AWS Andy Jassy: "Companies Will Move to the Cloud Within 10 Years"

Andy Jassy, CEO of Amazon Web Services (AWS). Photo by AWS re:Invent capture

[Asia Economy Reporter Bu Aeri] Andy Jassy, CEO of Amazon Web Services (AWS), emphasized the growth potential of the industry, stating that "there are many opportunities in the cloud sector."

On the morning of the 2nd (Korean time), Jassy held the annual conference 'AWS re:Invent' online and revealed the future business vision, including the post-COVID-19 pandemic situation.

According to AWS, AWS holds the largest share of the global cloud market at 45%. It is followed by Microsoft (17.9%), Alibaba (9.1%), Google (5.3%), and IBM (2%).

Jassy said, "Cloud migration is still in its early stages. Companies currently spend only 4% of their total IT budget on the cloud," but added, "Considering that most will move to the cloud within the next 10 years, there is still significant growth potential."

He emphasized the growth potential by stating, "AWS grew 29% year-over-year this year, with revenue increasing by $10 billion over the past 10 months. It took AWS 10 years to become a $10 billion company, then 23 months to reach $20 billion, and 2 years to reach $40 billion."

Jassy added, "For companies to reinvent themselves, strong leadership commitment, a spirit of pursuing speed, and an attitude of avoiding complexity for the sake of speed are necessary. To avoid complexity, companies should choose tools like AWS that offer as many features as possible."

This content was produced with the assistance of AI translation services.