- Synergy Research Group has been tracking the cloud/datacentre sector for years
- It has just released its first-half (H1) 2024 overview for the market, which grew by 23% to hit $427bn
- The research firm highlights an AI-fuelled surge in datacentre investments, which grew by 30%
The value of the global cloud service and infrastructure sector grew by 23% year on year in the first half of 2024 to reach $427bn, with AI trends driving cloud services demand and a surge in datacentre infrastructure investments alike, according to a new report from Synergy Research Group.
And for a change, the highest spending growth is in the underlying infrastructure rather than in cloud services. “For a long time now the growth rate in cloud services has far outpaced growth in spending on cloud datacentre infrastructure, but that has temporarily switched around, driven by heavy investments in generative AI technology,” according to the Synergy Research team, as the growth in combined spending on IaaS, PaaS and SaaS services hit 21% while investments in public and private cloud datacentre infrastructure grew by 30%.
“Cloud markets were already growing strongly and AI has now supercharged some of that growth. We see this particularly in the rollout of new and expanded hyperscale datacentres,” noted John Dinsdale, a chief analyst at Synergy Research.
