In the third quarter of 2022, Google Cloud invested more than $57.5 billion in cloud infrastructure services. The enterprise has mainly invested in hyperscalers and $11 billion more than it did last year.
Google’s investment comes when the US dollar is getting stronger, and the Chinese economy is slowing down.
With an 11 percent market share, Google Cloud continues to trail behind Microsoft at 21 percent and cloud leader Amazon at 34 percent. While other players like Alibaba, IBM, Salesforce, Tencent, and Oracle with five, three, three, two, and two percent, respectively.
Meanwhile, other cloud players like China Telecom, Baidu, Huawei, Fujitsu, NTT, Snowflake, SAP, and Rackspace have nearly one percent market share.
Chief analyst at Synergy Research Group, John Dinsdale, said It is a strong testament to the benefits of cloud computing. Despite two major obstacles to growth, the worldwide market still expanded by 24 percent from last year. If exchange rates remained stable and the Chinese market remained on a more normal path, the growth rate percentage would have been well into the thirties.
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