The cloud computing space has been growing dramatically over the last few years, with Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP) leading the way and being dubbed the hyperscalers. IBM, Oracle, Alibaba, TenCent, and a vast number of smaller competitors are all actively jockeying for position. Overall, cloud computing is already a massive industry, with $223 billion in revenue in 2022.

While we expect to see ongoing enterprise adoption of cloud computing, the new primary driver of growth will be the nascent revolution in generative AI like ChatGPT and Midjourney. That new market will have meaningful spillover effects to cloud computing overall, more than doubling our previous estimates for growth over the next several years. We expect the cloud computing market to reach $920 billion in revenue by 2028, with about 18% of revenue accounted for directly by AI. The latest edition of our report includes a section dedicated to understanding new trends in AI and how those will affect the software industry overall and cloud computing specifically.

The cloud computing industry includes infrastructure and software required to build and maintain software platforms and products, provisioned in the cloud rather than on premise. From a practical perspective, this aligns fairly well with "resources formerly provided in a data center," like computing power, storage, and networking, now all provided as virtual resources, as well as utility applications like monitoring and security that are closely coupled with infrastructure. Note that this report does not cover SaaS applications, which as the name suggests are typically applications built on top of cloud computing, but by this definition a separate market.

This industry research report provides an in-depth analysis of the cloud computing industry

  • Includes a clear market definition, breakdown of cloud computing into layers, analysis of market size and growth, and the most detailed revenue numbers for the top competitors
  • Covers top 9 industry trends
  • Includes profiles of top 6 competitors with in depth analysis of the big 3
  • Lists another 30+ companies in the cloud computing space, 70+ in adjacent segments, and top new entrants to watch
  • Analyzes customer buying motivations and provides in-depth customer case studies
  • Assesses AI as the biggest potential new driver of cloud computing growth

The report answers the most relevant business questions about cloud computing

  • How big is the cloud computing industry, how fast is it growing, and how big will it get?
  • What are the relevant trends? How will AI in particular affect the cloud computing landscape?
  • Who are the new companies to watch?
  • What do customers need?
  • How profitable is cloud computing after all?
  • How viable are multi-cloud, hybrid cloud, and other approaches from a technology strategy perspective?

What makes us different from other research reports

  • Includes an hour of discussion / Q&A time with founder / lead analyst
  • No BS or unsupported numbers, unlike many fly by night research sources
  • Access to our updates for the next year
    • Revised revenue forecasts quarterly
    • Analysis of news and developments in the industry
    • Additional deep dives into aspects of the industry periodically


"I turn to Cloud Industry Data for well-researched, unbiased assessments of industry and analysis of trends that will shape the future." - Director of Corporate Strategy

"Cloud Industry Data’s report was comprehensive and provided strategic insights that were incredibly helpful, including the recent fast moving developments in AI. The product matrix included in the report was a particularly nice touch, offering a clear representation of the various cloud computing services offered by the big 3 providers." - Co-founder, Medium Data