Gartner Says IaaS Public Cloud Services Grew 16% in 2023

The IaaS (Infrastructure as a Service) market grew 16.2% in 2023, reaching $140 billion. This growth is driven by hyperscalers focusing on sovereignty, ethics, privacy, and sustainability in revenue and 39% market share Amazon leads with $54.6 billion Microsoft follows with 23% Google, Alibaba, and Huawei round out the top five Generative AI investments will drive future growth "Cloud is the foundational and scalable substrate required to make GenAI a reality," said Sid Nag, VP Analyst at Gartner AI model training is consuming IaaS resources SaaS applications are beginning to include GenAI capabilities Capacity demand in public cloud markets will continue to rise through 2028