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Cloud Computing: Cloud Vendors Spend Big to Grow Their Business
Right now there’s no end in sight for the expected growth in the cloud computing market. Brent Bracelin, KeyBanc Capital Markets analyst, predicts that currently the public cloud market is worth about $106 billion and will grow to more than $314 billion by 2022. Amazon, for example saw a 43 percent jump in revenue for AWS in 2017.
The potential in this market has vendors like Amazon.com, Microsoft and Google all spending massive amounts to secure a position in the market. The Wall Street Journal estimates that just those three vendors alone spend more than $41 billion in cloud-related capital expenditures in 2017, a 33 percent increase over 2016. Spending goes towards new data center construction and building out their networks.
According to the WSJ, KeyBanc expects spending on cloud capital expenditures to be 27 percent in 2018. Cloud hardware suppliers, like Nvidia and Intel are expected to do very well in supplying hardware to cloud vendors. Nvidia, for example, has sales to cloud vendors that have grown by triple digits for the past seven business quarters.
