Amazon Web Services (AWS) has announced the launch of a new European sovereign cloud service that promises customers in strictly regulated industries and the public sector a new “independent” cloud service.
AWS states that this cloud service will enable its customers more freedom and choice in data residency and resilience requirements. Its new cloud service will also allow users to keep all the metadata they create within the EU.
This new cloud service, according to AWS, will also be operated entirely within Europe.
“The AWS European Sovereign Cloud reinforces our commitment to offering AWS customers the most advanced set of sovereignty controls, privacy safeguards and security features available in the cloud,” stated AWS’ vice president of sovereign cloud Max Peterson.
In GlobalData’s thematic intelligence report into cloud computing, the research analyst forecasts that the global market for cloud computing will be worth around $738bn by 2026.
SaaS (software as a service) is expected to comprise the biggest part of the global revenue of cloud computing, expanding at a CAGR of 17%, the research analyst said.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Patent activity within cloud computing also rose dramatically between the years 2002 and 2021, according to GlobalData’s patent analytics. Within these years, cloud patent activity increased by 350% as the total number of publications rose from 66,000 in 2002 to 300,000 in 2021.
GlobalData credits this burst of activity to the implementation of AI and Internet of Things. As more and more businesses grow reliant upon these technologies, they will require more expansive computing systems to support their technology.
The majority of recent patent activity between 2020 and 2022 was, however, seen in China – with Europe and the rest of the world only accounting for 5% of patent applications and publications. For comparison, the second country with the highest amount of patent activity, South Korea, also accounted for 5% whilst China was accredited with 81% of published patents.
The deployment of AWS’ European cloud and the localisation of its running should help boost patent and hiring activity within Europe.