Cloud services providers — Amazon Web Services (AWS), Microsoft Azure and Google Cloud — collectively grew 22 per cent in the first quarter to account for a 64 per cent share of customer spending, a report said

Amazon Web Services (AWS) was the leading cloud service provider in Q1, accounting for 32 per cent of total spending after growing 16 per cent year-on-year, according to market research firm Canalys

Microsoft Azure remained the second largest cloud service provider, with a 23 per cent market share after it grew by 27 per cent year-on-year

Google Cloud grew 30 per cent in the March quarter and accounted for 9 per cent market share

Worldwide cloud infrastructure services spending increased 19 per cent to $66.4 billion in Q1 2023

All the cloud hyperscalers were adversely affected, with their growth falling by four percentage points from the previous quarter

In response to slowing growth, they announced staff layoffs and other internal cost cuts in their cloud divisions

Regionally, APAC saw the weakest performance as customer spending reduced in Mainland China, impacting many of the Chinese hyperscalers