It is already known that Amazonâs $17 billion Web services business is the clear leader when it comes to cloud computing, but the company received further confirmation of its dominance this week at AWS Summit.
With 9K in attendance, we note this regional event has now reached the same scale as where re:Invent was less than five years ago, analyst Brent Thill told clients of the event in San Francisco. AWS remains the runaway leader in a vast, and still rapidly growing, cloud infrastructure market by a wide margin.
AWS has become the gold standard for millions of customers,” Thill added. “We think this business can cross $60Bn in annual revenue in five years (vs. $20Bn run rate today), making it one of the largest enterprise software companies on the planet.
In addition, it will allow Amazon to expand from cloud infrastructure into the application layer. This market opportunity could be an estimated $100 billion compared to infrastructureâs $72 billion.
Amazonâs web business could get a boost soon as it closes in on a $10 billion deal with the Pentagon, despite Trumpâs attacking tweets towards the company. So far this year, shares of Amazon are up 21% and it is estimated that they could climb another 32% to $1,850.
AWS Global Summits are free events that bring the cloud computing community together to connect, collaborate, and learn about AWS. Summits are held in major cities around the world, and attract technologists from all industries and skill levels who want to discover how AWS can help them innovate quickly and deliver flexible, reliable solutions at scale.