Amazon
’s
AMZN
cloud computing platform, Amazon Web Services (AWS) recently joined forces with
Wyndham Hotels & Resorts, Inc.
WH
.
AWS’ cloud technologies will be used by Wyndham for developing digital services and providing better experiences to customers across 21 hotel brands.
Further Wyndham will leverage AWS for seamless operations and performance enhancement by minimizing operating costs of data center, closing additional data centers and running maximum infrastructure in the cloud.
Furthermore, Wyndham strives to prepare for post-pandemic travel demand through AWS’ technologies.
Wyndham has already been utilizing AWS for its core reservation system, property management system, and data processing platform for operational efficiency and developing new services for customers as well as franchisees. The recent move has further strengthened their partnership.
The selection of AWS by Wyndham highlights the reliability and efficiency of its cloud products and services. Additionally, the move has strengthened AWS’ customer base.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart
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Growing Customer Base
AWS is witnessing continuous growth in the customer base on the back of its robust portfolio of products and services.
Apart from the latest client acquisition, AWS was recently selected by Swisscom as the preferred public cloud provider. Swisscom will leverage AWS’ analytics, machine learning, containers, database and storage services for its enterprise IT.
Further, AWS was picked by Ferrari as its official cloud, machine learning and artificial intelligence provider to bring advancements across its road cars department, GT Competitions, the Ferrari Challenge and the Scuderia Ferrari FORMULA 1.
AWS was also chosen by BMO Financial Group, wherein the latter will leverage its analytics, machine learning, serverless, compute, storage, and database for upgrading banking platforms as well as developing digital financial services applications.
This expanding customer base will continue to drive top-line growth of AWS, which generated $14.8 billion revenues in second-quarter 2021, up 37% year over year, accounting for 13% of revenues.
Competition in the Booming Cloud Computing Market
The cloud computing market is witnessing a significant rise due to remote working trend owing to the coronavirus pandemic. Cloud computing companies are focusing on providing cost-effective and productive digital solutions to customers working from home and learning online.
According to Fortune Business Insights
report
, the global cloud computing market is expected to reach $791.48 billion in 2028 from $250.04 billion in 2021, progressing at a CAGR of 17.9% between 2021 and 2028.
Amazon’s expanding customer base is expected to continue aiding its dominance in this promising market.
Yet, this Zacks Rank #4 (Sell) company is facing strong competition from players like
Alphabet
’s
GOOGL
Google,
Microsoft
MSFT
, IBM, Oracle, and Alibaba, to name a few, which are also gaining strong traction in the cloud market on the back of their advancing cloud services portfolio.
You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
Recently, Google Cloud collaborated with Workday, wherein the latter will enable customers to run its finance, HR and planning applications on Google Cloud.
Meanwhile, Microsoft introduced Azure Healthcare APIs that will enable customers to ingest, manage and persist data in the Microsoft Cloud for Healthcare.
Further, IBM’s launch of IBM Cloud for Financial Services that provide banks with a cloud ecosystem with security, compliance and resilience remains noteworthy.
Nevertheless, AWS’ strengthening cloud offerings, expanding Availability Zones and regions along with increasing number of data centers are likely to keep strengthening its competitive position against peers.
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