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Charting the Massive Scale of the Digital Cloud

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The Scale of the Digital Cloud

Charting the Massive Scale of the Digital Cloud

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Cloud computing continues to be on the rise, and for good reason. It’s transformed our digital experience in numerous ways, from how we store data to the way we share information online with others.

Growth in cloud services is showing no signs of slowing down, particularly in the data storage realm—by 2025, almost half of the world’s stored data will reside in public cloud environments. Yet, despite its increasing popularity among consumers and businesses alike, do people really understand what the cloud fully entails? Or better yet, what the cloud even is?

Today’s infographic from Raconteur provides an overview of the fast-changing cloud computing landscape, showcasing the industry’s growth and its evolution in scale. It also touches on what’s next for the cloud.

What is Cloud Computing?

Put simply, cloud computing is a network of remote servers that provides customers with a number of offerings, including data storage, processing power, and apps. It’s usually delivered on a pay-per-use basis.

Cloud computing can be broken down into three categories:

  • Infrastructure-as-a-Service (IaaS): Virtual computing services that businesses can utilize over the internet. IaaS allows businesses to scale up resources when needed, and pay for what they use. Microsoft Azure and Amazon Web Services are both IaaS examples.
  • Platform-as-a-Service (PaaS): Like IaaS, PaaS utilizes remote infrastructure, but it includes an extra layer by offering tools that developers use to build apps. Examples of PaaS in action include the Google App Engine or OpenShift.
  • Software-as-a-Service (Saas): The delivery of apps through remote servers. This is the type of cloud computing most users are familiar with. Examples include Dropbox and Google Apps.

Cloud computing has its obstacles, such as security and privacy risks. Yet, the cloud continues to entice consumers by offering a new level of accessibility to their online experience.

This accessibility has also drastically changed the working world. The cloud allows users to access company servers from anywhere globally, and to share documents and information with colleagues quickly. Because of this, it’s become a key part of remote work.

IaaS: The Backbone of the Cloud

Cloud services are seeing significant growth, and the big tech companies are its backbone.

In fact, four major players combine to dominate almost 60% of the cloud’s infrastructure. Here’s a look at the cloud market breakdown in 2019, and annual growth compared to 2018:

Service Provider2019 Market ShareAnnual Growth
Amazon Web Services32.3%+36.0%
Microsoft Azure16.9%+63.9%
Google Cloud5.8%+87.8%
Alibaba Cloud4.9%+63.8%
Others40.1%+23.3%

It’s no surprise that U.S. companies dominate the cloud service market since the country currently has the largest share of global cloud storage worldwide. Yet, the concentration of cloud storage is predicted to even out in the next few years—by 2025, the U.S. portion of public cloud storage will drop from 51% to 31%, while China’s will increase from just 6% to 13%.

What’s Next for the Cloud?

The cloud has changed the way we use the internet. It has influenced the way we share information, our ability to work remotely, and how we store our data.

And these services are much needed, as our use of data and the internet continues to scale up. By 2025, an average internet user will have around 4,909 data interactions per day, an increase from 1,426 in the year 2020.

At the same time, the scale of global datasphere is expected to be five times bigger in 2025 than it was in 2018, growing from 33 zettabytes to 175 zettabytes. Each zettabyte, by the way, is equal to 1 trillion gigabytes.

With data taking an ever more important role in our lives, the cloud is becoming an indispensable part of business, technology, and society as a whole.

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Markets

Ranked: The 20 Biggest Tech Companies by Market Cap

In total, the 20 biggest tech companies are worth over $20 trillion—nearly 18% of the stock market value globally.

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A portion of the top 20 biggest tech companies visualized as bubbles sized by market cap with Apple as the biggest.

Ranked: The 20 Biggest Tech Companies by Market Cap

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

The world’s 20 biggest tech companies are worth over $20 trillion in total. To put this in perspective, this is nearly 18% of the stock market value globally.

This graphic shows which companies top the ranks, using data from Companiesmarketcap.com.

A Closer Look at The Top 20

Market capitalization (market cap) measures what a company is worth by taking the current share price and multiplying it by the number of shares outstanding. Here are the biggest tech companies according to their market cap on June 13, 2024.

RankCompanyCountry/RegionMarket Cap
1AppleU.S.$3.3T
2MicrosoftU.S.$3.3T
3NvidiaU.S.$3.2T
4AlphabetU.S.$2.2T
5AmazonU.S.$1.9T
6MetaU.S.$1.3T
7TSMCTaiwan$897B
8BroadcomU.S.$778B
9TeslaU.S.$582B
10TencentChina$453B
11ASMLNetherlands$415B
12OracleU.S.$384B
13SamsungSouth Korea$379B
14NetflixU.S.$281B
15AMDU.S.$258B
16QualcommU.S.$243B
17SAPGermany$225B
18SalesforceU.S.$222B
19PDD Holdings (owns Pinduoduo)China$212B
20AdobeU.S.$206B

Note: PDD Holdings says its headquarters remain in Shanghai, China, and Ireland is used for legal registration for its overseas business.

 

Apple is the largest tech company at the moment, having competed with Microsoft for the top of the leaderboard for many years. The company saw its market cap soar after announcing its generative AI, Apple Intelligence. Analysts believe people will upgrade their devices over the next few years, since the new features are only available on the iPhone 15 Pro or newer.

Microsoft is in second place in the rankings, partly thanks to enthusiasm for its AI software which is already generating revenue. Rising profits also contributed to the company’s value. For the quarter ended March 31, 2024, Microsoft increased its net income by 20% compared to the same quarter last year.

Nvidia follows closely behind with the third-highest market cap, rising more than eight times higher compared to its value at the start of 2023. The company has recently announced higher profits, introduced a higher dividend, and reported that its next-generation GPU chip will start generating revenue later this year.

AI a Driver of the Biggest Tech Companies

It’s clear from the biggest tech companies that involvement in AI can contribute to investor confidence.

Among S&P 500 companies, AI has certainly become a focus topic. In fact, 199 companies cited the term “AI” during their first quarter earnings calls, the highest on record. The companies who mentioned AI the most were Meta (95 times), Nvidia (86 times), and Microsoft (74 times).

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