How open banking is driving huge innovation
The global cloud services infrastructure market grew to $39.9 billion in Q4 2020, a 32% year-on-year (YoY) increase and 10% quarter-on-quarter (QoQ) increase.
The figures from Canalys come in a seven-day period when the “big three” cloud providers revealed their quarterly earnings, with Amazon’s AWS, Microsoft’s Azure, and Alphabet’s Google Cloud reporting record sales, though growth slowed in some cases.
While cloud services infrastructure was already a major growth industry, the pandemic has accelerated this upward trend over the past year, with each quarter recording sharp inclines. The last three-month period once again represented the “largest quarterly expansion in dollar terms,” according to Canalys, driven by remote work and consumer services such as online gaming and music streaming.
Looking at the