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 Amazon.com Inc. Report and Alphabet (GOOGL) - Get Alphabet Inc. 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.
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