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—are using AWS to lower costs, become more agile, and innovate faster.

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