August 19, 2020
To cope with the shifting COVID-19 work environment, businesses are investing heavily in the cloud. In the second quarter of 2020, companies spent almost $35 billion on cloud services worldwide, up about 30% from the same time last year.
Amazon Web Services and Microsoft’s Azure topped the list of company spending gains, stoked by unprecedented demand for cloud-based collaborative tools, online commerce, e-learning, and content streaming.
“Organizations that had applications running in on-premises environments were compelled to move them to the cloud, because if people couldn’t get to work, that data center was useless,” said Sid Nag, a vice president at IT consulting firm Gartner Inc.
Sources: Synergy Research Group, Canalys