This comes as it was revealed that the European cloud market is over five times as big as it was in early 2017, reaching €10.4 billion in the second quarter of 2022.
The main beneficiaries of the market growth have been Amazon, Microsoft and Google. These three global cloud providers now account for 72% of the regional market and their share continues to steadily rise.
Among European cloud providers, SAP and Deutsche Telekom are the leaders, accounting for 2% of the European market.
They are followed by OVHcloud, Telecom Italia, Orange and a long list of national and regional players.
“The cloud market is a game of scale where aspiring leaders have to place huge financial bets, must have a long-term view of investments and profitability, must maintain a focused determination to succeed, and must consistently achieve operational excellence,” said John Dinsdale, a chief analyst at Synergy Research Group.
“No European companies have come close to that set of criteria and the result is a market where the six leaders are all US companies.”
Over the last four quarters, European cloud infrastructure service revenues totalled over €27 billion, up 41% from the preceding four quarters.
IaaS and PaaS services account for over 80% of the market and they are growing more rapidly, the research added.
