Azure’s revenue growth has surpassed that of AWS
Azure is Microsoft’s (MSFT) cloud services platform. Although Amazon’s (AMZN) Amazon Web Services (or AWS) continues to be the most popular cloud platform, Azure is growing faster than AWS. Its revenue has continued to grow at a rate of over 75% year-over-year in every quarter. Comparatively, Amazon reported a 46% revenue rise for AWS in the last quarter.
Microsoft has managed to serve multinational clients such as Mastercard (MA), Volkswagen, and Anheuser-Busch InBev (BUD) through Azure. So what’s driving the growth of the Azure platform for Microsoft? The addition of innovative features is definitely one of the main factors. In the last quarter alone, Microsoft added 100 features to Azure based on security, the Internet of Things, and AI technology.
Number of enhancements made by Microsoft to Azure
Let’s take a look at the innovative improvements Microsoft has made to its Azure cloud solution in the last few months:
- Azure Confidential Computing, a product with data security features that are essential for customers who are otherwise reluctant to move their data to the cloud
- Azure Sphere, another cloud platform that provides security to billions of IoT devices
- Azure ML, or Azure Machine Learning, a platform on which users can easily deploy analytics solutions
- Azure Cosmos DB, a distributed database on the Azure cloud platform whose annualized revenue has exceeded $100 million within less than a year of its launch
- Azure Stack, a hybrid cloud solution that combines on-premises and Azure cloud capabilities