- Global cloud market has grown 20% or more for six consecutive quarters
- Cloud spending in 2025 was nearly $400 billion, led by three global hyperscalers
- Omdia predicts additional 27% growth in 2026 as demand continues
New figures claim that global cloud spending in the final three months of 2025 rose 29% year-over-year to $110.9 billion, making it the sixth consecutive quarter of not just any growth, but growth of 20% or more.
Omdia, the company behind the data, explained that AI’s shift from experimentation to production deployment is to blame for the huge growth, with spending expanding far beyond the already high demand for CPUs and GPUs to include storage and networking as well.
With quarterly cloud revenue of $90.9 billion in Q1, $95.3 billion in Q2, and $102.6 billion in Q3, this brings annual spending to a total of $399.6 billion, a year-over-year growth rate of 24%.
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Global cloud market continues to grow
But as for the individual companies that make up the market, nothing has changed and three leading hyperscalers remain unbeatable. AWS still represents about a third (32%) of the market, followed by Microsoft Azure (22% share) and Google Cloud (12% share) in second and third place.
Although Google lags far behind its competition, its 50% growth is much higher than that of Azure (39%) and AWS (24%). Google is the third of three $3 billion companies, behind Apple and Nvidia.
“As AI continues to increase infrastructure requirements while limitations remain, vendors that can scale in a more targeted and efficient manner will be better positioned to lead the next phase of competition,” senior director Rachel Brindley wrote about the coming months.
Omdia also noted that AWS ended the quarter with a backlog of $244 billion and Google Cloud with a backlog of $240 billion (up from $157.7 billion in just three months), indicating sustained demand.
Looking ahead, Omdia predicts an additional 27% growth in cloud infrastructure spending in 2026, bringing total annual spending to more than $500 billion.
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