Google Cloud Leads the Pack in Q3 2024; A Look at Top Cloud Vendors' Growth

2024-11-15

In the latest Cloud Wars Growth Chart, Google Cloud has again emerged as the fastest-growing major cloud vendor with an impressive 35% growth rate in Q3 2024, followed by SAP with 25% and ServiceNow with 23%. Google Cloud’s remarkable surge reflects its strategic advancements in AI, surpassing a previous growth rate of 28.8% in Q2. This rapid expansion occurs amid significant technological shifts as organizations endeavor to become AI-first.

SAP’s 25% growth places it firmly in second, outperforming most application providers despite its larger base size. The consistent growth indicates SAP’s effective innovation strategy, particularly in enterprise resource planning (ERP) solutions like SAP S/4HANA. ServiceNow, recognized for its strong positioning as “the AI platform for business transformation,” maintains third place.

On the innovation front, SAP recently showcased several solutions aimed at streamlining operations for small to medium enterprises at the SAP Spend Connect Live event in Las Vegas. Key innovations include SAP Ariba Intake Management, generative AI integration across its platforms, and enhanced analytics capabilities. SAP’s commitment to enhancing productivity was evidenced by strong customer participation, with over 1,400 clients attending the event.

While SAP is thriving, challenges remain concerning its users’ ability to keep pace with cutting-edge technology. A survey from the German-speaking SAP user group indicated that nearly a quarter of users struggle with the rapid changes introduced by new technologies, including AI. Calls for greater transparency in SAP’s AI features and their integration into existing systems were highlighted.

Furthermore, SAP has set its sights on expanding its workforce in India, with CEO Christian Klein announcing an intention to hire disproportionately in the region, eventually surpassing the employee count in Germany. This aligns with SAP’s strategic focus on AI development, with the majority of future investments in research and development directed toward their Indian operations.

As SAP continues to innovate and adapt to the evolving digital landscape, its efforts in both domestic and international markets, particularly in China, indicate a robust plan for sustaining growth and maintaining leadership in enterprise solutions.

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