Growth was driven by increased demand for Artificial Intelligence infrastructure and the acceleration of migration and modernization initiatives to the Cloud
The global Infrastructure as a Service (IaaS) market grew by 22.5% in 2024, reaching US$171.8 billion, according to the Gartner, Inc.., a business insights and technology company. Amazon maintained its number one position in the IaaS market in 2024, followed by Microsoft, Google, Alibaba, and Huawei.
“As businesses continue to seek greater flexibility, enhanced resilience, and optimized performance, there is a continued demand for migration and modernization services to A cloud", it says Hardeep Singh, Principal Analyst at Gartner. “Companies want to transform their IT infrastructure leveraging multiple platforms for Artificial Intelligence (AI) and prioritizing modernization by migrating existing workloads to the cloud. They are also deploying cloud-native applications across multiple environments.”
This trend is further driven by the demand for flexibility with data residency and sovereignty, as companies seek to gradually transition to the cloud while maintaining control over their data and operations.
“Cloud providers are investing heavily in infrastructure and cloud resources. AI to become leaders in the rapidly evolving AI-optimized IaaS market. They expect AI to become a much larger revenue source in the future, although it currently still represents a relatively small portion of their overall IaaS revenue,” says Singh. “Emerging AI-optimized IaaS offerings from non-hyperscalers, or GPU-as-a-Service (GPUaaS) providers, while still nascent, have also played a key role in meeting immediate capacity requirements by offering flexible, high-performance computing on demand.”
By 2024, the top five IaaS vendors accounted for 82.1% of the market. Amazon continued to lead the global IaaS market with revenue of $64.8 billion and a 37.7% market share, followed by Microsoft with a 23.9% market share. Google, Alibaba Group, and Huawei maintained their respective positions compared to the previous year.
Global Public Cloud IaaS Services Market Share, 2023-2024 (in millions of US dollars)
|
Company |
Revenue 2024 |
Market Share 2024 (%) |
Revenue 2023 |
Market Share 2023 (%) |
Growth from 2023 to 2024 (%) |
|
amazon |
64.804,9 |
37,7 |
54.664,0 |
39,0 |
18,6 |
|
Microsoft |
41.099,3 |
23,9 |
32.205,7 |
23,0 |
27,6 |
|
|
15.519,5 |
9,0 |
11.458,2 |
8,2 |
35,4 |
|
Alibaba Group |
12.444,9 |
7,2 |
11.129,1 |
7,9 |
11,8 |
|
Huawei |
7.082,2 |
4,1 |
5.979,7 |
4,3 |
18,4 |
|
Others |
30.803,7 |
17,9 |
24.767,5 |
17,7 |
24,4 |
|
Total |
171.754,6 |
100 |
140.204,2 |
100 |
22,5 |
Source: Gartner (August 2025)
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Gartner clients can read more at “Market Share: Enterprise Public Cloud Services, Worldwide, 2024" It is "Market Share Analysis: Infrastructure as a Service, Worldwide, 2024“Learn how to maximize the benefits of cloud computing in Gartner's free e-book, “Devising an Effective Cloud Strategy“.
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