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Report Says COVID-19 Pandemic Boosts Cloud Consumption By 33% In Q3 2020

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Cloud infrastructure services continued to benefit from the fallout of the COVID-19 pandemic in the third quarter of 2020, according to a report by technology market research firm Canalys.

The worldwide cloud market grew 33 percent to 36.5 billion U.S. dollars in Q3, which was 2 billion dollars higher than Q2 and up 9 billion dollars from the same period last year, Canalys data showed.

The dependence on cloud-based tools and services remained high across all sectors of the economy, including governments, businesses and consumers, as social-distancing measures persisted, the report noted.

The return of stricter lockdown measures in certain regions over the coming months means cloud services will remain vital for sustaining business operations, remote working and learning, as well as customer engagement, according to Canalys.

Amazon Web Services was the leading cloud service provider in Q3, increasing its share of total consumption to 32 percent. Technology spending remains robust despite the global economic downturn, primarily for products and services enabling business continuity, including notebook PCs and peripherals, cloud-based services and cybersecurity, said the report.