According to the Wall Street Journal, Amazon, Microsoft and Google, which dominate the cloud computing market, have boomed during the new crown epidemic. And now, as the economy enters another turbulent phase, the three companies appear poised to continue their strong momentum.

The three companies captured 65 percent of the $53 billion in global spending on cloud services in the first quarter of this year, up from 52 percent four years ago, according to Synergy Research Group. The companies’ grip on the fast-growing key market is expected to remain, executives and analysts said, as their size makes them more able to continue investing and attract clients seeking stability in turbulent times.

The pandemic has driven widespread spending on remote computing services as life and work move more online. Analysts say the top cloud computing companies have cemented their dominance in part because the industry requires heavy investment in servers and their storage facilities. The larger the scale of these server farm networks, the lower the average cost of building and running them, and the three companies are in an advantageous position. In addition, the companies' ability to develop their own chips, software and other technologies for cloud services gives them a further edge. Analysts at FactSet noted that the three giants' combined cloud services revenue grew more than 33% last year and is expected to grow nearly 29% this year.

In contrast, the financing of some small and medium-sized companies in the cloud computing industry is expected to face greater challenges, as the slide in share prices means investors are less willing to take big risks, the report pointed out.