Amazon recently hit over $1 trillion in value and half of its revenue is now coming from Amazon Web Services. AWS, Amazon Web Sevices, cloud-computing operation reached $500 billion in value on Tuesday.
On Tuesday morning, John Blackledge issued a report on his research team’s seventh annual survey of the public cloud market. Blackledge found that Amazon Cloud Computing is considerably ahead when compared to Microsoft Azure, Google Cloud, IBM, and other vendors.
Originally, IT buyers expected to spend 31% year-over-year with public cloud providers. However, that projection increased to 36% this year and may increase each year.
As well as, 19% of IT workloads running on the cloud. The survey also found that about 50% of email systems, website hosting, and e-commerce platforms are cloud-based.
Blackledge expects AWS revenues of $36.1 billion this year, growing about 31% a year to $140 billion in 2024. The AWS $500 billion value alone is more than IBM, Oracle, and SAP combined and about even with Facebook.
Stock increased to $1836.79 and according to Piper Jaffray analyst, Michael Olson, Amazon stock could hit $3000 after 3 years.
To read more about AWS and their $500 billion valuation, click here
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