As one of Amazon’s strongest-growing business segments, Amazon Web Services (AWS) has registered a 29% year-on-year jump in revenue to a whopping $10.8 billion in the second quarter of 2020.
Microsoft’s Azure ranked as the second most popular cloud platform service, with 63% of respondents running its applications. Google Cloud and VMware Cloud Services follow, with 35% and 17% share of respondents, respectively.
According to data presented by BuyShares.co.nz, the cloud services platform has witnessed a surge in revenue over the years.
Since 2006, when Amazon began offering its cloud computing services, AWS has powered hundreds of thousands of businesses in 190 countries worldwide. The list of its largest users includes giants like Netflix, Twitch, LinkedIn, Facebook, BBC, and ESPN.
In the first quarter of 2017, the revenue of the Amazon Web Services amounted to over $3.6 billion, revealed the company’s Q2 2020 Financial Report.
By the end of that year, profits of Amazon’s third-largest revenue stream jumped over $5.1 billion. The increasing trend continued in the next twelve months, with the AWS revenue reaching $7.4 billion in the fourth quarter of 2018.
Statistics indicate this figure rose by 34% to $9.9 billion in the fourth quarter of 2019. By the end of the second quarter of 2020, AWS revenue increased by almost $1 billion, reaching $10.8 billion value.
Statistics also indicate that Amazon’s cloud computing services witnessed the most significant revenue increase in two years. In 2017, the AWS segment generated $17.46 billion in annual sales. By the end of 2019, this figure surged by 100% to $35.03 billion.