Cloud spending reaches $129 billion in Q1 2026, marking ninth consecutive quarter of growth

Enterprise cloud spending in the first quarter of 2026 rose to $129 billion, a 35 percent year-over-year increase that marks the ninth consecutive quarter of growth, according to Synergy Research Group. The growth rate is the highest since the fourth quarter of 2021, when the market was roughly 40 percent of its current size. Amazon maintains the largest market share at 28 percent, but Microsoft at 21 percent and Google at 14 percent are growing faster. The top three providers account for 67 percent of the public cloud market. Tier-two cloud providers also saw strong growth, led Growth is strong worldwide, with India, Indonesia, Ireland, Taiwan, Thailand, and Malaysia growing above the global average. The United States remains the largest market, surpassing all of Asia-Pacific and growing Synergy estimated quarterly cloud infrastructure service revenue at $128.6 billion, with trailing 12-month revenues reaching $455 billion. John Dinsdale, chief analyst at Synergy Research Group, said the first quarter market is now fifteen times larger than it was a decade ago and continues to expand at 35 percent annually.