Data research firm International Data Corp. estimated that cloud revenue in South Africa was $243 million, with that number expected to grow 20% annually through 2021.
Microsoft, Amazon.com (AMZN) - Get Report and Alphabet (GOOGL) - Get Report , the top three players in cloud services, spent a combined $31.54 billion in cloud computing capital expenditures in 2016, according to the Wall Street Journal.
Microsoft shares were up 0.57% in morning trading Thursday.
Over on Real Money Jim Cramer give advice to investors looking at how to play the Trump Trade. Get his insights or analysis with a free trial subscription to Real Money.