Data from Synergy Research shows that Amazon Web Services is larger than its four main competitors combined in the cloud infrastructure service market.
Microsoft has the highest revenue growth rate while IBM is the leader in the private and hybrid services segment.
However, AWS is growing faster than the market as a whole, with its market share now up to 29% in the first quarter 2015.
Meanwhile, Google is slowly gaining its share of the market, although it remains half the size of Microsoft. While in the PaaS market, Salesforce is the clear leader according to the data.
John Dinsdale, Chief Analyst and Research Director at Synergy Research Group, said: "Across the full and varied spectrum of cloud activities there are now six companies that can lay a valid claim to having annual cloud revenue run rates in excess of $5 billion – AWS, IBM, Microsoft, HP, Cisco and salesforce – and all are able to claim leadership in different parts of the cloud market."
"However, on a strict like-for-like basis AWS remains streets ahead of the competition in cloud infrastructure services. Furthermore, this part of the cloud market is growing much more rapidly than SaaS or cloud infrastructure hardware and software."
Synergy has estimated that quarterly cloud infrastructure revenues have now passed the $5 billion mark. This includes IaaS, PaaS and private and hybrid cloud and comes despite the growing strength of the US dollar.
According to Synergy, the growth rate is now at around 45% and trailing twelve month revenues now exceed $17 billion.