Amazon's Web Services (AWS) model is dominating the cloud computing market to such an extent that it is now bigger than respective technologies from Google, Microsoft and IBM combined, according to Synergy Research Group.
The latest quarterly analysis report from Synergy suggests AWS accounts for 45 percent of the worldwide Infrastructure as a Service (IaaS) market.
IaaS is a form of cloud computing, which Amazon helped to create, that provides virtual computing resources online for the public. Crucially, this technology only charges customers for what they use.
The other two major cloud technologies include Platform as a Service (Paas) and managed private cloud services. PaaS allows customers to develop and manage its applications on the cloud meanwhile private cloud differs from the public service as it is dedicated to a single organization.
Amazon also powers ahead of its competitors in terms of market share in the PaaS sector though Microsoft, IBM and Salesforce collectively total slightly more than its AWS rival.
However, in the managed private cloud sector, IBM boasts a healthy lead over its next three rivals followed by Rackspace, NTT and AWS.
John Dinsdale, chief analyst and research director at Synergy Research Group said in the report, "Scale is the name of the game, especially in the public cloud markets."
John Rymer, vice president and principal analyst with Forrester Research believes AWS is indeed as dominant as Synergy's research suggests though cited growth in enterprises as a key reason for Amazon's rivals to be hopeful.
He told CNBC in an email, "AWS is in fact that much bigger than its rivals. But there's still plenty of room for growth, particularly in enterprises.
"Expect continued investment in data centers and in application services by the top 4 vendors," he added.
According to the Synergy research report, Amazon, Microsoft and Google have continued to invest huge sums into their respective cloud computing technologies with all three expanding their data center footprints and announcing more geographic locations in the coming months.
Dinsdale added, "This scale is the primary reason why they are able to gain market share and pressure smaller players into consolidation or refocusing their cloud activities.
"Some tier 2 players are looking to buck the trend and at least some are seeing particularly strong growth, including Alibaba (particularly in IaaS) and Oracle (in PaaS)," he said.