Cloud computing has revolutionized the business world over the last two decades. Enterprises no longer need to provision and maintain costly on-premises computing infrastructure. Instead, they can access resources like servers, storage, databases, and software remotely through the internet. Moreover, those resources can be accessed on demand, allowing enterprises to quickly and efficiently scale their operations.
According to research firm Gartner, spending on public cloud services will increase by 19% annually through 2022. That growth should be a tailwind for industry titans like Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT). Here's what investors should know about these two companies' opportunities in the cloud space in 2021.
Amazon's cloud computing business, Amazon Web Services (AWS), launched in 2006. Today, it's still the...