Amazon's cloud business has grown so quickly in the past decade that it's now the fifth-largest business software provider in the world.
Revenue at Amazon Web Services jumped 43 percent in 2017 to $17.5 billion, representing about one-tenth of Amazon's total revenue, the company said this week. The only publicly-traded business software companies ahead of AWS are Microsoft, IBM, Oracle and SAP, according to data from FactSet.
AWS is far and away the leading provider of cloud infrastructure technology, and it has proven that Amazon can diversify beyond e-commerce. Microsoft, Google, IBM and others are all chasing AWS in the cloud.