As one of Amazon's strongest-growing business segments, Amazon Web Services, also known as AWS, has witnessed a surge in revenue over the years.

According to data presented by https://buyshares.co.nz/, the revenue of the leading cloud services platform worldwide hit $10.8bn in the second quarter of 2020, a 29% jump year-on-year.

AWS Annual Revenue Surged by 100% in Two Years

Since 2006, when Amazon began offering its cloud computing services, AWS developed into the world's leading cloud computing platform that powers hundreds of thousands of businesses in 190 countries worldwide. The list of its largest users includes giants like Netflix, Twitch, LinkedIn, Facebook, BBC, and ESPN.

In the first quarter of 2017, the revenue of the Amazon Web Services amounted to over $3.6bn, revealed the company's Q2 2020 Financial Report. By the end of that year, profits of Amazon's third-largest revenue stream jumped over $5.1bn. The increasing trend continued in the next twelve months, with the AWS revenue reaching $7.4bn in the fourth quarter of 2018. Statistics indicate this figure rose by 34% to $9.9bn in the fourth quarter of 2019. By the end of the second quarter of 2020, AWS revenue increased by almost $1bn, reaching $10.8bn value.

Statistics also indicate that Amazon's cloud computing services witnessed the most significant revenue increase in two years. In 2017, the AWS segment generated $17.46bn in annual sales. By the end of 2019, this figure surged by 100% to $35.03bn. As the second-largest revenue stream, the retail third-party seller service saw a 69% increase in profits in this period. The revenue of Amazon online stores, the company's largest segment, jumped by more than 30% in two years, reaching $141.25bn in 2019.

76% of Business Organizations Use Amazon Web Services

One of the most used ways for companies to utilize cloud computing is to take advantage of the various “as-a-service” options, which provide them access to computing power, software, and other cloud-related functions without the need for in-house hardware.

The 2020 Flexera State of the Cloud Report revealed that 76% of technical professionals from industries around the world stated their organization was currently running apps on Amazon Web Service, with another 12% saying that they were experimenting with the use of AWS apps.

Microsoft’s Azure ranked as the second most popular cloud platform service, with 63% of respondents running its applications. Google Cloud and VMware Cloud Services follow, with 35% and 17% share of respondents, respectively.

The full story can be read here: https://buyshares.co.nz/2020/09/02/amazon-web-services-hit-10-8bn-in-revenue-in-q2-2020-a-29-jump-year-on-year/.